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ON Semiconductor Reports Second Quarter 2013 Results

ON Semiconductor Corporation (Nasdaq: ONNN):

For the second quarter of 2013, highlights include:
  • Total revenues of $688.3 million
  • GAAP gross margin of 33.7 percent
  • Non-GAAP gross margin of 33.7 percent
  • GAAP net income per diluted share of $0.11
  • Non-GAAP net income per diluted share of $0.13
  • Repurchased approximately 1.5 million shares of common stock

ON Semiconductor Corporation (Nasdaq: ONNN) today announced that total revenues in the second quarter of 2013 were $688.3 million, up approximately four percent compared to the first quarter of 2013. During the second quarter of 2013, the company reported GAAP net income of $47.7 million, or $0.11 per diluted share. The second quarter 2013 GAAP net income was impacted by $9.5 million of special items. The complete special items detail can be found in the attached schedules.

Second quarter 2013 non-GAAP net income was $57.2 million, or $0.13 per diluted share, compared to $44.7 million, or $0.10 per diluted share, for the first quarter of 2013. 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 Additionally, revenue by end market, region, distribution channel and business unit can be found on the "Investors" section of our website.

On a mix-adjusted basis, average selling prices for ON Semiconductor in the second quarter of 2013 were down approximately two percent when compared to the first quarter of 2013. Total company GAAP gross margin in the second quarter was 33.7 percent. Non-GAAP gross margin in the second quarter was 33.7 percent.

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