Freescale Semiconductor reported net earnings of $122 million ($0.29 per share) on net sales of $1.47 billion for its second quarter ended July 1. Net earnings amounted to $43 million ($0.15) on sales of $1.46 billion for the second quarter of 2004. Net earnings for this year’s Q2 included $5 million of separation expenses. Restructuring charges and separation expenses were $18 million in the first quarter of 2005 and $39 million in the second quarter of 2004.
"Our second quarter results demonstrate that we are continuing to improve our execution," said Michel Mayer, chairman and CEO. "We are pleased with the progress we have made during our first year as a public company and remain focused on reaching the next level of performance." For the third quarter of 2005, Freescale anticipates revenues of $1.38 to $1.47 billion and gross margins essentially in-line with those reported in the second quarter, which were 41.6% compared with 38.4% a year ago.