LONDON — NXP BV (Eindhoven, The Netherlands) achieved a net profit of $344 million on second quarter sales of $857 million. The net income compared to a loss of $319 million in the second quarter of 2008 and a loss of $568 in the first quarter of 2009. The increase in net income is largely attributable to higher financial income as a result of the bond exchanges, the company said.

The second quarter sales of $857 million were up 26.2 percent on a comparable basis with the first quarter of 2009. The increase in sales is mainly attributable to supply chain replenishment following a soft first quarter of 2009 and the continued impact of various, mainly Chinese, stimulus packages, the company said.

Adjusted EBITDA in the second quarter amounted to a profit of $89 million, down from a profit of $114 million in the second quarter of 2008 and up from a loss of $71 million in the first quarter of 2009. Adjusted EBITA was a loss of $18 million this quarter compared to a loss of $29 million in the same period last year and a loss of $188 million in the previous quarter.

The cash position was $1,373 million at the end of the second quarter compared with $1,706 million at the end of the first quarter of 2009.

The fab in Caen, France, was sold during the second quarter of 2009. The fab in Fishkill in the United States stopped production in early July 2009.

The outlook remains weak and visibility beyond the third quarter remains weak, the company said. "Although we have recently experienced positive order book developments, we believe this may be driven mainly by supply chain replenishment and not by a fundamental improvement of the semiconductors market, apart from China where we have seen real demand increase and recent improvements in other Asian countries," the company said in a statement. NXP is expect a sequential sales increase of between 10 percent and 20 percent in the third quarter on a business and currency comparable basis, excluding wafer sales to ST-Ericsson.

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