Freescale Semiconductor Swings To Q4 Profit, Stock Up

(RTTNews) - Freescale Semiconductor Ltd. (FSL) Tuesday reported a swing to profit in the fourth quarter from a loss last year, helped mainly by sales growth and the absence of a one-time charge. Earnings for the quarter topped analysts' estimates, while revenues came in line with expectations.

Shares of the company gained over 11 percent in the after-hours trade, following the news.

Austin, Texas-based Freescale reported a fourth-quarter profit of $63 million or $0.20 per share, compared to a loss of $118 million or $0.46 per share last year. Last year's results included a loss on extinguishment long-term debt of $135 million.

Excluding items, adjusted earnings for the quarter improved to $0.42 per share from $0.19 per share last year. On average, 16 analysts polled by Thomson Reuters expected earnings of $0.33 per share for the quarter. Analysts' estimates typically exclude special items.

Freescale Semiconductors, which manufactures embedded semiconductors, said fourth-quarter sales grew to $1.10 billion from $1.08 billion last year. Analysts had a consensus revenue estimate of $1.10 billion for the quarter.

Looking forward to the first quarter, the company expects sales of $1.135 billion to $1.185 billion. Analysts currently expect revenues of $1.11 billion for the quarter.

FSL closed Tuesday's trading at $26.35, up $0.17 or 0.65%, on the NYSE. The stock further gained $3.05 or 11.57% in the after-hours trade.