Freescale Increases Sales In Q2
Freescale reported increased sales in Q2 of $1.11bn compared to the $1.02bn sales of Q1. Q2 operating loss was $18m compared to the $61m operating loss of Q1. Q2 EBITDA were $229m compared to $194m in Q1.
“We are on a solid trajectory with four quarters of sequential growth, and our design win momentum continues to solidify our leadership in embedded processing solutions,” says Rich Beyer, Freescale’s chairman and CEO.
Microcontroller net sales were $387m in Q2 compared to $374m in Q1.
Networking and multimedia sales were $303m in Q2 compared to $255m in Q1
Cellular net sales were $133m in Q2 compared to $121m in Q1.
Other net sales were $31m in Q2 compared to $25m in Q1.
During April 2010, the company issued approximately $1.4bn in senior secured notes and used the proceeds to extinguish $1.4bn of near term maturities out to 2018, resulting in a non?cash charge of $366m in Q2.
This transaction, combined with an amend and extend transaction and bond offering in the first quarter of 2010, extended the maturities of $4.4bn of long?term debt to 2016 and 2018.
Cash and cash equivalents were $1.06bn on July 2, 2010, inclusive of interest payments, bond repurchases and capital expenditures.