ON Semi with strongest quarter in history

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