ON Semiconductor Q3 Profit Surges

(RTTNews) - ON Semiconductor Corp. (ON) reported that its net income attributable to the company for the third-quarter surged to $108.7 million or $0.25 per share from $10.1 million or $0.02 per share last year.

Total revenue in the third quarter of 2017 was $1.39 billion, up approximately 46 percent compared to the same quarter last year, primarily due to inclusion of Fairchild's results for full quarter in third quarter of 2017.

The company anticipates that total revenue in the fourth quarter of 2017 will be about $1.325 billion to $1.375 billion. Backlog levels for the fourth quarter of 2017 represent approximately 80 to 85 percent of anticipated fourth quarter 2017 revenue. The outlook for the fourth quarter of 2017 includes anticipated stock-based compensation expense of approximately $16 million to $18 million.