ON Semiconductor Corp. Q4 Profit Increases, beats estimates

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

The company's bottom line came in at $604.3 million, or $1.35 per share. This compares with $425.9 million, or $0.96 per share, in last year's fourth quarter.

Excluding items, ON Semiconductor Corp. reported adjusted earnings of $580.4 million or $1.32 per share for the period.

Analysts on average had expected the company to earn $1.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.5% to $2.10 billion from $1.85 billion last year.

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

-Earnings (Q4): $604.3 Mln. vs. $425.9 Mln. last year. -EPS (Q4): $1.35 vs. $0.96 last year. -Analyst Estimate: $1.27 -Revenue (Q4): $2.10 Bln vs. $1.85 Bln last year.

-Guidance: Next quarter EPS guidance: $1.02 - $1.14 Next quarter revenue guidance: $1.870 - $1.970 Mln