Freescale Semiconductor Swings To Q1 Profit

(RTTNews) - Freescale Semiconductor Ltd. (FSL) Thursday reported first-quarter net income of $70 million or $0.22 per share, compared to a loss $23 million or $0.08 per share last year.

Net sales for the quarter rose to $1.17 billion from $1.13 billion last year.

Analysts polled by Thomson Reuters expected the company to report profit per share of $0.44 on revenues of $1.16 billion for the quarter. Analysts' estimates typically exclude special items.

Looking forward to second-quarter, the company expects adjusted earnings to increase on a sequential basis and net sales to be about $1.155 billion to $1.205 billion. Analysts currently estimate revenues of $1.22 billion for the quarter.