Posts net loss of $519.6m
ON Semiconductor has reported a revenue of $488.7m in the fourth quarter of 2008 ended December 31, 2008, compared to revenue of $407.9 for the same quarter in 2007.
The company has reported a GAAP net loss of $519.6m, or $1.27 per share, for the fourth quarter of 2008, compared to GAAP net income of $61.2m, or $0.15 per share on a fully diluted basis, for the third quarter of 2008.
Total revenues for 2008 were $2.05 billion, an increase of 31% from $1.56 billion in 2007. During 2008, the company reported a GAAP net loss of $393.0m. During 2007, the company reported GAAP net income of $242.2m.
Keith Jackson, president and CEO of ON Semiconductor, said: For ON Semiconductor, 2008 represented a transformational year. We successfully completed the acquisitions of AMIS Holdings in March 2008 and of Catalyst Semiconductor in October 2008. These acquisitions furthered the transformation of ON Semiconductor into an analog and power solutions leader, strengthening our relationships with market-making customers and expanding our addressable market. In addition, these acquisitions expanded our product portfolio and opened two additional end-market segments in military/aerospace and medical.