Freescale Q1 results, ‘a solid start’ says ceo
Freescale Semiconductor has announced promising results for the first quarter of 2011. Despite suffering a total net loss of $148million following the recent earthquake in Japan, the Austin chipmaker reported net sales of $1.19billion, up 16.7% from $1.02bn in Q1 2010.
Cash and cash equivalents were reported as $1.04bn and adjusted operating earnings for the three months ended April 1, 2011, were $201m. Company ceo Rich Beyer maintained his optimism about the company's growth. "Our first quarter marked a solid start to the year with improvement in sales and margins," he said. "We continue to strengthen our market leadership and are well positioned for continued improvement throughout 2011."
