Freescale posts Q2 profit on rising sales
PrintBut growth slowing
Posted in Financial News, 21st July 2004 08:39 GMT
Free whitepaper – Thermal design of Dell PowerEdge server
Motorola's soon-to-be-independent semiconductor operation, Freescale, saw sale rise five per cent sequentially and 31 per cent year-on-year, allowing the company to post a profit for its second quarter.
Sales for the three-month period totalled $1.46bn, up from Q1's $1.4bn and Q2 2003's $1.12bn.
The rising sales yielded a quarterly net income of $43m (15 cents a share), rather better than the $174m (63 cents a share) loss it reported this time last year, but down on Q1 2004's $106m (38 cents a share) - and that after $9m in separation expenses was taken into account.
Motorola last week announced it had cut Freescale's initial share price from $17.50-19.50 to $13. At that price, the sale will yield $1.58bn, of which $580m will go into Freescale's coffers. The chip company will also gain an opportunity to borrow $1.25bn from its parent. ®
Related stories
Freescale Q1 income soars
Motorola takes a hit on Freescale IPO price
Motorola files for Freescale IPO
Motorola taps Big Blue talent for chip biz
Motorola renames chip division Freescale
History repeated as Apple slams CPU supplier
Analyst Keynote: The Register Agile Data Center Summit
10 Steps to a Successful CRM Implementation
Market Primer: ERP Systems
What Exchange can't do - and Dell can
Enabling The Agile Data Center
Dirty, dirty PCs: The X-rated picture guide
Top 500 supers - rise of the Linux quad-cores
Early adopters bloodied by Ubuntu's Karmic Koala
Sign up, sign up for The Register IT security newsletter