AUSTIN, Texas-Freescale Semiconductor reported net sales of $1.44 billion compared with net sales of $1.43 billion in the fourth quarter and $1.4 billion during the first quarter of 2004.
Net earnings for the quarter were $85 million, or 20 cents per diluted share, compared with $106 million in the first quarter of 2004 and $5 million in the fourth quarter of 2005 when the company realized charges related to its separation from Motorola Inc. Excluding separation expenses and restructuring costs of $18 million, diluted EPS was 24 cents for the first quarter.
The Wireless and Mobile Solutions segment had net sales of $412 million during the quarter. That compares with net sales of $465 million in the fourth quarter and $354 million during the first quarter of last year. The company said revenues grew year over year due to strength in GSM and EDGE platform sales but fell seasonally from the fourth quarter.
“Our first-quarter performance demonstrates improved execution in a challenging environment,” said Michel Mayer, chairman and chief executive officer of the company. “The diversity of our revenue base provided stability, and the initiatives that we are rolling out to improve our operational performance are beginning to show results.”
The company said capital expenditures in the first quarter were $118 million, and research and development costs totaled $264 million.
Freescale said it expects to report revenues of between $1.38 billion and $1.47 billion during the second quarter.
