ONNN - Sector: Technology --- Industry: Semiconductors

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Great chart...
Golden Cross Alert for ONNN !!!!
Good Earnings Record...
Usually surprises to the upside each quarters earning. Huge growth potential.



52wk Range: 2.35 - 10.72
Volume: 10,034,513
Avg Vol (3m): 10,527,200

Technicals
Most Actives

Last Price Quote is:
10.90%above 13-day MA
27.23%above 50-day MA
RS Rating: 89 

Fundamentals
Key Data:
Market Cap (M): $2,614.59 
P/E Ratio: 7.85 
PEG Ratio: 5.83929 
Next Earnings: 08/04/2009
Last Analyst Rating: Buy

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Breaking news...
27-May-09 11:58 am   
ON Semiconductor Introduces Industry's First Common Mode Choke EMI Filter with Integrated ESD Protection for High-Speed Data LinesLast update: 5/27/2009 11:40:01 AMNew Miniature Device Eliminates Common Mode Noise in LVDS-Class Interfaces Where High Bandwidth Prevents the Use of Traditional EMI Filters PHOENIX, May 27, 2009 (BUSINESS WIRE) -- ON Semiconductor (ONNN), a leading global supplier of high-performance, energy-efficient, silicon solutions, today introduced the industry's first integrated common mode choke and electrostatic discharge (ESD) protection IC for high-speed data line applications. The new NUC2401MN combines high bandwidth differential filtering, solid common mode stop band attenuation and world-class ESD protection. These combined features make this solution far superior to typical electromagnetic interference (EMI) filters and discrete alternatives while helping to significantly lower component count. Enabling designers to achieve superior filtering and protection while realizing space and cost savings and improving overall reliability, it is ideal for a wide variety of applications based on high-speed differential data lines including USB 2.0, IEEE1394, LVDS, MIPI and MDDI.
 

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updated chart look...

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updated chart look...

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Above the 50-day MA...MACD rising
Target $10-14, stop $7.54. ON Semiconductor power and data management semiconductors.

52wk Range: 2.35 - 9.12
Volume: 8,775,711
Avg Vol (3m): 11,180,900

Technicals
Most Actives

Last Price Quote is:
5.81%above 13-day MA
3.81%above 50-day MA
RS Rating: 35  

Fundamentals
Key Data:
Market Cap (M): $3,112.48  
P/E Ratio: 7.85  
PEG Ratio: 2.00833  
Next Earnings: 02/10/2010
Last Analyst Rating: Overweight

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ON Semi Looking Up.......

By Zacks Equity Research
On 3:48 pm EST, Monday November 9, 2009

ON Semiconductor (NasdaqGS: ONNN - News) reported second quarter earnings that beat the Zacks Consensus Estimate by 4 cents.

Revenue by End Market

Revenue of $472.9 million was up 12.6% sequentially and down 18.7% year over year. The company saw sequential improvement across all end markets except communications and medical, although all end markets were down on a year-over-year basis. Consumer witnessed the strongest growth, increasing 47.3% sequentially. Automotive and computing also grew double-digits.

Year-over-year declines moderated in all except the communications and medical markets. Computing was again the largest end market in the last quarter, generating 27% of sales, followed by automotive with 18%, comunications 17%, industrial/mil/aero with 17%, consumer 17% and medical 4%.

Revenue by Segment

The double-digit year-over-year decline was across all except the standard products segment, with Digital & Mixed Signal the weakest, followed by Computing & Consumer and Automotive & Power. The Standard Products segment was down single-digits. Standard Products generated 32% of revenue (up 15.5% sequentially), computing and consumer generated 24% (up 21.1%), automotive and power 23% (up 16.5%) and digital and mixed signal 21% (down 2.7%).

Geographically, Asia generated the largest chunk of revenue, with a 68% contribution. Revenue increased 14.5% sequentially. Europe generated 17%, a sequential increase of 45.4%. The Americas brought in 16%, down 14.2% sequentially.

Gross Margin

Gross margin for the quarter was 37.9%, up 590 basis points (bps) from the previous quarter's 32.0%. The gross margin improvement was across all four segments and was partly attributable to strengthening demand, and partly due to significantly higher utilization rates. Gross margin increased 125 bps from the year-ago quarter.

Gross margins were up across all segments, with the highest margin Digital & Mixed Signal segment growing 132 basis points (bps). The Automotive & Power segment saw the strongest margin expansion, up 808 bps sequentially. The segment now generates margins comparable to the Computing and Consumer segment, which increased 376 bps sequentially. The Standard Products segment continues to lag historical trends, although it grew very nicely by 335 bps. All except the Digital & Mixed Signal segment declined on a year-over-year basis.


Operating Performance

Operating expenses of $100.9 million were higher than the previous quarter's $97.2 million. However, the operating margin expanded 772 bps sequentially and 311 bps year over year. This higher margin was largely on account of the lower COGS [costs of goods sold], although lower G&A [general and administrative], R&D [research and development] and S&M [sales and marketing] (as a percentage of sales) also contributed.

The Automotive and Power segment saw the greatest sequential expansion in operating margin, followed by Computing and Consumer and then Standard Products. Digital and Mixed Signal grew nicely from the year-ago quarter, but saw a small sequential decline. All other segments declined from the year-ago quarter.


Net Profit

On a pro forma basis, ONNN had a net income of $59.3 million, or a 12.5% net income margin compared to $22.2 million, or 5.3% in the previous quarter and profit of $66.3 million or 11.4% in the third quarter of last year. Fully diluted pro forma earnings per share (EPS) were $0.14 compared to $0.05 in the June 2009 quarter and $0.16 in the comparable prior-year quarter.

Our pro forma estimate excludes restructuring charges, stock-based compensation expenses and amortization of intangibles in the last quarter. Our pro forma estimate may not match management's presentation due to the addition/exclusion of some items not considered by management. On a fully diluted GAAP basis, the company recorded a net income of $29.9 million ($0.07 per share) compared to a loss of $3.0 million ($0.01 per share) in the previous quarter and a net profit of $57.2 million ($0.14 per share) in the prior-year quarter.


Balance Sheet

Inventories were down 2.0% sequentially, with inventory turns increasing from 4.1x to 4.4x. Days sales outstanding (DSOs) were around 51 days, down from 55 days at the end of the June quarter. The cash and short-term investments balance was $470 million at quarter-end, with the company generating $88 million from operations. ON Semi spent $9.3 million on capex, $23.3 million on the repurchase of long-term debt and $4.1 million on share repurchases. At quarter-end, ON Semiconductor had $729 million of debt on its balance sheet, or a net debt position of $260 million.


Guidance

Management provided guidance for the third quarter. Accordingly, revenue is expected to come in at $480-495 million, up 2-5% sequentially. The GAAP gross margin is expected to be 38-39%. Excluding acquisition-related inventory markup of approximately $2 million and stock-based compensation expenses of approximately $3 million, the non-GAAP gross margin is expected to be 39-40%. GAAP operating expenses were $130-135 million.

Excluding amortization of intangibles, stock based compensation expense, restructuring charges, asset impairments and other charges totaling approximately $25 million, the non-GAAP operating expenses are expected to range between $105 and $110 million. Interest and other expenses are expected to be $10-11 million. GAAP taxes are expected to total $5 million. The diluted share count is expected to be 440 million. Management also expects to spend around $25 million on capex in the fourth quarter.

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The run up...
Looking at the 1 year chart


After the beatdown...
Looking at the 2 year chart

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PHOENIX, Feb 11, 2010 (BUSINESS WIRE) -- ON Semiconductor (ONNN, Trade ), a premier supplier of high performance, energy efficient silicon solutions for green electronics, today has expanded its market leading power switching product offering with the introduction of a high-voltage power MOSFET portfolio including 500 volt (V) and 600 V devices. These new solutions are designed for the robust needs of high voltage, energy conversion applications such as Power Factor Correction (PFC) and Pulse Width Modulation (PWM) stages, where faster turn-on and reduced dynamic power losses are crucial. Specifically, they are ideal for use in power adapters for gaming, printing and notebooks, as well as implementation in ATX power supplies, LCD panel power and industrial lighting ballast.

The new 500 V and 600 V devices are single N-channel MOSFETs offering minimized power dissipation by delivering competitively low RDS(on). These devices employ planar stripe technology, allowing operation in the most demanding applications. Low gate charge reduces switching loss, which also enables higher power efficiency. The avalanche energy ratings on these devices offer robust operation in power supply applications. The superior performance of these devices combines to enable the development of more efficient power subsystems.

"This portfolio introduction is just the first step into the high-voltage power MOSFET market for ON Semiconductor," said Paul Leonard, vice president and general manager of ON Semiconductor's MOSFETs products division. "We have strategically entered the high-voltage switching market at this time to better service our customers' overall power management needs by providing a comprehensive selection of load switching solutions from 500 volts to 600 volts. Moving forward we will continue to expand our high-voltage power MOSFET portfolio with targeted solutions for consumer and industrial customers. This is yet another example of how ON Semiconductor is working to strengthen its position as an industry leading provider of energy efficient power solutions."

The newly introduced 600 V MOSFET devices include:

-- NDD02N60Z-1G in an IPAK priced at $0.22 per unit in 10,000 unit quantities

-- NDD02N60ZT4G in a DPAK priced at $0.22 per unit in 10,000 unit quantities

-- NDD03N60Z-1G in an IPAK priced at $0.23 per unit in 10,000 unit quantities

-- NDD03N60ZT4G in a DPAK priced at $0.23 per unit in 10,000 unit quantities

-- NDD04N60Z-1G in an IPAK priced at $0.27 per unit in 10,000 unit quantities

-- NDD04N60ZT4G in a DPAK priced at $0.27 per unit in 10,000 unit quantities

-- NDF04N60ZG in a TO-220FP priced at $0.27 per unit in 10,000 unit quantities

-- NDF06N60ZG in a TO-220FP priced at $0.36 per unit in 10,000 unit quantities

-- NDF10N60ZG in a TO-220FP priced at $0.42 per unit in 10,000 unit quantities

The newly introduced 500 V MOSFET devices include:

-- NDD05N50Z-1G in an IPAK priced at $0.29 per unit in 10,000 unit quantities

-- NDD05N50ZT4G in a DPAK priced at $0.29 per unit in 10,000 unit quantities

-- NDF05N50ZG in a TO-220FP priced at $0.29 per unit in 10,000 unit quantities

-- NDF08N50ZG in a TO-220FP priced at $0.38 per unit in 10,000 unit quantities

The NDF05N50ZG and NDF08N50ZG will be featured in a demonstration of a power supply and LED backlight for an LCD TV at the Applied Power Electronics Conference (APEC) at ON Semiconductor's booth No. 315 on February 21-25, 2010, in Palm Springs, Calif.

For more information, visit http://www.onsemi.com .

About ON Semiconductor

ON Semiconductor (ONNN, Trade ) is a premier supplier of high performance, energy efficient, silicon solutions for green electronics. The company's broad portfolio of power and signal management, logic, discrete and custom devices helps customers efficiently solve their design challenges in automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. ON Semiconductor operates a world-class, value-added supply chain and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit http://www.onsemi.com .

ON Semiconductor and the ON Semiconductor logo are registered trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company references its Web site in this news release, such information on the Web site is not to be incorporated herein.

SOURCE: ON Semiconductor


ON Semiconductor
Emily Puckett, 602-244-5670
Marketing Communications
[email protected]
Ken Rizvi, 602-244-3437
Corporate Development, Treasury & Investor Relations
[email protected]

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FRANKFURT, Germany, Sep 27, 2010 (BUSINESS WIRE) -- Strategies in Light Europe (SIL) -- ON Semiconductor (ONNN), a premier supplier of high performance, energy efficient silicon solutions for green electronics, will showcase its newest Light Emitting Diode (LED) lighting solutions at the Strategies in Light Europe conference Sept. 27-29 in Frankfurt, Germany.

"Energy efficiency in a cost-effective design is critical to achieving high overall luminous efficacy in solid state lighting applications," said Laurent Jenck, director of ON Semiconductor's LED Lighting segment. "High Brightness LEDs (HBLED) are replacing incandescent lamps in a broad range of applications, and the overall popularity of solid state lighting is continuing to grow across many different industry sectors. ON Semiconductor has recognized the many needs and applications for efficient LED lighting and effective LED Lighting protection and is rapidly developing solutions targeted to address customers' needs ranging from backlighting in handheld electronics and LCD panels, to general lighting, architectural lighting and automotive lighting."

ON Semiconductor offers a broad portfolio of LED lighting solutions for automotive; cell phones; camera flash; LCD panel backlighting; and interior, exterior, portable torch, signage and architectural lighting. At the SIL conference, ON Semiconductor will demonstrate and discuss its most recently introduced lighting solutions:

Miniature Buck LED Driver Controller for Efficient, Compact Lighting Designs

ON Semiconductor's NCL30100 is a new step-down (buck) LED driver controller that provides an ideal solution for high-brightness LED driver applications where space is limited and high efficiency is important, such as low voltage MR-16 LED bulbs. The new controller helps designers optimize their solution for a wide range of LED drive currents and is ideal for low voltage halogen-to-LED replacement, LED track and landscape lighting, and solar LED products.

The NCL30100's ability to operate at high switching frequency and the flexibility it gives to select the most appropriate power MOSFETs, combine to support the customer in achieving an optimal solution for their design.

Based on a peak current, quasi fixed-off time control architecture optimized for continuous mode step-down operation that eliminates the need for an output filter capacitor, the NCL30100 saves both board space and cost. A switching frequency of up to 700 kHz enables designers to use smaller inductors and therefore achieve further valuable PCB real estate savings. The NCL30100 meets the energy saving demands of the latest designs by achieving up to 95 percent efficiency. For low voltage AC applications, the NCL30100 can be dimmed via a standard wall dimmer.

Next Generation ESD Protection for High Power HBLEDs

ON Semiconductor's new CM1771 is a 100 V back-to-back electrostatic discharge (ESD) protection device that prolongs operation of HBLED lamp modules. It is the industry's first ESD protection solution for HBLED applications to feature a 100 V breakdown voltage. The CM1771 is a member of the innovative LuxGuard(R) family of turnkey solutions for ESD protection in high voltage circuits and is ideal for general illumination, signage, automotive and commercial lighting applications.

To ensure emerging opportunities for HBLED technology are realized, emitter manufacturers need to be sure their devices are not left vulnerable to damage from ESD strikes. Delivering protection at high breakdown voltages presents a new challenge in dissipating higher levels of power when an ESD strike occurs while maintaining acceptably low dynamic clamping voltages. The proprietary side mount arrangement featured in the CM1771 delivers robust, symmetrical ESD protection in a very small, cost-effective die that can be easily integrated into a wide selection of HBLED lamp modules.

The CM1771 is offered as a 440 um x 440 um die. Pricing for these devices is $0.02 per unit in 100,000 unit quantities.

Adjustable CCRs for LED Lighting Applications

ON Semiconductor has expanded its portfolio of adjustable Constant Current Regulators (CCRs). The new CCRs, which provide voltage surge suppression to protect general lighting and automotive LEDs, are simple and highly robust devices designed to provide cost-effective current regulation to LEDs. They are based on the company's proprietary, patent-pending Self-Biased Transistor (SBT) technology and regulate current over a wide voltage range.

ON Semiconductor's new compact CCR devices eliminate the need for additional regulation within the system design. They offer engineers a highly effective LED protection solution that supports tight application budgets and development schedules.

The NSI45090JDT4G and NSI45060JDT4G are offered in D-PAK packages and priced at $0.16 per unit in 10,000 unit quantities. The NSI45020JZT1G and NSI45035JZT1G are offered in SOT-223 packages and priced at $0.10 per unit in 10,000 unit quantities. These devices are all AEC--Q101 qualified. All of the CCRs are offered in compact, thermally robust, RoHS-compliant packages, made using a halogen-free molding compound and lead-free lead finish and have an operating temperature range of --55 deg C to +150 deg C.

Low Power LED Driver Optimized for Coin Cell Powered Backlighting Applications

The CAT3661 is a new one-channel Quad-Mode(TM) LED Driver providing up to 92 percent efficiency for extended battery life in a wide range of portable applications including handheld medical equipment.

The CAT3661 can drive a single LED backlight with a current of up to 5 mA. Soft-start current limiting and short-circuit protection make the new device ideal for use in equipment powered by coin cell batteries. Packaged in a 16-lead TQFN package measuring just 3 mm x 3 mm x 0.8 mm high, the CAT3661 provides a valuable solution for engineers working on new designs where available board space is limited. The quad-mode charge pump supports a wide range of input voltages from 2.0 V to 5.5 V and also helps the CAT3661 achieve peak efficiency levels of up to 92 percent - up to 10 percent higher than traditional high efficiency 1.5x tri-mode charge pumps. Pricing for the device is $0.86 per unit in 10,000 unit quantities.

GreenPoint(R) Interactive Online Design Simulation Tool

ON Semiconductor has developed an innovative GreenPoint(R) tool environment that provides an interactive online design and verification experience accelerating the design of solid state lighting solutions. Based on a user's design requirements -- such as LED configuration, voltage, current or switching frequency -- the GreenPoint Tool automatically calculates optimum circuit configuration and selects appropriate values for inductors and capacitors. The resulting design is displayed as an interactive online schematic. The GreenPoint Design Tool essentially represents a virtual test bed, providing a variety of analyses, which allows engineers to test the performance of the solution.

Once the design has been verified, the GreenPoint Simulation Tool generates a Bill of Materials and a comprehensive design report including simulation results, schematic and design data. ON Semiconductor's e-commerce tools are integrated with the GreenPoint Design Tool, which allows users to pick and choose vendor parts for a qualified bill of materials. Designs can be saved and shared for future reference and further modification in the user's secure and private workspace.

About ON Semiconductor

ON Semiconductor (ONNN, Trade ) is a premier supplier of high performance, energy efficient, silicon solutions for green electronics. The company's broad portfolio of power and signal management, logic, discrete and custom devices helps customers efficiently solve their design challenges in automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. ON Semiconductor operates a world-class, value-added supply chain and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit http://www.onsemi.com .

ON Semiconductor and the ON Semiconductor logo are registered trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company references its Web site in this news release, such information on the Web site is not to be incorporated herein.

SOURCE: ON Semiconductor


ON Semiconductor
Anne Spitza
Corporate Communications
602-244-6398
[email protected]
Ken Rizvi
M&A, Treasury & Investor Relations
602-244-3437
[email protected]

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ON Semiconductor Expands Its LED Lighting Solutions...

Technicals
Close Above the 50-day MA
Most Actives

Last Price Quote is:
6.15%above 13-day MA
5.63%above 50-day MA
RS Rating: 53 


52wk Range: 6.07 - 9.11
Volume: 7,764,412
Avg Vol (3m): 7,431,140
Market Cap: 3.02B
P/E (ttm): 12.96
EPS (ttm): 0.54

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ONNN  ON Semiconductor to Announce Third-Quarter 2010 Financial... 

PHOENIX, Oct 14, 2010 (BUSINESS WIRE) -- ON Semiconductor (ONNN), a premier supplier of high performance silicon solutions for energy efficient electronics, plans to announce its financial results for the third quarter ending October 1, 2010, after the market closes on Wednesday, November 3, 2010.

The company will host a conference call at 5:00 p.m. Eastern Time (ET) on November 3, following the release of its financial results. Investors and interested parties can access the conference call in the following manner:

Webcast: A live webcast of the conference call will be available via the "Investors" section of the company's website at http://www.onsemi.com . The re-broadcast of the call will be available at this site approximately one hour following the live broadcast and will continue for 30 days. Teleconference: A telephone conference of the earnings report can be accessed by dialing 888-546-9664 (U.S./Canada) or 973-935-8144 (International). In order to join this conference call, you will be required to provide the Conference ID Number -- which is 18326079. Teleconference Replay: Approximately one hour following the live broadcast, the company will provide a dial-in replay that will continue to be available through November 10, 2010. To listen to the teleconference replay, call 800-642-1687 (U.S./Canada) or 706-645-9291 (International). You will be required to provide the Conference ID Number -- which is 18326079.

About ON Semiconductor

ON Semiconductor (ONNN) is a premier supplier of high performance silicon solutions for energy efficient electronics. The company's broad portfolio of power and signal management, logic, discrete and custom devices helps customers efficiently solve their design challenges in automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. ON Semiconductor operates a world-class, value-added supply chain and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit http://www.onsemi.com .

ON Semiconductor and the ON Semiconductor logo are registered trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company references its Web site in this news release, such information on the Web site is not to be incorporated herein.

SOURCE: ON Semiconductor


ON Semiconductor
Anne Spitza
Corporate/Media Relations
602-244-6398
[email protected]
Ken Rizvi
Treasurer and Vice President (M&A, Real Estate & Investor Relations)
602-244-3437
[email protected]

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Energy Efficient Solutions from ON Semiconductor...

a premier supplier of high performance silicon solutions for energy efficient electronics, will demonstrate its latest product innovations -- designed to empower customers' next generation energy efficient solutions for automotive, portable, industrial and lighting applications -- at this year's Electronica exhibition in Munich, Germany, November 9-12.

52wk Range: 6.07 - 9.11
Volume: 5,838,415
Avg Vol (3m): 7,429,140
Market Cap: 3.11B
P/E (ttm): 13.35
EPS (ttm): 0.54
Div & Yield: N/A (N/A


Technicals
Close Above the 13-day MA

Last Price Quote is:
2.64%above 13-day MA
5.43%above 50-day MA
RS Rating: 43 

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04:12 PM ON Semiconductor (ONNN): Q3 EPS of $0.25 in-line. Revenue of $601M (+27%) vs. $599M. Shares -2.5% AH.

Day's Range: 7.52 - 7.87
52wk Range: 6.07 - 9.11
Volume: 10,786,413
Avg Vol (3m): 6,894,940
Market Cap: 3.39B
P/E (ttm): 14.53
EPS (ttm): 0.54
Div & Yield: N/A (N/A)

Technicals
Most Actives

Last Price Quote is:
5.37%above 13-day MA
11.11%above 50-day MA
RS Rating: 76 


Cup and Handel chart pattern

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ON Semiconductor Reports Third Quarter of 2010 Results
Wed November 03, 2010 4:05 pm

PHOENIX--(BUSINESS WIRE)-- For the third quarter of 2010, highlights include:

•Record quarterly revenues of approximately $600.7 million, an increase of approximately 3 percent from the second quarter of 2010
•GAAP gross margin of 41.0 percent
•Non-GAAP gross margin of 41.3 percent
•GAAP net income of $0.20 per fully diluted share
•Record Non-GAAP net income of $0.25 per fully diluted share which includes stock-based compensation expense
•Record low net debt position of approximately $223 million
ON Semiconductor Corporation (Nasdaq: ONNN) today announced that total revenues in the third quarter of 2010 were $600.7 million, an increase of approximately 3 percent from the second quarter of 2010. During the third quarter of 2010, the company reported GAAP net income of $87.8 million, or $0.20 per fully diluted share. The third quarter 2010 GAAP net income included net charges of $20.0 million, or $0.05 per fully diluted share, from special items. Also included in the operating expenses during the third quarter of 2010 was approximately $5 million of acquisition related expenses. The special item details can be found in the attached schedules. During the second quarter of 2010, the company reported a GAAP net income of $78.7 million, or $0.18 per fully diluted share.

Third quarter 2010 non-GAAP net income was $107.8 million, or $0.25 per share on a fully diluted basis, and includes stock-based compensation expense. Second quarter 2010 non-GAAP net income was $103.4 million, or $0.24 per share on a fully diluted basis, and includes stock-based compensation expense. 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 companys most directly comparable measures prepared in accordance with U.S. GAAP are set forth in the attached schedules and on our website at www.onsemi.com.

On a mix-adjusted basis, average selling prices in the third quarter of 2010 were generally flat when compared to the second quarter of 2010. GAAP gross margin in the third quarter was 41.0 percent. Non-GAAP gross margin in the third quarter of 2010 was 41.3 percent and includes stock-based compensation expense. GAAP gross margin in the third quarter included a net charge of approximately $1.6 million, or approximately 30 basis points, from special items. The special items details can be found in the attached schedules.

Adjusted EBITDA for the third quarter of 2010 was $150.6 million and includes stock-based compensation expense. Adjusted EBITDA for the second quarter of 2010 was $143.1 million and includes stock-based compensation expense.

In third quarter of 2010 the company posted another quarter of strong financial results and key business accomplishments, said Keith Jackson, ON Semiconductor president and CEO. We recorded the highest revenues in the companys history as well as the highest adjusted EBITDA and non-GAAP earnings per fully diluted share. In July 2010, we also signed a definitive purchase agreement to acquire SANYO Semiconductor. We have been working with SANYO Electric and SANYO Semiconductor on the transaction closing conditions, and given the timetable required to complete a number of these closing conditions, we currently believe the transaction will close in the beginning of first quarter of 2011, rather than the fourth quarter of 2010 as originally estimated. ON Semiconductor does not currently believe it will need to access the capital markets to finance the transaction, nor does it currently anticipate the need to issue any new shares of common stock in order to close the transaction.

FOURTH QUARTER 2010 OUTLOOK

Based upon product booking trends, backlog levels and estimated turns levels, we anticipate that total revenues will be approximately $565 to $585 million in the fourth quarter of 2010, Jackson said. Backlog levels at the beginning of the fourth quarter of 2010 were down slightly from backlog levels at the beginning of the third quarter of 2010 and represent over 90 percent of our anticipated fourth quarter 2010 revenues. We expect that average selling prices for the fourth quarter of 2010 will be approximately flat when compared to the third quarter of 2010. The non-GAAP outlook for the fourth quarter of 2010 includes stock-based compensation expense of approximately $12 to $13 million.

* Convertible Notes, Non-cash Interest Expense are included in FASBs Accounting Standards Codification (ASC) Topic 470 Debt.

** Fully diluted share count can vary for, among other things, the actual exercise of options or restricted stock units, the incremental dilutive shares from all of the companys convertible senior subordinated notes, and the repurchase or the issuance of stock or the sale of treasury shares. Please refer to the table on our website for potential changes to the Fully Diluted Share Count.

*** Special Items can include: restructuring, asset impairments and other, net; expensing of appraised inventory fair market value (FMV) step up; amortization of intangibles; goodwill impairments; income tax adjustments to approximate cash taxes; non-cash interest expense and certain other special items as necessary.

**** Regulation G and other provisions of the securities laws regulate the use of financial measures that are not prepared in accordance with GAAP. We believe these non-GAAP measures provide important supplemental information to investors. We use these measures, together with GAAP measures, for internal managerial purposes and as a means to evaluate period-to-period comparisons. However, we do not, and you should not, rely on non-GAAP financial measures alone as measures of our performance. We believe that non-GAAP financial measures reflect an additional way of viewing aspects of our operations that  when taken together with GAAP results and the reconciliations to corresponding GAAP financial measures that we also provide in our releases  provide a more complete understanding of factors and trends affecting our business. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies non-GAAP financial measures, even if they have similar names.

TELECONFERENCE

ON Semiconductor will host a conference call for the financial community at 5:00 p.m. Eastern Time (ET) on Nov. 3, 2010 to discuss this announcement and ON Semiconductors results for the third quarter of 2010. The company will also provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at http://www.onsemi.com. The webcast replay will be available at this site approximately one hour following the live broadcast and will continue to be available for approximately 30 days following the conference call. Investors and interested parties can also access the conference call through a telephone call by dialing (888) 546-9664 (U.S./Canada) or (973) 935-8144 (International). In order to join this conference call, you will be required to provide the Conference ID Number  which is 18326079. Approximately one hour following the live broadcast, the company will provide a dial-in replay that will continue to be available through Nov. 10, 2010. To listen to the teleconference replay, call (800) 642-1687 (U.S./Canada) or (706) 645-9291 (International). You will be required to provide the Conference ID Number  which is 18326079.

About ON Semiconductor

ON Semiconductor (Nasdaq: ONNN) is a premier supplier of high performance, silicon solutions for energy efficient electronics. The company's broad portfolio of power and signal management, logic, discrete and custom devices helps customers effectively solve their design challenges in automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. ON Semiconductor operates a world-class, value-added supply chain and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit http://www.onsemi.com.

ON Semiconductor and the ON Semiconductor logo are registered trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company references its website in this news release, information on the website is not to be incorporated herein.

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements related to the future financial performance of ON Semiconductor and our ability to increase cash flow from current levels, the proposed transaction between ON Semiconductor and SANYO Semiconductor, including the estimated timing for completing the transaction, the successful integration of acquisitions and the current belief that ON Semiconductor will not need to access the capital markets to finance the transaction nor issue additional shares of common stock to close the transaction. These forward-looking statements are based on information available to us as of the date of this release, our current expectations, forecasts and assumptions and involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks and uncertainties include a variety of factors, some of which are beyond our control. In particular, such risks and uncertainties include, but are not limited to, difficulties encountered in integrating acquired businesses; the variable demand and the aggressive pricing environment for semiconductor products; dependence on our companys ability to successfully manufacture in increasing volumes on a cost-effective basis and with acceptable quality for our current products; the adverse impact of competitive product announcements; revenues and operating performance; poor economic conditions and markets, including the current credit markets; the cyclical nature of the semiconductor industry; changes in demand for our products; changes in inventories at customers and distributors; technological and product development risks; availability of raw materials; competitors' actions; pricing and gross margin pressures; loss of key customers; order cancellations or reduced bookings; changes in manufacturing yields; control of costs and expenses; significant litigation; risks associated with decisions to expend cash reserves for various uses such as debt prepayment or acquisitions rather than to retain such cash for future needs; risks associated with acquisitions and dispositions (including the pending acquisition of SANYO Semiconductor Co., Ltd); the risk that the transaction with SANYO Semiconductor will not close when anticipated, or at all, or that it will close subject to materially different terms than those previously disclosed and/or reflected in the purchase agreement; the need to access capital markets or issue a material amount of shares based on market and other conditions outstanding at the time of closing the transaction; effects of exchange rate fluctuations and changes in the economy and our business and SANYO Semiconductors business and the related impact on the transaction, terms of the transaction, the anticipated effect of the transaction on our financial results following completion of the transaction; risks associated with leverage and restrictive covenants in debt agreements; risks associated with international operations, including foreign employment and labor matters associated with unions and collective bargaining agreements; the threat or occurrence of international armed conflict and terrorist activities both in the United States and internationally; risks related to new legal requirements; risks and costs associated with increased and new regulation of corporate governance and disclosure standards; and risks involving environmental or other governmental regulation. Information concerning additional factors that could cause results to differ materially from those projected in the forward-looking statements is contained in ON Semiconductors Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other of our filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing our views as of any subsequent date and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made.

* Adjusted EBITDA represents net income (loss) before interest expense, interest income, provision for income taxes, depreciation and amortization expense and special items. We use the adjusted EBITDA measure for internal managerial evaluation purposes, as a performance metric for the vesting/releasing of certain of our performance based equity awards, and for earning of corporate cash bonuses when applicable. Adjusted EBITDA is a non-GAAP financial measure. Regulation G and other provisions of the securities laws regulate the use of financial measures that are not prepared in accordance with generally accepted accounting principles. We believe this measure provides important supplemental information to investors. We use this measure, together with GAAP measures, for internal managerial purposes and as a means to evaluate period-to-period comparisons. However, we do not, and you should not, rely on non-GAAP financial measures alone as measures of our performance. 
   
We believe that non-GAAP financial measures reflect an additional way of viewing aspects of our operations that  when taken together with GAAP results and the reconciliations to corresponding GAAP financial measures that we also provide in our press releases  provide a more complete understanding of factors and trends affecting our business. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with non-GAAP financial measures used by our company or other companies, even if they have similar names. 

Non-GAAP Measures

To supplement the consolidated financial results prepared under GAAP, ON Semiconductor uses non-GAAP measures which are adjusted from the most directly comparable GAAP results to exclude items related to amortization of intangible assets, amortization of acquisition-related intangibles, expensing of appraised inventory fair market value step up, purchased in-process research and development expenses, restructuring, asset impairments and other, net, goodwill impairment charges, gains and losses on debt prepayment, non-cash interest expense, their related tax effects and certain other special items as necessary. Management does not consider these charges in evaluating the core operational activities of ON Semiconductor. Management uses these non-GAAP measures internally to make strategic decisions, forecast future results and evaluate ON Semiconductor's current performance. Most analysts covering ON Semiconductor use the non-GAAP measures as well. Given management's use of these non-GAAP measures, ON Semiconductor believes these measures are important to investors in understanding ON Semiconductor's current and future operating results as seen through the eyes of management. In addition, management believes these non-GAAP measures are useful to investors in enabling them to better assess changes in ON Semiconductor's core business across different time periods. These non-GAAP measures are not in accordance with or an alternative to GAAP financial data and may be different from non-GAAP measures used by other companies. Because non-GAAP financial measures are not standardized it may not be possible to compare these financial measures with other companies' non-GAAP financial measures, even if they have similar names.

-- Non-GAAP gross profit and gross margin. The use of this non-GAAP financial measure allows management to evaluate the gross margin of the company's core businesses and trends across different reporting periods on a consistent basis, independent of non-cash items including expensing of appraised inventory fair market value step up and amortization of intangible assets. In addition, it is an important component of management's internal performance measurement and reward process as it is used to assess the current and historical financial results of the business, for strategic decision making, preparing budgets and forecasting future results. Management presents this non-GAAP financial measure to enable investors and analysts to evaluate our revenue generation performance relative to the direct costs of revenue of ON Semiconductor's core businesses.

-- Non-GAAP net income and net income per share. The use of these non-GAAP financial measures allow management to evaluate the operating results of ON Semiconductor's core businesses and trends across different reporting periods on a consistent basis, independent of non-cash items including amortization of intangible assets, amortization of acquisition-related intangibles, expensing of appraised inventory fair market value step up, purchased in-process research and development expenses, restructuring, asset impairments and other, net, goodwill impairment charges, gains and losses on debt prepayment, non-cash interest expense, their related tax effects and certain other special items as necessary. In addition, they are important components of management's internal performance measurement and reward process as it is used to assess the current and historical financial results of the business, for strategic decision making, preparing budgets and forecasting future results. Management presents these non-GAAP financial measures to enable investors and analysts to understand the results of operations of ON Semiconductor's core businesses and to compare our results of operations on a more consistent basis against that of other companies in our industry.




ON Semiconductor
Anne Spitza
Corporate Communications
602-244-6398
[email protected]
Ken Rizvi
M&A, Treasury & Investor Relations
602-244-3437
[email protected]

Source: ON Semiconductor

Copyright Business Wire 2010

[setravis]

04:12 PM ON Semiconductor (ONNN): Q3 EPS of $0.25 in-line. Revenue of $601M (+27%) vs. $599M. Shares -2.5% AH.

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ONNN  New Components from ON Semiconductor Support Development... 

MUNICH, Nov 08, 2010 (BUSINESS WIRE) -- ON Semiconductor (ONNN), a premier supplier of high performance silicon solutions for energy efficient electronics, has announced four new products designed to support portable and consumer electronics applications.

ON Semiconductor offers a comprehensive range of power management, protection, audio and video solutions for portable and consumer applications. With an emphasis on integration, low power and high efficiency in low profile, small footprint packages, ON Semiconductor is able to support the needs of both current and future generation portable and consumer products such as smart phones, personal media players, digital cameras, LCD televisions, set-top-box and DVD players.

Electronica 2010 -- ON Semiconductor Portable Consumer Sector Product Launches

The NCP2704 audio subsystem IC and the NCP2824 low noise Class D amplifier represent the latest audio offerings from ON Semiconductor. The two devices give designers high efficiency and space saving solutions for their portable power amplifier requirements.

The NCP2824 is a low Electro-Magnetic Interference (EMI) Class D amplifier with Auto Gain Control (AGC), and power limiter functions. The NCP2704 is a subsystem that integrates the same low noise Class D amplifier with a very low power headphone amplifier which helps to extend battery life, thus enabling longer audio playback time. Both devices deliver overall efficiency levels of approximately 90 percent and are designed to cover the audio power requirements of a wide variety of portable electronic devices such as cell phones, mobile Internet browsing devices and hands-free car kits.

A non-clipping function featured on both devices automatically reduces the amplifier's gain in order to limit the distortion when an excessive signal is applied to the input. This adjustment is enabled by the Automatic Gain Control (AGC) circuit that is built into the chip. The power limiter function limits the output power of the amplifier to protect speakers from damage caused by an excessive sound level. Both AGC functions are adjustable.

The NCP2824 employs a single-wire interface to simplify designs. The NCP2704, meanwhile, offers extensive control through an IC protocol for adapting the AGC, signal multiplexing and the EMI reduction level to meet system requirements.

ON Semiconductor's new NCP380 and NCP382 are respectively single input / single output and single input / dual output, current limiting distribution switches designed for use in USB ports where heavy capacitive loads and short-circuits are likely to be encountered. Typical end applications include laptop/desktop computers, hubs, set top boxes, televisions and gaming products. The new devices limit output current to a desired level by switching into a constant--current mode when the output load exceeds the current--limit threshold or a short is present. The power switches' rise and fall times are controlled to minimize current ringing during switching. More critically, very short detection times allow huge inrush currents to be limited.

The NCP382 incorporates two 80 milliohm (ma") MOSFETs, is available in either DFN8 3 mm x 3 mm or SOIC-8 packages, and has a current limit threshold that is internally fixed at 500 milliamps (mA), 1000 mA or 1500 mA. The NCP380 meanwhile incorporates a single 70 ma" MOSFET and is offered in a choice of UDFN6, TSOP-5 or TSOP-6 packages. Current limit threshold is again fixed at 500 mA, 1000 mA or 1500 mA or is user adjustable via an external resistor between 100 mA and 1.5 A.

The NCP380 and NCP382 have a 2.5 volt (V) to 5.5 V operating voltage range and include features such as soft-start, soft turn-off, thermal protection, and reverse voltage protection. Both devices are compliant with IEC61000-4-2 (level 4) and have a junction operating temperature range of -40 deg C to +125 deg C.

Portable and Consumer Sector Demonstrations at Electronica

In the portable and consumer areas of the company's stand - where low power, efficiency and size are especially important aspects of customers' new product designs - ON Semiconductor will exhibit a selection of its fully integrated, high efficiency, small form factor devices that support audio and power management in the rapidly growing battery powered portable equipment sector.

Visit ON Semiconductor at Electronica 2010, 9 -- 12 November, Hall A5, Stand 225.

About ON Semiconductor

ON Semiconductor (ONNN) is a premier supplier of high performance silicon solutions for energy efficient electronics. The company's broad portfolio of power and signal management, logic, discrete and custom devices helps customers efficiently solve their design challenges in automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. ON Semiconductor operates a world-class, value-added supply chain and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit http://www.onsemi.com .

ON Semiconductor and the ON Semiconductor logo are registered trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company references its Web site in this news release, such information on the Web site is not to be incorporated herein.

SOURCE: ON Semiconductor


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Simon Krelle
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