Freescale sales rise by a third

Austin American-Statesman - - BUSINESS & PERSONAL FINANCE - Com­piled from staff and wire re­ports

Austin-based Freescale Semi­con­duc­tor Hold­ings I Ltd. re­ported net sales of $1.1 bil­lion for its sec­ond quar­ter, a 34 per­cent in­crease from the same pe­riod a year ago.

Freescale, which makes a va­ri­ety of chips for the au­to­mo­tive, net­work­ing, com­mu­ni­ca­tions and con­sumer elec­tron­ics in­dus­tries, said its loss from op­er­a­tions was $18 mil­lion dur­ing the three­month pe­riod that ended July 2, com­pared with a loss of $345 mil­lion last year.

The com­pany — which em­ploys about 5,000 peo­ple in Austin and about 20,000 world­wide — took a non-cash charge of $361 mil­lion tied to the mod­i­fi­ca­tion and ex­ten­sion of ma­tu­ri­ties of $4.4 bil­lion in long-term debt.

“We are on a solid tra­jec­tory with four quar­ters of se­quen­tial growth,” CEO Rich Beyer said.

Rich Beyer

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