Home News ON Semiconductor Records Smaller Profit in Q4

ON Semiconductor Records Smaller Profit in Q4

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By Dean Seal

ON Semiconductor, the maker of intelligent sensing and power services, reported a smaller profit in the fourth quarter as margins slipped on a lower base of revenue. However, both top and bottom lines exceeded analyst projections.

Profit and Earnings Figures

In the same quarter a year ago, ON Semiconductor posted a profit of $604.3 million, or $1.35 a share. In the fourth quarter of the current year, the profit declined to $562.7 million, or $1.28 a share.

The adjusted earnings, excluding one-time items, amounted to $1.25 a share, surpassing the consensus estimate of $1.20 a share according to FactSet.

Revenue Decline

Quarterly revenue for ON Semiconductor decreased to $2.02 billion from $2.1 billion compared to the previous year. Analysts surveyed by FactSet had predicted flat revenue of $2 billion.

Future Outlook

For the current quarter, ON Semiconductor is guiding for earnings of 94 cents to $1.06 a share on revenue of $1.8 billion to $1.9 billion. The revenue outlook is slightly below current analyst forecasts for the quarter. Adjusted earnings for the first quarter are expected to range from 98 cents to $1.10 a share. Analysts have forecasted $1.10 a share, as per FactSet data.

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