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Freescale Semiconductor Announces Fourth Quarter and Full Year 2009 Results

Freescale Semiconductor Holdings I, Ltd. today announced financial results for the fourth quarter and fiscal year ended Dec. 31, 2009

(PresseBox) (AUSTIN, Texas, ) Highlights for the fourth quarter and fiscal year 2009 include:

- Net sales of $951 million for the fourth quarter;
- Net sales of $3.51 billion for fiscal year 2009;
- Trailing twelve month Adjusted EBITDA of $579 million;
- Cash and cash equivalents of $1.36 billion at Dec. 31, 2009.

"Freescale executed well during the fourth quarter and 2009, delivering improving revenue and earnings performance throughout the year," said Rich Beyer, Chairman and CEO. "Our strong financial position, leadership in embedded processing across our core networking and automotive businesses, and significant opportunities in consumer and industrial segments, provide a diversified foundation for growth in 2010 and beyond."

Operating Results

Net sales for the fourth quarter of 2009 were $951 million, compared to $893 million in the third quarter of 2009 and $940 million in the fourth quarter last year. The reported loss from operations for the three months ended Dec. 31, 2009, inclusive of $148 million of reorganization costs, was $261 million, compared to a loss of $261 million in the third quarter of 2009 and a loss of $4.17 billion in the fourth quarter of 2008.

Adjusted operating earnings for the three months ended Dec. 31, 2009 were $59 million compared to earnings of $12 million in the third quarter of 2009 and a loss of $116 million in the fourth quarter of 2008. Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA), was $168 million for the fourth quarter of 2009, compared to $119 million in the third quarter of 2009 and $17 million for the fourth quarter of 2008.

Descriptions of adjusted gross margin, EBITDA, Adjusted EBITDA and adjusted operating earnings/loss, cash flow and the reconciliations to our GAAP results are included in the tables and notes attached to this press release.

Product Revenues

The company's net sales figures for the fourth quarter of 2009 are as follows:

- Microcontroller net sales were $333 million in the fourth quarter of 2009, compared to $294 million in the third quarter of 2009 and $306 million in the fourth quarter of 2008.

- RF, Analog and Sensor net sales were $221 million in the fourth quarter of 2009, compared to $208 million in the third quarter of 2009 and $232 million in the fourth quarter of 2008.

- Networking and Multimedia net sales were $251 million in the fourth quarter of 2009, compared to $234 million in the third quarter of 2009 and $273 million in the fourth quarter of 2008.

- Cellular net sales were $116 million in the fourth quarter of 2009, compared to $122 million in the third quarter of 2009 and $64 million in the fourth quarter of 2008.

- Other net sales were $30 million in the fourth quarter of 2009 compared to $35 million in the third quarter of 2009 and $65 million in the fourth quarter of 2008.

Fourth Quarter Business Reorganization

During the fourth quarter, the company recorded $148 million of reorganization costs related primarily to an accrual for severance and other costs associated with our plan to exit our manufacturing facility in Toulouse, France during 2011.

Financial Position

Cash and cash equivalents were $1.36 billion on Dec. 31, 2009 compared to $1.33 billion on October 2, 2009.

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

Click here for 4Q and Full Year 2009 Results and Financial Tables:
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MjgzODV8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1

Click here for 4Q and Full Year-GAAP Reconciliations:
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MjgzODR8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1

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.

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