Conexant Reports Financial Results for the Second Quarter of Fiscal 2008

NEWPORT BEACH, Calif. — Conexant Systems, Inc. (NASDAQ: CNXT) today announced financial results for the second quarter of fiscal 2008 that exceeded the company’s expectations entering the quarter. Earlier today, Conexant also announced that it signed a definitive agreement to sell its Broadband Media Processing product lines to NXP Semiconductors in a transaction valued at up to $145 million. The companies expect to close the transaction within the next 60 days.