Freescale has a wide range of the products available in their portfolio along with a focus toward the new developing trends in Automotive, MEMS, IoT and lot more. Especially they are now having a focus on the developing Asian Markets. This will be a helping a continuous growth.
Yes, on the call the Freescale execs kept saying they're taking it "quarter by quarter" -- they seemed cautiously optimistic. The company is chipping away at its debt. In his statement on the earnings call, Freescale's CFO Alan Campbell said Freescale "recalled of a use of approx $100 million of cash to redeem most of remaining 2014 maturities. The annual interest savings assoc with this transaction was aprox 9 million. In addition, completed another refinancing of 2018 debt with associated cash interest savings of 26 million. This leaves us with about 90% of debt maturing in 2018 and beyond. Year-to-date we have reduced our annualized cash interest by approximately $50 million and we will continue to use cash to delever and be opportunitistic in refinancing some of our high coupon debt."
I think Freescale has its footprint majorly into the industrial and automotive domain, rather than into the commercial phone/tab/PC business. Last few quarters were pretty bad for the industry. I am not a market analyst, but looking at the Freescale results this time can we make an assumption that things are getting positive in core industries and automotive?