On Semi raises sales despite headwinds

February 04, 2019 //By Peter Clarke
On Semi raises sales despite headwinds
Broadline semiconductor company On Semiconductor Corp. (Phoenix, Ariz.) was able to increase sales revenue in the fourth revenue but saw its profit trimmed.

The company revenue in 4Q18 was $1,503.1 million an increase of 9 percent year on year but down 3 percent sequentially. The company made a net profit under GAAP rules of $165.6 million down from $529.9 million in the same quarter a year before.

"We once again delivered strong performance in the fourth quarter despite slowdown in macroeconomic conditions. Key secular trends driving growth in our content in automotive, industrial, and cloud-power end-markets remain intact, and we remain upbeat about our medium to long term outlook. Our design-win pipeline in our strategic markets is growing at a strong pace, our customer engagements are strengthening, and our competitive position is improving significantly,” said CEO Keith Jackson, in a statement.

The outlook for the first quarter is revenue of between $1,365 million and $1,415 million, a sequential decline of 7.5 percent at the mid-point.

For the full year 2018 On Semi revenue was $5,878.3 million, up 6.0 percent on 2017. The net income was $629.9 million down from $813.0 million in 2017.

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