MANHASSET, N.Y. Semiconductor supplier ON Semiconductor Corp. reported net earnings of $23.5 million, or 6 cents per share on sales of $313.6 million in the third quarter, up from $18.5 million, or 5 cents per share on sales of $302.8 million in the previous quarter.
Second-quarter earnings included restructuring, asset impairments and other charges of $2.8 million or 1 cent per share.
On a mix-adjusted basis, ON Semiconductor (Phoenix) reported average selling prices dropped 3 percent sequentially. Gross margin, at 33.2 percent, rose 70 basis points sequentially.
For the fourth quarter, ON Semiconductor expects sales to increase 2 to 3 percent sequentially. The company expects average selling prices to drop 2 percent and gross margin to rise.