Expects Q1FY11 revenue to be in range of $570 to $590m
ON Semiconductor has reported total revenues of $579.2m for the fourth quarter of 2010, an increase of 16.5% compared to $497.1m for the same period last year.
Gross margin was 41% for the fourth quarter of 2010, up from 39.1 % of fourth quarter of 2009.
The company posted an operating income of $80.8m, compared to an operating income of $83.8m for corresponding quarter in 2009.
For the fourth quarter ended December 31 2010, the company posted a net income of $61m or an EPS of $0.14, compared to a net income of $68m or EPS of $0.20 for the same quarter a year ago.
For the fiscal year 2010, the company’s net revenue increased to $2.3bn from $1.8bn in the previous year.
Operating income for the FY10 increased to $374.2m from $142.6m and net income increased to $290.5m from $61m for the fiscal year 2009.
ON Semiconductor president and CEO Keith Jackson said the company achieved strong financial results in 2010 and continue to make progress in their vision of becoming a premier global supplier of high-performance, silicon offerings for energy efficient electronics.
"We continue to transform our product portfolio and improve our value proposition to customers and in 2010, over 50% of our sales came from sole-sourced products," Jackson said.
The company expects revenue to be in the range of $570 to $590m and gross margin to be in the range of 40% to 41% for the first quarter of 2011.