NXP Semiconductors Reports Second Quarter 2016 Results

 

          
   NXP Semiconductors  
   Table 5: Financial Reconciliation of GAAP to non-GAAP Results (unaudited)  
                  
          
          
  ($ in millions except share data)  Three Months Ended 
     July 3, 2016  April 3, 2016  July 5, 2015 
          
   Revenue  $     2,365    $     2,224    $     1,506   
          
   GAAP Gross profit  $     1,099    $     597    $     724   
  PPA effects    (66)    (496)  1 )   (5) 
  Restructuring    (10)    (4)    -  
  Stock Based Compensation    (12)    (15)    (3) 
  Other incidentals    4     -     (2) 
   Non-GAAP Gross profit  $     1,183    $     1,112    $     734    
                   
    GAAP Gross margin     46.5 %     26.8 %     48.1 %  
                   
    Non-GAAP Gross margin     50.0 %     50.0 %     48.7 %  
                   
    GAAP Research and development   $   (416 )   $   (403 )   $   (195 )  
    Restructuring       (32 )       (11 )       (5 )  
    Stock based compensation       (30 )       (32 )       (9 )  
    Other incidentals       1         -         -    
    Non-GAAP Research and development   $   (355 )   $   (360 )   $   (181 )  
                   
    GAAP Selling, general and administrative   $   (283 )   $   (296 )   $   (167 )  
    PPA effects       (9 )       (1 )       -    
    Restructuring       2         (5 )       (4 )  
    Stock based compensation       (38 )       (52 )       (24 )  
    Merger-related costs       (11 )       (5 )       (4 )  
    Other incidentals       (5 )       -         1    
    Non-GAAP Selling, general and administrative   $   (222 )   $   (233 )   $   (136 )  
                   
    GAAP amortization of acquisition-related intangible assets   $   (436 )   $   (367 )   $   (31 )  
    PPA effects       (436 )       (367 )       (31 )  
    Non-GAAP amortization of acquisition-related intangible assets   $   -      $   -      $   -     
                   
    GAAP Other income (expense)   $   10     $   (2 )   $   1    
      PPA effects       (3 )       -         -    
    Other incidentals       13         (2 )       -    
    Non-GAAP Other income (expense)   $   -      $   -      $   1    
            -            
    GAAP Operating income (loss)   $     (26 )   $     (471 )   $     332    
    PPA effects       (514 )       (864 )    1  )     (36 )  
    Restructuring       (40 )       (20 )       (9 )  
    Stock based compensation       (80 )       (99 )       (36 )  
    Merger-related costs       (11 )       (5 )       (4 )  
    Other incidentals       13         (2 )       (1 )  
    Non-GAAP Operating income (loss)   $     606     $     519     $     418    
                   
    GAAP Operating margin     -1.1 %     -21.2 %     22.0 %  
                   
    Non-GAAP Operating margin     25.6 %     23.3 %     27.8 %  
                   
    GAAP Financial income (expense)   $   (126 )   $   (116 )   $   2    
    PPA effects   $   3         3         -    
    Non-cash interest expense on convertible notes       (10 )       (10 )       (9 )  
    Foreign exchange gain (loss)       (2 )       (9 )       40    
    Extinguishment on debt       (23 )       (3 )       -    
    Changes in fair value of warrant liability       -         -         18    
    Other financial expense       (6 )       (4 )       (11 )  
    Non-GAAP Financial income (expense)   $     (88 )   $     (93 )   $     (36 )  
                   
    GAAP Income tax benefit (provision)   $     152     $     199     $     (14 )  
    Other adjustments       170         213         (4 )  
    Non-GAAP Cash tax (expense)   $     (18 )   $     (14 )   $     (10 )  
                   
    GAAP Results relating to equity-accounted investees   $     1     $     1     $   1    
    Other adjustments       1         1         1    
    Non-GAAP Results relating to equity-accounted investees   $     -       $     -       $     -      
                   
    GAAP Net income (loss)   $     1     $     (387 )   $     321    
    PPA effects       (511 )       (861 )    1  )     (36 )  
    Restructuring       (40 )       (20 )       (9 )  
    Stock based compensation       (80 )       (99 )       (36 )  
    Merger-related costs       (11 )       (5 )       (4 )  
    Other incidentals       13         (2 )       (1 )  
    Other adjustments       130      2  )     188         35    
    Non-GAAP Net income (loss)   $     500     $     412     $     372    
                   
    GAAP Net income (loss) attributable to stockholders   $     (13 )   $     (398 )   $     300    
    PPA effects       (511 )       (861 )    1  )     (36 )  
    Restructuring       (40 )       (20 )       (9 )  
    Stock based compensation       (80 )       (99 )       (36 )  
    Merger-related costs       (11 )       (5 )       (4 )  
    Other incidentals       13         (2 )       (1 )  
    Other adjustments       130      2  )     188         35    
    Non-GAAP Net income (loss) attributable to stockholders   $     486     $     401     $     351    
                   
    GAAP Weighted average shares - diluted       341,299         341,830         243,288    
    Non-GAAP Adjustment       8,064         9,207         -    
    Non-GAAP Weighted average shares - diluted       349,363         351,037         243,288    
                   
    GAAP Diluted net income (loss) attributable to stockholders per share   $     (0.04 )   $     (1.16 )   $     1.23    
    Non-GAAP Diluted net income (loss) attributable to stockholders per share   $     1.39     $     1.14     $     1.44    
                   
                   
                   
  1) Includes Purchase Accounting effect on inventory that was fully amortized as of April 3, 2016.
2) Includes: During 2Q16: Non-cash interest expense on convertible Notes: ($10) million; Foreign exchange losses: ($2) million; Extinguishment of debt: ($23) million; Other financial expense: ($6) million; Results relating to equity-accounted investees: $1 million; and the difference between book and cash income taxes: $170 million.
 
                   

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11  Next Page »



Review Article Be the first to review this article
Aldec

Featured Video
Jobs
DDR 3-4-5 Developer with VIP for EDA Careers at San Jose, CA
Senior Front-End RTL Design AE for EDA Careers at San Jose, CA
Senior Methodology Automation Engineer for EDA Careers at San Jose, CA
Senior R&D Engineer...Timing Closure Specialist for EDA Careers at San Jose or Anywhere, CA
Proposal Support Coordinator for Keystone Aerial Surveys at Philadelphia, PA
Upcoming Events
11th International Conference on Verification and Evaluation of Computer and Communication Systems at 1455 DeMaisonneuve W. EV05.139 Montreal Quebec Canada - Aug 24 - 25, 2017
The Rise of Mechatronics at Dassault Systèmes San Diego 5005 Wateridge Vista Drive San Diego CA - Sep 12, 2017
The Rise of Mechatronics at Buca di Beppo - Pasadena 80 West Green Street Pasadena CA - Sep 13, 2017
S2C: FPGA Base prototyping- Download white paper



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy