UPDATE 1-Freescale Semi quarterly loss widens

viernes 30 de enero de 2009 04:48 CET
 

* Q4 loss from operations $4.2 bln

* Q4 sales fall 39 percent to $940 million

* Q4 goodwill impairments, charges of $3.6 bln

NEW YORK, Jan 29 (Reuters) - Privately-held Freescale Semiconductor Holdings [FSLSM.UL] reported a much wider loss than a year ago, as sales fell by more than a third and it took huge goodwill and other charges.

The company reported a quarterly loss from operations of $4.2 billion, far greater than the $595 million loss in the fourth quarter of 2007.

"The challenging economic climate significantly impacted our fourth quarter results," Chief Executive Rich Beyer said in a statement.

Included in the loss were non-cash charges totaling $3.6 billion, the company said.

In October, Freescale said it was exploring strategic options for its cellular handset business and that it had ended its supply agreement with Motorola MOT.N. Freescale was spun off from Motorola in 2004 and taken private in a $17.6 billion leveraged buyout in late 2006.

On an adjusted basis, the company swung to a $116 million loss in the quarter, after earning $211 million a year ago. (Reporting by Christopher Kaufman; Editing by Anshuman Daga)