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microe
save more, spend less, and work harder. simple like that. President is not the ...
timemerchant
The sales figures are bad for most folk, and the banking news/ethics are not ...
ON Semi plans more job cuts
Dylan McGrath
8/2/2012 5:23 PM EDT
Q2 sales, Q3 guidance short of expectations
ON Semi reported second quarter sales of $744.8 million, roughly flat with the previous quarter but down 18 percent compared with the second quarter of 2011. The company reported a net income in accordance with generally accepted accounting principles (GAAP) of $6.9 million, or 2 cents per diluted share, down from $57.5 million or 12 cents per diluted share in the previous quarter and $41 million or 9 cents per diluted share in the second quarter of 2011.
Second quarter GAAP net income was weighed down by $58.1 million in restructuring and other charges, ON Semi said.
On a non-GAAP basis, excluding charges, ON Semi reported a second quarter net income of $65 million, or 14 cents per diluted share, up 13 percent compared to the previous quarter but down 43 percent compared with the year-ago quarter.
Second quarter sales came up short of consensus analysts' expectations of about $765 million, according to Yahoo Finance. Non-GAAP earnings per share was in line with consensus analysts expectations, according to Yahoo Finance.
Jackson noted that ON Semi's second quarter sales fell within the lower end of the company's target for the quarter. But he said the company experienced a slowdown in orders in June. Due to global macroeconomic uncertainty and conservative order trends from customer through July, On Semi expects third quarter sales to be roughly flat with the second quarter, Jackson said.
Jackson said he expects ON Semi's front-end capacity utilization to decline from about 80 percent in the second quarter to 70 to 75 percent in the third quarter. On the back end, Jackson said he expects capacity utilization to fall from 90 percent to 80 to 85 percent.
Officially, ON Semi said it expects third quarter sales to be between $725 million and $765 million, with gross margin between 33.5 and 34.5 percent, down from 34.7 percent in the second quarter. The company said it expects average selling prices for its parts to decline by 1 to 2 percent in the third quarter.
ON Semi's third quarter revenue target came up well short of consensus analysts' expectations of about $800 million, according to Yahoo Finance.
"Unfortunately, due to the global macroeconomic environment, we are not expecting to see normal seasonal growth in the second half of 2012," Colvin said.
ON Semi reported second quarter sales of $744.8 million, roughly flat with the previous quarter but down 18 percent compared with the second quarter of 2011. The company reported a net income in accordance with generally accepted accounting principles (GAAP) of $6.9 million, or 2 cents per diluted share, down from $57.5 million or 12 cents per diluted share in the previous quarter and $41 million or 9 cents per diluted share in the second quarter of 2011.
Second quarter GAAP net income was weighed down by $58.1 million in restructuring and other charges, ON Semi said.
On a non-GAAP basis, excluding charges, ON Semi reported a second quarter net income of $65 million, or 14 cents per diluted share, up 13 percent compared to the previous quarter but down 43 percent compared with the year-ago quarter.
Second quarter sales came up short of consensus analysts' expectations of about $765 million, according to Yahoo Finance. Non-GAAP earnings per share was in line with consensus analysts expectations, according to Yahoo Finance.
Jackson noted that ON Semi's second quarter sales fell within the lower end of the company's target for the quarter. But he said the company experienced a slowdown in orders in June. Due to global macroeconomic uncertainty and conservative order trends from customer through July, On Semi expects third quarter sales to be roughly flat with the second quarter, Jackson said.
Jackson said he expects ON Semi's front-end capacity utilization to decline from about 80 percent in the second quarter to 70 to 75 percent in the third quarter. On the back end, Jackson said he expects capacity utilization to fall from 90 percent to 80 to 85 percent.
Officially, ON Semi said it expects third quarter sales to be between $725 million and $765 million, with gross margin between 33.5 and 34.5 percent, down from 34.7 percent in the second quarter. The company said it expects average selling prices for its parts to decline by 1 to 2 percent in the third quarter.
ON Semi's third quarter revenue target came up well short of consensus analysts' expectations of about $800 million, according to Yahoo Finance.
"Unfortunately, due to the global macroeconomic environment, we are not expecting to see normal seasonal growth in the second half of 2012," Colvin said.
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goafrit
8/3/2012 6:50 AM EDT
It was Sharp few days ago. Now, it is OnSemi. It is very possible that we are having major problems in the industry.
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moronda
8/3/2012 11:24 AM EDT
Yes, and the problem's name is President Obama. Hopefully he will get fired himself soon.
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yalanand
8/5/2012 2:04 AM EDT
Things are getting tougher day by day. Recently Sony too announced job cuts. But the only way companies can survive this recession is to innovate and release some innovative products to market.
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timemerchant
8/5/2012 9:08 PM EDT
The sales figures are bad for most folk, and the banking news/ethics are not improving either. To blame any president, or for analysts to expect better returns during the present downturn, is the madness we live in. People are not spending as clownsumers like they did in the past, so it stands to reason that consumer products and high price ticket items like cars will take a dive as people scramble for cover. I'll keep the car for another year, same for the phones and PCs etc. However, I will stockpile a little red wine as long as the price does not spike. At least that keeps its value and brings pleasure! I do feel for those loosing their livelihoods, as it does not look like they will ever return. The youngsters might think twice about getting into this cyclical industry with such massive retrenchments with little shelter in bad times.
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microe
8/6/2012 5:54 PM EDT
save more, spend less, and work harder. simple like that. President is not the God. He can do little if people won't change
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