* Sees Q3 rev $1.08-$1.15 bln vs est $1.11 bln
* Sees Q3 adj EPS $0.50-$0.62 vs est $0.54
* Q2 adj EPS $0.45 vs est $0.40
* Q2 rev $1.09 bln vs est $1.05 bln
July 24 An uptick in demand for chips that
enable mobile payments helped NXP Semiconductors NV
weather declining sales in Europe and a decelerating PC market
in the second quarter, and the chipmaker's estimates for the
current quarter came in largely above Wall Street expectations.
NXP's second-quarter results topped analysts' expectations
despite a decline in sales in three of its five businesses
including the auto segment.
But revenue in the company's identification segment grew 21
percent to $234 million. NXP's identification business makes
radio frequency (RFID) and near-field communication (NFC) chips.
Revenue from the segment is likely to jump another 10
percent to about $257.4 million in the third quarter, company
officials said on a conference call with analysts.
NXP is one of the world's largest producers of NFC chips --
a technology that mobile phone makers are standardizing as the
enabler for mobile wallets.
NFC technology passes encrypted information between devices
at close range without contact. Instead of swiping a credit
card, shoppers can wave their smartphone near a terminal,
effectively turning an NFC-enabled phone into a "mobile wallet."
Google Inc has chosen NFC as the standard for
mobile payments on its Android platform, and Apple Inc
is widely expected to follow suit by incorporating it in the
upcoming iPhone 5.
Demand from banking customers and mobile phone makers for
NFC chips is expected to remain strong for the rest of the year,
NXP Chief Executive Richard Clemmer said in a call with
For the third-quarter, the company, which competes with
Skyworks Solutions Inc, RF Micro Devices Inc
and Analog Devices Inc, projected a profit of 50 cents
to 62 cents per share on revenue of $1.08 billion to $1.15
Analysts were looking for 54 cents per share on $1.11
billion in revenue, according to Thomson Reuters I/B/E/S.
NXP reported a second-quarter adjusted profit of 45 cents a
share, compared with the 40 cents analysts had expected,
according to Thomson Reuters I/B/E/S.
Revenue fell slightly to $1.09 billion, but topped the $1.05
billion expected by analysts.
After accounting for one-time charges related to
restructuring and divestment, NXP swung to a second-quarter loss
of $90 million, or 36 cents per share, compared with a profit of
$84 million, or 33 cents per share, a year earlier.
The Dutch company's shares were flat at $21.85 on Tuesday
morning on the Nasdaq.