ON Semiconductor Reports Third Quarter 2019 Results

  • Revenue of $1,381.8 million
  • GAAP gross margin of 34.4 percent and non-GAAP gross margin of 35.8 percent
  • GAAP operating margin of (3.2) percent and non-GAAP operating margin of 13.0 percent
  • GAAP diluted loss per share of $0.15 and non-GAAP diluted earnings per share of $0.33

 

PHOENIX — (BUSINESS WIRE) — October 27, 2019 — ON Semiconductor Corporation (Nasdaq: ON) today announced that 2019 third quarter revenue was $1,381.8 million, down approximately 10 percent compared to 2018 third quarter revenue. 2019 third quarter revenue was up approximately three percent as compared to 2019 second quarter revenue. Third quarter 2019 GAAP financial results include a one-time charge of approximately $170 million to settle all pending intellectual property litigation with Power Integrations, Inc.

“Business conditions show modest signs of improvement as supply chain inventories have normalized and orders are trending along normal seasonality. However, global macroeconomic and geopolitical uncertainty still persists, and visibility into end-market demands remains limited,” said Keith Jackson, president and CEO of ON Semiconductor. “Despite the current challenges, key drivers powering our business remain intact, and we are seeing strong traction in key areas of strategic thrust. We believe that with our investments in automotive, industrial, and cloud-power markets, and into our operations, we are well positioned to deliver strong revenue and margin performance.”

Third Quarter Results (GAAP)

(in millions, except per share data)

3Q 2019

3Q 2018

Year-Over-
Year Change

2Q 2019

Sequential
Change

Revenue

$

1,381.8

 

$

1,541.7

(10

)

%

$

1,347.7

3

 

%

Gross Profit

$

475.2

 

$

596.6

(20

)

%

$

499.0

(5

)

%

Operating Income (Loss)

($

43.9

)

$

241.6

(118

)

%

$

158.3

(128

)

%

Net Income (Loss) Attributable to ON Semiconductor Corporation

($

60.7

)

$

166.9

(136

)

%

$

101.8

(160

)

%

Diluted Earnings (Loss) Per Share

($

0.15

)

$

0.38

(139

)

%

$

0.24

(163

)

%

Diluted Share Count

 

410.4

 

 

435.3

(6

)

%

 

417.7

(2

)

%

Third Quarter Results (Non-GAAP)

(in millions, except per share data)

3Q 2019

3Q 2018

Year-Over-
Year Change

2Q 2019

Sequential
Change

Revenue

$

1,381.8

$

1,541.7

(10

)

%

$

1,347.7

3

 

%

Gross Profit

$

494.2

$

596.8

(17

)

%

$

499.6

(1

)

%

Operating Income

$

179.9

$

275.1

(35

)

%

$

211.4

(15

)

%

Net Income Attributable to ON Semiconductor Corporation

$

136.8

$

244.9

(44

)

%

$

175.0

(22

)

%

Diluted Earnings Per Share

$

0.33

$

0.57

(42

)

%

$

0.42

(21

)

%

Diluted Share Count

 

412.3

 

429.4

(4

)

%

 

413.8

%

Third Quarter Key Cash Flow Items

(in millions)

3Q 2019

 

3Q 2018

 

Year-Over-
Year Change

 

2Q 2019

 

Sequential
Change

Cash Taxes, net of indemnification

$

14.1

$

12.6

12

 

%

$

12.9

9

%

Operating Cash Flow

$

242.2

$

358.2

(32

)

%

$

222.4

9

%

Free Cash Flow

$

130.5

$

227.8

(43

)

%

$

68.9

89

%


1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article
Aldec

 True Circuits: Ultra PLL

Featured Video
Latest Blog Posts
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
Virtual 2020 CEO Outlook Set for June 17
Colin WallsEmbedded Software
by Colin Walls
Multiple constructors in C++
Jobs
Senior Layout Engineer for EDA Careers at EAST COAST, California
Software Engineer for EDA Careers at RTP, North Carolina
Senior Application Engineer Formal Verification for EDA Careers at San Jose and Austin, California
Senior Analog Design Engineers #5337 for EDA Careers at EAST COAST, California
Upcoming Events
Sensors Expo & Conference at McEnery Convention Center 150 W. San Carlos Street SAN JOSE CA - Jun 22 - 24, 2020
Nanotech 2020 Conference and Expo at National Harbor MD - Jun 29 - 1, 2020
IEEE Computer Society Annual Symposium on VLSI (ISVLSI) 2020 at Limassol Hotel, Amathus Area, Pareklisia Cyprus - Jul 6 - 8, 2020
57th Design Automation Conference 2020 at San Francisco CA - Jul 19 - 23, 2020
DownStream: Solutions for Post Processing PCB Designs
Verific: SystemVerilog & VHDL Parsers



© 2020 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise