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NXP Semiconductors NV Management Discusses Q2 2012 Results - Earnings Call Transcript

Additionally, we have posted a supplemental earnings summary presentation and an excel document of our historical financials to assist in your modeling efforts. This call is being recorded, and will be available for replay from our corporate website.

Please be reminded that this call will include forward-looking statements that involve risks and uncertainties that could cause NXP's results to differ materially from management's current expectations. The risks and uncertainties include, but are not limited to, statements regarding the macroeconomic impact on the specific end markets in which we operate, the sale of new and existing products and our expectations for financial results for the third quarter of 2012. Please be reminded that NXP undertakes no obligation to revise or update publicly any forward-looking statements. For a full disclosure on forward-looking statements, please refer to our press release.

Additionally, during our call today, we will make reference to certain non-GAAP financial measures, which exclude the impact of purchase price accounting, restructuring, impairment and other charge, charges that are driven primarily by discrete events that management does not consider to be directly related to NXP's underlying core operating performance.

Pursuant to Regulation G, NXP has provided reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures in our second quarter 2012 earnings press release, which will be furnished to the SEC on Form 6-K, and available on NXP's website in the Investor Relations section at nxp.com.

Before we begin today, I would like to highlight that we have changed 2 of the 4 end markets we will report within our HPMS segments. We have defined the new end markets as portable and computing and infrastructure and industrial. These 2 new end markets replaced what were previously known as Wireless Infrastructure Lighting and Industrial, as well as the end market known as mobile consumer and computing. Included in the supplemental presentation on our IR website, we have provided a bridge and an explanation of what specific products are reflected in each new end market definition. There has been no changes to the Automotive and identification end market definitions. Now I'd like to turn the call over to Rick.

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