Freescale Semiconductor beats Q4 earnings estimates by big margin

Jan 28, 2015
Austin Business Journal

Freescale Semiconductor Ltd. shares jumped sharply in early after-hours trading as the Austin-based company beat Wall Street analysts' expectations by nine cents with adjusted earnings of 42 cents per share in the fourth quarter of 2014, according to financial results released after the markets closed Tuesday

Analysts had projected the company would turn in adjusted earnings of only 33 cents per share. Unadjusted earnings per share for the quarter came in at 20 cents

Freescale saw its share price rise by $2.40, or 9 percent, to $28.75 in after-hours trading in the immediate wake of its earnings release. The company's shares closed the regular session Tuesday at $26.35

For the year, the company reported 11 percent revenue growth with net sales of $4.6 billion. Net sales for the fourth quarter totaled $1.10 billion, up two percent from the fourth quarter of 2013

Freescale's automotive unit, which produces microcontrollers for vehicle companies such as Tesla Motors Inc., among others, continues to bring in the lion's share of the company's net sales, accounting for nearly $1.2 billion in sales in 2014, up from $1.06 billion in sales in 2013

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