ON Semiconductor Corp. Q4 Profit Decreases, but beats estimates

(RTTNews) - ON Semiconductor Corp. (ON) reported a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $562.8 million, or $1.28 per share. This compares with $604.8 million, or $1.35 per share, in last year's fourth quarter.

Excluding items, ON Semiconductor Corp. reported adjusted earnings of $540.9 million or $1.25 per share for the period.

Analysts on average had expected the company to earn $1.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.8% to $2.02 billion from $2.10 billion last year.

ON Semiconductor Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $562.8 Mln. vs. $604.8 Mln. last year. -EPS (Q4): $1.28 vs. $1.35 last year. -Analyst Estimates: $1.21 -Revenue (Q4): $2.02 Bln vs. $2.10 Bln last year.

-Guidance: Next quarter EPS guidance: $0.98 - $1.10 Next quarter revenue guidance: $1,800 - $1,900 Mln