ON Semiconductor Corp. Q4 Profit Increases, beats estimates

(RTTNews) - ON Semiconductor Corp. (ON) revealed earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $425.9 million, or $0.96 per share. This compares with $89.0 million, or $0.21 per share, in last year's fourth quarter.

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 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

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

ON Semiconductor Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $425.9 Mln. vs. $89.0 Mln. last year. -EPS (Q4): $0.96 vs. $0.21 last year. -Analyst Estimate: $0.94 -Revenue (Q4): $1.85 Bln vs. $1.45 Bln last year.

-Guidance: Next quarter EPS guidance: $0.98 - $1.10 Next quarter revenue guidance: $1850 - $1950 Mln