- Revenue of $1,455.9 million
- Gross margin of 38.1 percent
- GAAP operating margin of 13.5 percent and non-GAAP operating margin of 16.3 percent
- Operating cash flow of $268.5 million and free cash flow of $115.6 million
- GAAP earnings per share of $0.35 and non-GAAP earnings per share of $0.46
PHOENIX — (BUSINESS WIRE) — July 29, 2018 — ON Semiconductor Corporation (Nasdaq: ON) today announced that total revenue in second quarter of 2018 was $1,455.9 million, up approximately 9 percent compared to GAAP revenue in second quarter of 2017. Second quarter 2018 revenue was up approximately 6 percent as compared to revenue in first quarter of 2018.
"We delivered strong results in the second quarter. Demand for our products continues to accelerate as customers are increasingly relying on us to provide key technologies for newly emerging applications in automotive and industrial markets. With a pipeline of new products and strengthening customer engagement, we are well positioned to benefit from disruptive trends in our markets," said Keith Jackson, president and CEO of ON Semiconductor. "Along with strong revenue growth, we continue to deliver robust margin expansion, which points to strong leverage in our operating model."
"We are increasingly upbeat about our long term outlook, and we are making prudent investments in our manufacturing infrastructure to sustain our revenue momentum and to further strengthen our industry-leading cost structure."
|
Second Quarter Results (GAAP) |
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|
(in millions, except per share data) |
2Q 2018 | 2Q 2017* |
Year-Over-
Year Change |
1Q 2018 |
Sequential Change |
|||||||||||
| Revenue | $ | 1,455.9 | $ | 1,338.0 | 9 | % | $ | 1,377.6 | 6 | % | ||||||
| Gross Profit | $ | 555.0 | $ | 492.0 | 13 | % | $ | 517.4 | 7 | % | ||||||
| Operating Income | $ | 197.2 | $ | 154.0 | 28 | % | $ | 185.7 | 6 | % | ||||||
| Net Income Attributable to ON Semiconductor Corporation | $ | 155.3 | $ | 93.9 | 65 | % | $ | 139.6 | 11 | % | ||||||
| Diluted Earnings Per Share | $ | 0.35 | $ | 0.22 | 59 | % | $ | 0.31 | 13 | % | ||||||
| Diluted Share Count | 444.3 | 425.9 | 4 | % | 444.2 | — | % | |||||||||
|
Second Quarter Results (Non-GAAP) |
||||||||||||||||
| (in millions, except per share data) | 2Q 2018 | 2Q 2017* |
Year-Over-
Year Change |
1Q 2018 |
Sequential
Change |
|||||||||||
| Revenue | $ | 1,455.9 | $ | 1,338.0 | 9 | % | $ | 1,377.6 | 6 | % | ||||||
| Gross Profit | $ | 555.2 | $ | 493.3 | 13 | % | $ | 517.4 | 7 | % | ||||||
| Operating Income | $ | 237.6 | $ | 196.4 | 21 | % | $ | 216.7 | 10 | % | ||||||
| Net Income Attributable to ON Semiconductor Corporation | $ | 199.7 | $ | 153.5 | 30 | % | $ | 170.7 | 17 | % | ||||||
| Diluted Earnings Per Share | $ | 0.46 | $ | 0.36 | 28 | % | $ | 0.40 | 15 | % | ||||||
| Diluted Share Count | 431.6 | 425.9 | 1 | % | 431.6 | — | % | |||||||||
|
Second Quarter Key Cash Flow Items |
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| (in millions) | 2Q 2018 | 2Q 2017* |
Year-Over-
Year Change |
1Q 2018 |
Sequential
Change |
||||||||||||||
| Cash Taxes | $ | 13.3 | $ | 17.1 | (22 | )% | $ | 19.1 | (30 | )% | |||||||||
| Operating Cash Flow | $ | 268.5 | $ | 333.2 | (19 | )% | $ | 226.5 | 19 | % | |||||||||
| Free Cash Flow | $ | 115.6 | $ | 264.2 | (56 | )% | $ | 127.0 | (9 | )% | |||||||||
