NXP Semiconductors Updates First Quarter 2020 Revenue Outlook Due to Potential Impact from the Coronavirus
01 Marzo 2020 - 5:00PM
NXP Semiconductors N.V. (NASDAQ: NXPI) today provided an update to
its first quarter 2020 revenue guidance due to potential impacts
from the novel coronavirus (“COVID 19”).
“Subsequent to our earnings call on February 3rd, we now believe
that our expectations for total revenue in the first quarter of
2020 will be reduced due to the impact of the coronavirus,” said
Richard Clemmer, NXP Chief Executive Officer. “Getting our arms
around the actual business impact of the virus has been a challenge
given the fluid and dynamic situation, but we want to stress that
the most important thing at this stage is the health and safety of
all our NXP team members and their families. From a business
perspective, the impact is very much an estimate at this time,
based on business trends over the last several weeks post the Lunar
New Year holiday. What we have seen is lower than expected
sell-through and order push outs in both our distribution channel
and with direct customers. While we have not seen any material
order cancellations, we currently expect the impact to revenue in
the first quarter to be in the range of $50 million to $150
million. At the lower end of this range, the $50 million impact is
what we’ve actually seen so far, with the weakness most pronounced
in the weeks after the Lunar New Year holiday, however, we have now
seen more normal order levels in the last two weeks. The $150
million upper range is estimated on a scenario where we would see a
return of weakness in the coming weeks, like what we saw right
after Lunar New Year. We need to stress that these assumptions are
based on less than perfect data, as the situation in China
continues to be highly fluid.”
Conference Call and Webcast Information
NXP will host a conference call on Monday, March 2, 2020 at 8:00
a.m. U.S. Eastern Time (2:00 p.m. Central European Time) to address
questions analyst and investor questions.
Interested parties may join the conference call by dialing 1 –
888 – 603 – 7644 (within the U.S.) or 1 – 484 – 747 - 6631 (outside
of the U.S.). The participant pass-code is 8352358. To listen to a
webcast of the event, please visit the Investor Relations section
of the NXP website at https://investors.nxp.com. The webcast will
be recorded and available for replay shortly after the call
concludes.
About NXP SemiconductorsNXP Semiconductors N.V.
(NASDAQ: NXPI) enables secure connections for a smarter world,
advancing solutions that make lives easier, better, and safer. As
the world leader in secure connectivity solutions for embedded
applications, NXP is driving innovation in the automotive,
industrial & IoT, mobile, and communication infrastructure
markets. Built on more than 60 years of combined experience and
expertise, the company has approximately 30,000 employees in more
than 30 countries and posted revenue of $8.88 billion in 2019. Find
out more at www.nxp.com.
Forward-looking Statements This document
includes forward-looking statements which include statements
regarding NXP’s business strategy, financial condition, results of
operations, and market data, as well as any other statements which
are not historical facts. By their nature, forward-looking
statements are subject to numerous factors, risks and uncertainties
that could cause actual outcomes and results to be materially
different from those projected. These factors, risks and
uncertainties include the following: market demand and
semiconductor industry conditions; the ability to successfully
introduce new technologies and products; the end-market demand for
the goods into which NXP’s products are incorporated; the ability
to generate sufficient cash, raise sufficient capital or refinance
corporate debt at or before maturity; the ability to meet the
combination of corporate debt service, research and development and
capital investment requirements; the ability to accurately estimate
demand and match manufacturing production capacity accordingly or
obtain supplies from third-party producers; the access to
production capacity from third-party outsourcing partners; any
events that might affect third-party business partners or NXP’s
relationship with them, including the outbreak of COVID-19 or the
requirements to suspend activities with customers or suppliers
because of changing import and export regulations; the
ability to secure adequate and timely supply of equipment and
materials from suppliers; the ability to avoid operational problems
and product defects and, if such issues were to arise, to correct
them quickly; the ability to form strategic partnerships and joint
ventures and to successfully cooperate with alliance partners; the
ability to win competitive bid selection processes to develop
products for use in customers’ equipment and products; the ability
to achieve targeted efficiencies and cost savings; the
ability to successfully hire and retain key management and senior
product architects; and, the ability to maintain good relationships
with our suppliers. In addition, this document contains
information concerning the semiconductor industry and NXP’s
business generally, which is forward-looking in nature and is based
on a variety of assumptions regarding the ways in which the
semiconductor industry, NXP’s markets and product areas may
develop. NXP has based these assumptions on information
currently available, if any one or more of these assumptions turn
out to be incorrect, actual results may differ from those
predicted. While NXP does not know what impact any such
differences may have on its business, if there are such
differences, its future results of operations and its financial
condition could be materially adversely affected. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak to results only as of the date the
statements were made. Except for any ongoing obligation to
disclose material information as required by the United States
federal securities laws, NXP does not have any intention or
obligation to publicly update or revise any forward-looking
statements after we distribute this document, whether to reflect
any future events or circumstances or otherwise. For a
discussion of potential risks and uncertainties, please refer to
the risk factors listed in our SEC filings. Copies of our SEC
filings are available on our Investor Relations website,
www.nxp.com/investor or from the SEC website, www.sec.gov.
For further information, please
contact: |
|
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Investors: |
Media: |
Jeff Palmer |
Jacey Zuniga |
jeff.palmer@nxp.com |
jacey.zuniga@nxp.com |
+1 408 518 5411 |
+1 512 895 7398 |
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