PHOENIX -- On Semiconductor Corp. today reported sales of $275.4 million for its third quarter ended Sept. 30, a decrease of 10% from the second quarter of 2001 and a decline of 47% in the like period a year ago.
Excluding amortization of intangibles and non-recurring charges, the company had a net loss of $63.3 million, or minus $0.37 per diluted share, in the third quarter, compared to net of $30.2 million, or $0.17 per diluted share, in the year-ago period.
Including amortization of intangibles and non-recurring charges, the company reported a net loss of $68.9 million, or minus $0.47 per diluted share, in the third quarter, compared to net income of $26.9 million, or $0.15 per diluted share, in the third quarter of 2000.
"During this quarter, orders were sequentially up across all product families and the book-to-bill ratio was greater than one for the first time in more than a year," said Steve Hanson, On's president and CEO.
"We remain cautious about the macroeconomic environment for the near future, giving us a conservative expectation for fourth quarter revenues to be flat to slightly down from the third quarter," he said. "We anticipate fourth quarter operating margins to be similar to the third quarter as we continue to execute on our cost-restructuring efforts that are designed to improve our overall financial health," he said.
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