NXP Semiconductors Reports Fourth Quarter and Full-year 2020 Results
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1. |
Additional Information for the Fourth Quarter and Full-year 2020: |
| | | i. | For an explanation of GAAP to non-GAAP adjustments, please see “Non-GAAP Financial Measures”. |
| | | ii. | Financial leverage is defined as net debt divided by trailing twelve months adjusted EBITDA. |
| | • | During the fourth quarter of 2020, NXP repurchased 1.8 million shares for a total cost of $257 million and paid cash dividends of $105 million. Full year 2020, NXP repurchased 4.8 million shares for a total cost of $627 million, paid cash dividends of $420 million. |
| | • | Weighted average number of diluted shares for the three-month period ended December 31, 2020 was 285.3 million. Weighted average number of diluted shares for the twelve-month period ended December 31, 2020 was 283.8 million. |
| | • | Net cash paid for income taxes related to on-going operations was $30 million. Net cash paid for income taxes not related to on-going operations resulted in additional cash payments of $15 million. Full year 2020 net cash paid for income taxes related to on-going operations was $103 million, not related to on-going operations was $45 million. |
| | • | Peter Kelly, NXP’s Chief Financial Officer has notified the company of his intent to retire from NXP as of February 2022. The company will undertake a search for qualified candidates both internally and externally. |
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Guidance for the First Quarter 2021: ($ millions)
(1)
| |
Guidance Range |
| |
GAAP | |
Reconciliation | |
non-GAAP |
| |
Low | |
Mid | |
High | | | |
Low | |
Mid | |
High |
|
Total Revenue |
$ |
2,475 | | |
$ |
2,550 | | |
$ |
2,625 | | | | |
$ |
2,475 | | |
$ |
2,550 | | |
$ |
2,625 | |
| Q-Q | -1 | % | | 2 | % | | 5 | % | | | | -1 | % | | 2 | % | | 5 | % |
| Y-Y | 22 | % | | 26 | % | | 30 | % | | | | 22 | % | | 26 | % | | 30 | % |
|
Gross Profit |
$ |
1,283 | | |
$ |
1,331 | | |
$ |
1,378 | | |
$ |
(34 |
) | | |
$ |
1,317 | | |
$ |
1,365 | | |
$ |
1,412 | |
| Gross Margin | 51.8 | % | | 52.2 | % | | 52.5 | % | | | | 53.2 | % | | 53.5 | % | | 53.8 | % |
|
Operating Income (loss) |
$ |
468 | | |
$ |
506 | | |
$ |
543 | | |
$ |
(269 |
) | | |
$ |
737 | | |
$ |
775 | | |
$ |
812 | |
| Operating Margin | 18.9 | % | | 19.8 | % | | 20.7 | % | | | | 29.8 | % | | 30.4 | % | | 30.9 | % |
| Financial Income (expense) | $ | (87 | ) | | $ | (87 | ) | | $ | (87 | ) | | $ | (2 | ) | | | $ | (85 | ) | | $ | (85 | ) | | $ | (85 | ) |
