This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ON Semiconductor Reports Fourth Quarter And 2012 Annual Results

ON Semiconductor Corporation (Nasdaq: ONNN) today announced that total revenues in the fourth quarter of 2012 were $680.2 million, down approximately six percent compared to the third quarter of 2012. During the fourth quarter of 2012, the company reported a GAAP net loss of $138.2 million, or $0.31 per share. The fourth quarter 2012 GAAP net loss was impacted by $175.2 million of special items, including $150.4 million of estimated non-cash asset impairment charges, which are largely attributed to the SANYO Semiconductor Products Group. The remaining non-cash charges and special items detail can be found in the attached schedules. The company will report final results for the fourth quarter and full year upon completion of the impairment analysis and the filing of its Form 10-K with the SEC for the fiscal year ended December 31, 2012.

Fourth quarter 2012 non-GAAP net income was $37.0 million, or $0.08 per diluted share, compared to $53.5 million, or $0.12 per diluted share, for the third quarter of 2012. A reconciliation of these non-GAAP financial measures (and other non-GAAP measures used elsewhere in this release, such as non-GAAP gross margin and adjusted EBITDA) to the company's most directly comparable measures prepared in accordance with U.S. GAAP are set forth in the attached schedules and on our website at http://www.onsemi.com.

On a mix-adjusted basis, average selling prices for ON Semiconductor in the fourth quarter of 2012 were down approximately one to two percent when compared to the third quarter of 2012. Total company GAAP gross margin in the fourth quarter was 30.9 percent. Non-GAAP gross margin in the fourth quarter was 31.0 percent.

Adjusted EBITDA for the fourth quarter of 2012 was $96.3 million. Adjusted EBITDA for the third quarter of 2012 was $115.7 million.

Total revenues for 2012 were $2,894.9 million, a decrease of approximately 16 percent from $3,442.3 million in 2011. During 2012, the company reported a GAAP net loss of $90.6 million, or $0.20 per share. The 2012 GAAP net loss included charges of $303.6 million from special items, including $152.5 million of estimated non-cash asset impairment charges, which are largely attributed to the SANYO Semiconductor Products Group. The remaining non-cash charges and special items detail can be found in the attached schedules. The company will report final results for the fourth quarter and full year upon completion of the impairment analysis and the filing of its Form 10-K with the SEC for the fiscal year ended December 31, 2012. During 2011, the company reported GAAP net income of $11.6 million, or $0.03 per diluted share. The 2011 GAAP net income included net charges of $383.5 million from special items, the details of which can be found in the attached schedules.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs