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Blackstone-Owned Freescale Rises as Forecast Tops Estimates (1)

April 26, 2013

Freescale Semiconductor Ltd. (FSL:US), the chipmaker mostly owned by a private-equity group including Blackstone Group LP (BX:US) and TPG Capital, rose after predicting second-quarter sales that may exceed some analysts’ estimates.

Second-quarter revenue will be $1 billion to $1.04 billion, the Austin, Texas-based company said yesterday in a statement. Analysts on average had estimated sales of $1.01 billion, according to data (FSL:US) compiled by Bloomberg.

Freescale is a supplier of analog chips, microcontrollers and network processors competing with companies such as Texas Instruments Inc. (TXN:US) It supplies chips used in cars, phone systems and consumer electronics.

The company’s first-quarter net loss was $48 million, or 19 cents a share, compared with a loss of $9 million, or 4 cents a share, in the same period a year earlier. Sales rose 3.3 percent to $981 million, topping analysts’ average $966.3 million estimate. Interest payments of $121 million on debt (FSL:US) created when the company was taken private contributed to the loss.

Freescale’s shares (FSL:US) rose 8 percent to $15.71 at the close in New York. The stock has advanced 43 percent this year, compared with a 13 percent gain by the Philadelphia Semiconductor Index.

To contact the reporter on this story: Ian King in San Francisco at

To contact the editor responsible for this story: Tom Giles at

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