Freescale Semiconductor, Ltd. (NYSE:FSL) today announced financial results for the third quarter ended September 28, 2012. Highlights include:
• Net sales of $1.01 billion
• Adjusted operating earnings of $127 million
• Gross margin of 42.0%
• Adjusted net earnings per share of $.04
• Operating earnings of $127 million
• Loss per share of $.10
“Despite challenging market conditions, we made progress in key areas during the third quarter,” said Gregg Lowe, president and CEO. “Revenues and gross margins were well ahead of the performance we experienced in previous semiconductor market downturns, we used $100 million in cash to reduce debt and we began implementing a new strategic framework that we believe will enable us to grow our business and regain market share.” Third Quarter Highlights Net sales for the third quarter of 2012 were $1.01 billion, compared to $1.03 billion in the second quarter of 2012 and $1.14 billion in the third quarter of last year. Operating earnings for the three months ended September 28, 2012 were $127 million, compared to $112 million in the second quarter of 2012 and $110 million in the third quarter of 2011.