EINDHOVEN, THE NETHERLANDS, Jan 09, 2012 (MARKETWIRE via COMTEX) --NXP Semiconductors N.V. (NASDAQ: NXPI) announced today it currently does not anticipate the recently announced Chapter 11 filing by Trident Microsystems to have a material impact on its non-GAAP results for the fourth quarter of 2011.
Based on the equity accounting methodology used to account for NXP's equity interest in Trident Microsystems, and irrespective of the Chapter 11 filing, the carrying value of the investment on NXP's balance sheet is anticipated to be zero as of the end of the fourth quarter of 2011, compared to the approximately $18 million as of the end of the third quarter 2011.
The original financial guidance for the fourth quarter of 2011 was provided in conjunction with the company's announcement of third quarter 2011 results, released on November 1, 2011 and is available on the company's investor relations website at www.nxp.com/investor.
Additionally, NXP will release its financial results for the fourth quarter of 2011 after the NASDAQ market close on Thursday, February 9, 2012 followed by a conference call with the financial community at 16:45pm U.S. Eastern Standard Time (22:45pm Central European Time).
Conference Call Interested parties may join the conference call by dialing the following numbers:
Within the U.S.: 1 - 800 - 901 - 5247 Outside the U.S.: 1 - 617 - 786 - 4501 Participant Passcode: 86035961
The call will be webcast by Thomson Reuters and can be accessed at the NXP Investor Relations website at www.nxp.com/investor, with a replay available for 90 days following the call.
About NXP Semiconductors NXP Semiconductors N.V. (NASDAQ: NXPI) provides High Performance Mixed Signal and Standard Product solutions that leverage its leading RF, Analog, Power Management, Interface, Security and Digital Processing expertise. These innovations are used in a wide range of automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. A global semiconductor company with operations in more than 25 countries, NXP posted revenue of $4.4 billion in 2010. For more information visit www.nxp.com
Forward-looking Statements This document includes forward-looking statements which include statements regarding NXP's business strategy, financial condition, results of operations, and market data, as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include the following: market demand and semiconductor industry conditions; the ability to successfully introduce new technologies and products; the end-market demand for the goods into which NPX's products are incorporated; the ability to generate sufficient cash, raise sufficient capital or refinance corporate debt at or before maturity; the ability to meet the combination of corporate debt service, research and development and capital investment requirements; the ability to accurately estimate demand and match manufacturing production capacity accordingly or obtain supplies from third-party producers; the access to production capacity from third-party outsourcing partners; any events that might affect third-party business partners or NXP's relationship with them; the ability to secure adequate and timely supply of equipment and materials from suppliers; the ability to avoid operational problems and product defects and, if such issues were to arise, to correct them quickly; the ability to form strategic partnerships and joint ventures and to successfully cooperate with alliance partners; the ability to win competitive bid selection processes to develop products for use in customers' equipment and products; the ability to successfully establish a brand identity; the ability to successfully hire and retain key management and senior product architects; and, the ability to maintain good relationships with our suppliers. In addition, this document contains information concerning the semiconductor industry and NXP's business segments generally, which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the semiconductor industry, NXP's market segments and product areas may develop. NXP has based these assumptions on information currently available, if any one or more of these assumptions turn out to be incorrect, actual market results may differ from those predicted. While NXP does not know what impact any such differences may have on its business, if there are such differences, its future results of operations and its financial condition could be materially adversely affected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after we distribute this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in our SEC filings. Copies of our SEC filings are available from on our Investor Relations website, www.nxp.com/investor or from the SEC website, www.sec.gov.
SOURCE: NXP Semiconductors