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© ON Semi Components | August 05, 2011

ON Semi with strongest quarter in history

“In the second quarter of 2011, we achieved our strongest quarterly revenues in the company’s history and exited the quarter with our highest cash, cash equivalents and short-term investments balance ever,” said Keith Jackson, ON Semiconductor president and CEO.
ON Semiconductor Corporation (Nasdaq: ONNN) yesterday announced that total revenues in the second quarter of 2011 were $905.8 million, an increase of approximately 4 percent from the first quarter of 2011. During the second quarter of 2011, the company reported GAAP net income of $41.0 million, or $0.09 per fully diluted share. The second quarter 2011 GAAP net income included net charges of $73.4 million, or $0.16 per fully diluted share, from special items. The special item details can be found in the attached schedules. During the first quarter of 2011, the company reported a GAAP net income of $82.6 million, or $0.18 per fully diluted share.

Second quarter 2011 gross profit and net income was slightly less than anticipated due to a more adverse impact from the March 2011 earthquake and resulting tsunami in Japan, and manufacturing cost increases from commodity prices and foreign currencies.

Second quarter 2011 non-GAAP net income was $114.4 million, or $0.25 per share on a fully diluted basis. First quarter 2011 non-GAAP net income was $121.2 million, or $0.27 per share on a fully diluted basis.


© ON Semi
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