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ON Semiconductor Q2 Results Top Estimates; To Explore Sale Of Niigata Facility In Japan

(RTTNews) - ON Semiconductor Corp. (ON) reported that its second-quarter net loss attributable to the company was $1.4 million or break even per share, compared to net income $101.8 million or $0.24 per share in the prior year.

Non-GAAP basis, earnings per share were $0.12 compared to $0.42 in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenue was $1.21 billion, down about 10 percent from the previous year. Analysts expected revenue of $1.18 billion for the quarter.

The company anticipates 2020 third quarter revenue to be about $1.200 billion to $1.330 billion. Analysts expect revenue of $1.27 billion for the third quarter.

In a separate, ON Semiconductor said that it is exploring a sale of its manufacturing facility in Niigata, Japan.
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