ON Semiconductor Corp. Fourth-quarter profit rises, beats estimates

(RTTNews) – ON Semiconductor Corp. (ON) reported earnings for its fourth quarter that rose from a year ago and beat Street’s estimates.

The company’s profit was $425.9 million, or $0.96 per share. That compares with $89.0 million, or $0.21 per share, in the fourth quarter of last year.

Excluding items, ON Semiconductor Corp. reported adjusted earnings of $478.0 million or $1.09 per share for the period.

Analysts on average had expected the company to earn $0.94 a share, according to figures compiled by Thomson Reuters. Analyst estimates generally exclude special items.

The company’s revenue for the quarter increased 27.6% to $1.85 billion from $1.45 billion last year.

ON Semiconductor Corp. Earnings Snapshot (GAAP):

– Earnings (Q4): $425.9 million. against $89.0 million. Last year. -EPS (Q4): $0.96 versus $0.21 last year. – Analyst estimate: $0.94 – Revenue (Q4): $1.85 billion vs. $1.45 billion last year.

-Advice: Next quarter EPS forecast: $0.98 – $1.10 Next quarter revenue forecast: $1,850 – $1,950 million

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