Freescale Semiconductor Holdings I, Ltd. announced financial results for the first quarter ended April 1, 2011. Net sales for the first quarter of 2011 were $1.19 billion, compared to $1.18 billion in the fourth quarter of 2010 and $1.02 billion in the first quarter last year.
The loss from operations for the three months ended April 1, 2011 was $3 million, compared to a profit of $17 million in the fourth quarter of 2010 and a loss of $61 million in the first quarter of 2010. The net loss for the first quarter of 2011 was $148 million, compared to a loss of $102 million in the fourth quarter of 2010 and a loss of $257 million in the same period last year.
Adjusted operating earnings (defined in the Notes to the Consolidated Financial Information attached to this press release) for the three months ended April 1, 2011, were $201 million compared to earnings of $177 million in the fourth quarter of 2010 and $95 million in the first quarter of 2010.
Adjusted net earnings for the three months ended April 1, 2011, were $57 million compared to earnings of $29 million in the fourth quarter of 2010 and a loss of $51 million in the first quarter of 2010.
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) was $287 million for the first quarter of 2011, compared to $280 million in the fourth quarter of 2010 and $194 million in the first quarter of 2010.
"Our first quarter marked a solid start to the year with improvement in sales and margins," said Rich Beyer, chairman and CEO. "We continue to strengthen our market leadership and are well positioned for continued improvement throughout 2011."
