Freescale's Q3 earnings way up

Oct 24, 2014
Austin Business Journal

Freescale Semiconductor Ltd. reported Thursday third-quarter profit of $125 million, or 40 cents per share, on revenue of $1.2 billion, compared with a profit of $23 million, or 9 cents per share, on revenue of $1 billion during the same period last year

The Austin-based company posted adjusted earnings of 49 cents per share versus analyst projections of 40 cents per share, according to a filing with the U.S. Securities and Exchange Commission. Freescale shares increased 2.7 percent on Thursday but declined nearly 7 percent in after-market trading. Click here to see how the stock is performing now

Freescale, which develops embedded processors, employs about 19,000 workers, including 5,000 in Austin

In September, the company disclosed that employees had produced nine technology projects at an in-house incubator the company quietly launched more than a year ago. Freescale designated 20 employees to shift from their regular duties to work on their own tech ideas in an incubator called the Discovery Lab. The program is designed to encourage the development of "disruptive" technologies instead of "being a fast follower," lab Director David Kramer had said

Since its opening in July 2013, more than 200 ideas were submitted, and more than 20 employees are currently working on the projects

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