Free Post Earnings Research Report: ON Semiconductor’s Q4 Non-GAAP EPS Surged 34% Y-o-Y

LONDON, UK / ACCESSWIRE / February 26, 2018 / Active-Investors.com has just released free earnings report on ON Semiconductor Corp. (NASDAQ: ON). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ON. The Company posted its financial results on February 02, 2018, for the fourth quarter fiscal 2017 (Q4 FY17) and full year fiscal 2017 (FY17). The Phoenix, Arizona-based Company reported a 9% and 34% y-o-y growth in its quarterly revenues and non-GAAP diluted EPS; outperforming market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, ON Semiconductor most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the three months ended on December 31, 2017, ON Semiconductor reported revenues of $1.38 billion, which is above the $1.26 billion recorded at the end of Q4 FY16. Furthermore, revenues for the reported beat market forecasts of $1.35 billion.

The semiconductor components maker reported net income attributable to ON Semiconductor of $529.9 million, or $1.22 per diluted share, in Q4 FY17 compared to $110.9 million, or $0.26 per diluted share, in Q4 FY16. Meanwhile, the Company posted non-GAAP net income attributable to ON Semiconductor of $167.3 million, or $0.39 per diluted share, in Q4 FY17, up from $123.0 million, or $0.29 per diluted share, in the same quarter last year. Moreover, Wall Street had expected non-GAAP net income of $0.37 per diluted share for Q4 FY17.

ON Semiconductor's revenues for full-year FY17 came in at $5.54 billion, rising from the year ago $3.91 billion. The Company's net income attributable to ON Semiconductor stood at $810.7 million, or $1.89 per diluted share, in FY17 versus $182.1 million, or $0.43 per diluted share, in FY16. Additionally, non-GAAP net income attributable to ON Semiconductor grew to $624.5 million, or $1.46 per share, in FY17, up from $382.3 million, or $0.91 per diluted share, in the last year's same period.

Operating Metrics

In the three months ended on December 31, 2017, the Company reported cost of revenues of $863.3 million compared to $876.5 million in Q4 FY16. The Company's non-GAAP gross profit improved during Q4 FY17 to $516.8 million, or 37.5% of revenues. from $443.3 million, or 35.2% of revenues, in the prior ago corresponding quarter.

During the reported quarter, research and development (R&D) expenses came in at $158.0 million versus $139.8 million in the last year's same quarter. Selling and marketing costs during Q4 FY17 was $80.3 million, versus $79.4 million in Q4 FY16. General and administrative (G&A) expenses for the reported quarter came in at $71.0 million compared to $72.2 million in the prior year's same quarter. The Company reported non-GAAP operating income for Q4 FY17 of $211.5 million, or 15.4% of revenues, compared to $162.2 million, or 12.9% of revenues in the previous year's comparable quarter. Meanwhile, adjusted EBITDA rose to $303.9 million during Q4 FY17 from $252.0 million in Q4 FY16.

Cash Flow & Balance Sheet

During the fourth quarter ended on December 31, 2017, ON Semiconductor generated $224.3 million in cash from operations versus $229.4 million in the fourth-quarter of fiscal 2016. The Company's free cash flow in Q4 FY17 was $48.6 million compared to $179.5 million in the previous year's same quarter.

ON Semiconductor had $949.2 million in cash and cash equivalents as on December 31, 2017, compared to $1.03 billion as on December 31, 2016. Furthermore, the Company's long-term debt stood at $2.70 billion as on December 31, 2017, compared to $3.07 billion as on December 31, 2016.

Outlook

In its guidance for Q1 FY18, ON Semiconductor expects revenues in the range of $1.34 billion to $1.39 billion. Non-GAAP gross margin is expected to be between 36.4% and 38.4% for Q1 FY18. The Company's management further anticipates non-GAAP operating expenses to be in the range of $290 million to $304 million during Q1 FY18.

Stock Performance Snapshot

February 23, 2018 - At Friday's closing bell, ON Semiconductor's stock advanced 2.59%, ending the trading session at $23.74.

Volume traded for the day: 4.39 million shares.

Stock performance in the last three-month – up 8.20%; previous six-month period – up 45.64%; past twelve-month period – up 51.98%; and year-to-date – up 13.37%

After last Friday's close, ON Semiconductor's market cap was at $10.08 billion.

Price to Earnings (P/E) ratio was at 28.16.

The stock is part of the Technology sector, categorized under the Semiconductor - Broad Line industry. This sector was up 1.9% at the end of the session.

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