Summary
NXP Semiconductors N.V. (NXPI) filed a Form 6-K on January 9, 2012, primarily to provide an update on the impact of Trident Microsystems' Chapter 11 filing and to announce their fourth quarter 2011 financial results conference call. The company stated that Trident's filing is not expected to have a material impact on NXP's non-GAAP results for Q4 2011. Due to equity accounting, NXP anticipates its investment in Trident will be fully written down to zero on its balance sheet by the end of Q4 2011, down from approximately $18 million in Q3 2011. Investors are also informed that NXP will release its full fourth quarter 2011 financial results on February 9, 2012, followed by a conference call to discuss the results. The company provided details on how to access this call, including dial-in numbers and a passcode, and noted that the call will be webcast and a replay will be available.
Key Highlights
- 1NXP Semiconductors does not expect Trident Microsystems' Chapter 11 filing to materially impact its Q4 2011 non-GAAP results.
- 2NXP's investment in Trident Microsystems is expected to be written down to zero on its balance sheet by the end of Q4 2011.
- 3The carrying value of the investment in Trident was approximately $18 million at the end of Q3 2011.
- 4NXP will release its Q4 2011 financial results on February 9, 2012, after market close.
- 5A conference call to discuss Q4 2011 financial results is scheduled for February 9, 2012, at 16:45 EST.
- 6The conference call will be webcast, and a replay will be available for 90 days.
- 7NXP reiterates its previous Q4 2011 financial guidance provided on November 1, 2011.