Freescale Semiconductor Announces Fourth Quarter and Full Year 2009 Results

Non-GAAP Financial Measures

Included within this press release and the accompanying tables and notes are non-GAAP financial measures that supplement the company's consolidated financial information prepared under GAAP. The company describes these non-GAAP financial measures and reconciles them to the most directly comparable GAAP measures in the tables and notes attached to this press release. The company's management believes that these non-GAAP measures provide a more meaningful representation of the company’s ongoing financial performance. In addition, the company uses Adjusted EBITDA to measure compliance with certain of its debt covenants. These non-GAAP measures are included solely for informational and comparative purposes and are not meant as a substitute for GAAP. You should consider them together with the consolidated financial information located in the tables attached to this press release.

About Freescale Semiconductor

Freescale Semiconductor is a global leader in the design and manufacture of embedded semiconductors for the automotive, consumer, industrial and networking markets. The privately held company is based in Austin, Texas, and has design, research and development, manufacturing or sales operations around the world. www.freescale.com.

Freescale and the Freescale logo are trademarks of Freescale Semiconductor Inc. All other product or service names are the property of their respective owners. © Freescale Semiconductor Inc. 2010.

Freescale Semiconductor Holdings I, Ltd.
Condensed Consolidated Statements of Operations
(Unaudited)
         
 
Three Months Ended Twelve Months Ended
(in millions) December 31, October 2, December 31, December 31, December 31,
2009 2009 2008 2009 2008
 
Net sales $ 951 $ 893 $ 940 $ 3,508 $ 5,226
Cost of sales 642 626 680 2,563 3,154
Gross margin 309 267 260 945 2,072
Selling, general and administrative 117 122 166 499 673
Research and development 185 193 276 833 1,140
Amortization expense for acquired intangible assets 120 122 225 486 1,042
Reorganization of businesses, contract settlement and other 148 91 141 345 53
Impairment of goodwill and intangible assets - - 3,613 - 6,981
Merger expenses - - 4 - 11
Operating loss (261) (261) (4,165) (1,218) (7,828)
 
Gain on extinguishment of long-term debt 7 4 63 2,296 79
Other expense, net (131) (142) (208) (576) (733)
Income (loss) before income taxes (385) (399) (4,310) 502 (8,482)
Income tax expense (benefit) (271) 11 (281) (246) (543)
Net income (loss) $ (114) $ (410) $ (4,029) $ 748 $ (7,939)

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