EINDHOVEN, Netherlands, Oct. 13, 2015 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ:NXPI) announced today it will release financial results for the third quarter of 2015 after the close of extended trading on the NASDAQ Global Select Market on Wednesday, October 28, 2015. The release will be followed by a conference call with the financial community on Thursday, October 29, 2015 at 8:00 AM U.S. Eastern Daylight Time.
NXP also announced today that the regulatory approval process on the NXP-Freescale Semiconductor (“FSL”) merger and the sale of NXP’s RF Power business is progressing as anticipated. NXP believes it is on track to close the transactions, including the sale of the RF Power business to Beijing Jianguang Asset Management Co., Ltd. (JAC Capital), in the fourth quarter of 2015. Next to the already received clearances, including the clearance received from the European Commission, NXP expects clearance decisions in the USA, China and South Korea. In the meantime, the Committee on Foreign Investment in the United States (CFIUS) has completed its action on the NXP-FSL merger. CFIUS has informed NXP and JAC Capital that it will conduct a 45-day investigation of the sale of the RF Power business that is expected to be completed no later than November 23, 2015.
Due to the anticipated timing of the completion of the previously announced merger, NXP will only provide limited guidance for the fourth quarter of 2015 at the time it publishes its third quarter results.
Conference Call Details
Interested parties may join the conference call by dialing the following numbers:
| Within the U.S.: 1 - 888 - 311 - 8119 |
|
| Outside the U.S.: 1 - 330 - 863 - 3362 |
|
| Participant Pass-code: 58459782 |
|
The call will be webcast by NASDAQ OMX and can be accessed at the NXP Investor Relations website www.nxp.com/investor. A replay will be available for 90 days following the call.
About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ:NXPI) creates solutions that enable secure connections for a smarter world. Building on its expertise in high-performance mixed signal electronics, NXP is driving innovation in the areas of connected car, security, portable & wearable, and the Internet of Things. NXP has operations in more than 25 countries, and posted revenue of $5.65 billion in 2014. 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. Readers are cautioned not to place undue reliance on these forward-looking statements. 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 NXP distributes 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 NXP’s SEC filings. Copies of NXP’s SEC filings are available on NXP’s Investor Relations website, www.nxp.com/investor or from the SEC website, www.sec.gov.
For further information, please contact:
Investors:
Jeff Palmerjeff.palmer@nxp.com
+1 408 518 5411
Media:
Joon Knapenjoon.knapen@nxp.com
+49 (0) 151 257 43 299
Nxp Semiconductors Netherlands B.V.