ON Semiconductor Reports Third Quarter of 2010 Results

Nov 8, 2010 ON Semiconductor Corporation has announced that total revenues in the third quarter of 2010 were $600.7 million, an increase of approximately 3 percent from the second quarter of 2010.  During the third quarter of 2010, the company reported GAAP net income of $87.8 million, or $0.20 per fully diluted share.  The third quarter 2010 GAAP net income included net charges of $20.0 million, or $0.05 per fully diluted share, from special items.  Also included in the operating expenses during the third quarter of 2010 was approximately $5 million of acquisition related expenses. Third quarter 2010 non-GAAP net income was $107.8 million, or $0.25 per share on a fully diluted basis, and includes stock based compensation expense.

On a mix-adjusted basis, average selling prices in the third quarter of 2010 were generally flat when compared to the second quarter of 2010.  GAAP gross margin in the third quarter was 41.0 percent.  Non-GAAP gross margin in the third quarter of 2010 was 41.3 percent and includes stock based compensation expense.  GAAP gross margin in the third quarter included a net charge of approximately $1.6 million, or approximately 30 basis points, from special items.   

 Adjusted EBITDA for the third quarter of 2010 was $150.6 million and includes stock-based compensation expense.


Author:  BIO T&T

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