NXP had revenues of $931m in Q4 and $4.2bn for 2011. It has not grown in three and a half years.
The Q4 revenues were 12% down on Q3 and the 2011 revenues were 4.7% down on 2010.
The Q4 2011 net loss was $182m compared with a loss of $118m in Q4 2010.
“We continue to experience very strong customer adoption of our technology, a validation of our strategic direction,” says NXP CEO Rick Clemmer.
It is the 14th successive quarter that NXP has had revenues of around $1bn.
On the upside, NXP has managed to pay off half the $6bn of debt which its private equity owners, KKR of New York, loaded onto the company when they acquired it in 2006, so reducing the annual interest bill from the original $450-500m a year to $280m. It has spent $720m laying people off – some 4,500 in all.
Clemmer remains hopeful. “We are encouraged,” he says, “by the somewhat improved order rates so far into the current quarter.”
