ON Semiconductor Q3 Adj. Profit Tops View; Issues Q4 Revenue Outlook

(RTTNews) - ON Semiconductor Corp. (ONNN) Thursday reported third-quarter net income attributable to the company of $51.8 million or $0.11 per share, compared to $12.5 million or $0.03 per share in the comparable quarter last year.

Adjusted net income for the quarter was $75.4 million or $0.17 per share, compared to $53.5 million or $0.12 per share in the comparable quarter last year. Analysts polled by Thomson Reuters expected the company to earn $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter dropped to $715.40 million from $725.50 million last year, while nineteen analyst estimated revenues of $715.59 million for the quarter.

Looking forward to the fourth quarter, the company expects revenues of $675 million to $705 million. Analysts currently estimate revenues of $709.58 million for the quarter.