NXP Semiconductors Reports Third Quarter 2015 Results

 

               
NXP Semiconductors   
Table 4: Reconciliation of GAAP to non-GAAP segment results (unaudited)  
   
               
($ in millions)   Three Months Ended  
    October 4, 2015   July 5,  2015   Sept. 28,   2014  
               
High Performance Mixed Signal (HPMS)       1,164         1,146         1,139    
Standard Products       325         322         333    
Product Revenue       1,489         1,468         1,472    
Corporate and Other       33         38         43    
Total Revenue   $     1,522     $     1,506     $     1,515    
               
   
               
HPMS Revenue   $     1,164     $     1,146     $     1,139    
Percent of Total Revenue     76.5 %     76.1 %     75.2 %  
HPMS segment GAAP gross profit       626         610         605    
PPA effects       (1 )       (1 )       -    
Stock based compensation       (2 )       (3 )       (1 )  
Other incidentals       1         (1 )       (1 )  
HPMS segment non-GAAP gross profit   $     628     $     615     $     607    
               
HPMS segment GAAP gross margin     53.8 %     53.2 %     53.1 %  
HPMS segment non-GAAP gross margin     54.0 %     53.7 %     53.3 %  
               
HPMS segment GAAP operating profit       331         293         274    
PPA effects       (14 )       (18 )       (22 )  
Restructuring       1         (6 )       -    
Stock based compensation       (28 )       (29 )       (26 )  
Other incidentals       1         (1 )       (1 )  
HPMS segment non-GAAP operating profit   $     371     $     347     $     323    
               
HPMS segment GAAP operating margin     28.4 %     25.6 %     24.1 %  
HPMS segment non-GAAP operating margin     31.9 %     30.3 %     28.4 %  
               
   
               
Standard Products Revenue   $     325     $     322     $     333    
Percent of Total Revenue     21.4 %     21.4 %     22.0 %  
Standard   Products segment GAAP gross profit       108         109         103    
PPA effects       -         (1 )       (1 )  
Restructuring       (4 )       (1 )       (6 )  
Stock based compensation       (1 )       -         (1 )  
Other incidentals       (2 )       (2 )       (1 )  
Standard Products segment non-GAAP gross profit   $     115     $     113     $     112    
               
Standard Products segment GAAP gross margin     33.2 %     33.9 %     30.9 %  
Standard Products segment non-GAAP gross margin     35.4 %     35.1 %     33.6 %  
               
Standard Products segment GAAP operating profit       56         53         38    
PPA effects       (12 )       (12 )       (15 )  
Restructuring       (4 )       (1 )       (7 )  
Stock based compensation       (6 )       (7 )       (8 )  
Other incidentals       (2 )       (2 )       (1 )  
Standard Products segment non-GAAP operating profit   $     80     $     75     $     69    
               
Standard Products segment GAAP operating margin     17.2 %     16.5 %     11.4 %  
Standard Products segment non-GAAP operating margin     24.6 %     23.3 %     20.7 %  
               
   
               
Corporate and Other Revenue   $     33     $     38     $     43    
Percent of Total Revenue     2.1 %     2.5 %     2.8 %  
Corporate and Other segment GAAP gross profit       6         5         5    
PPA effects       (2 )       (3 )       (2 )  
Restructuring       -         1         1    
Other incidentals       3         1         -    
Corporate and Other segment non-GAAP gross profit   $     5     $     6     $     6    
               
Corporate and Other segment GAAP gross margin     18.2 %     13.2 %     11.6 %  
Corporate and Other segment non-GAAP gross margin     15.2 %     15.8 %     14.0 %  
               
Corporate and Other segment GAAP operating profit       (12 )       (14 )       (5 )  
PPA effects       (6 )       (6 )       (5 )  
Restructuring       (1 )       (2 )       1    
Other incidentals       (3 )       (2 )       1    
Corporate and Other segment non-GAAP operating profit   $     (2 )   $     (4 )   $     (2 )  
               
Corporate and Other segment GAAP operating margin     -36.4 %     -36.8 %     -11.6 %  
Corporate and Other segment non-GAAP operating margin     -6.1 %     -10.5 %     -4.7 %  
               
   
               

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