EINDHOVEN, The Netherlands, April 29, 2019 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the first quarter of 2019, ended March 31, 2019.

“NXP delivered revenue of $2.1 billion during the first quarter, just above our guidance. Due to a richer mix of sales and good expense control, we successfully delivered improved profitability toward the higher end of our guidance range. Additionally, during the quarter we returned $788 million to our shareholders consistent with our long-term capital return policy. Looking forward, our second quarter guidance reflects the successful design win momentum and traction we have achieved with our customers. We continue to believe the demand environment in the second half of 2019 should improve versus the first half, but the macro-economic environment is still uncertain, especially in China.” said Richard Clemmer, NXP Chief Executive Officer.

First-quarter Key Highlights

• Revenue was $2.1 billion, down 8 percent year-on-year;
• GAAP gross margin was 51.2 percent, and GAAP operating margin was 2.6 percent;
• Non-GAAP gross margin was 52.7 percent, and non-GAAP operating margin was 26.7 percent;
• Cash flow from operations was $296 million, with net capex investments of $144 million, resulting in non-GAAP free cash flow of $152 million;

Summary of Reported First Quarter 2019 ($ millions, unaudited) ⁽¹⁾