ON Semiconductor Q4 Profit Rises

(RTTNews) - ON Semiconductor Corp. (ON) reported that its net income attributable to the company for the fourth-quarter rose to $110.9 million or $0.26 per share from $54.1 million or $0.13 per share in the prior year.

Total revenues in the fourth quarter of 2016 were $1.26 billion, up from $840.3 million in the prior year. he latest-quarter revenue included contribution of approximately $358 million from acquisition of Fairchild, which closed on September 19, 2016.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share and revenues of $1.22 billion for the fourth-quarter. Analysts' estimates typically exclude special items.

The company anticipates that total revenue will be about $1.215 billion to $1.265 billion in the first quarter of 2017. Analysts project first-quarter revenue of $1.20 billion.