ON Semiconductor feeds

ON Semiconductor Reports Fourth Quarter and 2009 Annual Results

Wed, 03 Feb 2010 07:00:00 GMT

For the fourth quarter of 2009, highlights include:

Total revenues of approximately $497.1 million
Adjusted EBITDA of $135.4 million or approximately 27.2% of revenue
GAAP net income of $0.15 per fully diluted share
Non-GAAP net income of $0.19 per fully diluted share which includes stock based compensation expense
Record cash, cash equivalents and short-term investments of $571.2 million
Acquired PulseCore Semiconductor for approximately $17 million in an all-cash transaction
Signed definitive merger agreement to acquire California Micro Devices

For 2009, highlights include:

Total revenues of approximately $1.769 billion
Adjusted EBITDA of $381.8 million
GAAP net income of $0.14 per fully diluted share
Non-GAAP net income of $0.38 per fully diluted share which includes stock based compensation expense
Record low net debt position of approximately $362 million

PHOENIX, Ariz. – Feb. 3, 2010 – ON Semiconductor Corporation (Nasdaq: ONNN) today announced that total revenues in the fourth quarter of 2009 were $497.1 million, an increase of approximately 5 percent from the third quarter of 2009. During the fourth quarter of 2009, the company reported GAAP net income of $68.0 million, or $0.15 per fully diluted share. The fourth quarter 2009 GAAP net income included net charges of $16.9 million, or $0.04 per fully diluted share, from special items. The special item details can be found in the attached schedules. During the third quarter of 2009, the company reported a GAAP net income of $29.9 million, or $0.07 per fully diluted share.

Fourth quarter 2009 non-GAAP net income was $84.9 million, or $0.19 per share on a fully diluted basis and includes stock based compensation expense. Stock based compensation expense was previously excluded in our non-GAAP net income and fourth quarter 2009 outlook. We intend to include stock based compensation expense on a go forward basis in our non-GAAP outlook. Third quarter 2009 non-GAAP net income was $57.4 million, or $0.13 per share on a fully diluted basis and includes stock based compensation expense. A reconciliation of these non-GAAP financial measures (and other non-GAAP measures used elsewhere in this release, such as non-GAAP gross margin and adjusted EBITDA) to the company’s most directly comparable measures prepared in accordance with U.S. GAAP are set forth in the attached schedules and on our website at www.onsemi.com.

On a mix-adjusted basis, average selling prices in the fourth quarter of 2009 were down less than one percent when compared to the third quarter of 2009. GAAP gross margin in the fourth quarter was 39.1 percent. Non-GAAP gross margin in the fourth quarter of 2009 was 39.9 percent including stock based compensation expense. Stock based compensation expense was previously excluded in our non-GAAP gross margin outlook for the fourth quarter of 2009. GAAP gross margin in the fourth quarter included a net charge of approximately $3.9 million, or approximately 80 basis points, from special items. The special item details can be found in the attached schedules.

Adjusted EBITDA for the fourth quarter of 2009 was $135.4 million. Adjusted EBITDA for the third quarter of 2009 was $110.2 million.

Total revenues for 2009 were approximately $1.769 billion, a decrease of 14 percent from approximately $2.055 billion in 2008. During 2009, the company reported GAAP net income of $61.0 million. The 2009 GAAP net income included net charges of $104.9 million from special items. During 2008, the company reported a GAAP net loss of $428.9 million. The 2008 GAAP net loss included net charges of $736.7 million from special items, with the largest special item a $544.5 million non-cash goodwill impairment. The special item details can be found in the attached schedules.

The non-GAAP net income for 2009 was $165.9 million, or $0.38 per share on a fully diluted basis and includes stock based compensation expense. The non-GAAP net income for 2008 was $307.8 million, or $0.80 per share on a fully diluted basis and includes stock based compensation expense.

The company’s GAAP gross margin in 2009 was 35.1 percent. GAAP gross margin in 2009 included a net charge of approximately $13.8 million, or approximately 80 basis points from special items. Non-GAAP gross margin in 2009 was 35.9 percent including stock based compensation expense. Stock based compensation expense was previously excluded in our non-GAAP gross margin. The company’s GAAP gross margin in 2008 was 36.3 percent. GAAP gross margin in 2008 included a net charge of approximately $73.1 million, or approximately 350 basis points from special items. Non-GAAP gross margin in 2008 was 39.8 percent including stock based compensation expense. The special item details can be found in the attached schedules.

“In 2009, ON Semiconductor was able to successfully navigate one of the most challenging economic periods in the company’s and industry’s history,” said Keith Jackson, ON Semiconductor president and CEO. “Through the hard work and dedication of our employees, we were able to generate positive operating cash flow in even the most challenging quarter of the year. During 2009, ON Semiconductor reduced its overall gross debt by approximately $76 million and increased its cash, cash equivalents and short-term investments by approximately $113 million. We believe we entered 2010 in the strongest financial position in the company’s history with over $571 million of cash, cash equivalents and short-term investments and lowest net debt position in the company’s history of approximately $362 million. We continue to look for opportunities to grow our product portfolio and completed the acquisition of California Micro Devices Corporation (CMD) on Jan. 27, 2010. CMD’s expertise in protection solutions for the high brightness LED (HBLED) market, as well as their strengths in LC-based EMI (electromagnetic interference) filtering and low capacitance ESD (electrostatic discharge) protection complement our existing portfolio of protection and lighting solutions.”

FIRST QUARTER 2010 OUTLOOK
“Based upon product booking trends, backlog levels and estimated turns levels, we anticipate that total revenues will be approximately $515 to $525 million in the first quarter of 2010,” Jackson said. “Backlog levels at the beginning of the first quarter of 2010 were up from backlog levels at the beginning of the fourth quarter of 2009 and represent over 90 percent of our anticipated first quarter 2010 revenues. We expect that average selling prices for the first quarter of 2010 will be down approximately one to two percent sequentially. The non-GAAP outlook for the first quarter of 2010 includes stock based compensation expense of approximately $13 to $14 million. The following table outlines our first quarter 2010 GAAP and non-GAAP outlook.”

Q1 2010 Business Outlook

* Convertible Notes, Non-cash Interest Expense are included in FASB’s Accounting Standards Codification (“ASC”) Topic 470 Debt.
** Fully diluted share count can vary for among other things, the actual exercise of options or restricted stock units, the incremental dilutive shares from all of the company’s convertible senior subordinated notes, and the repurchase or the issuance of stock or the sale of treasury shares. Please refer to the table on our website for potential changes to the Fully Diluted Share Count.
*** Special Items can include: restructuring, asset impairments and other, net; expensing of appraised inventory fair market value (FMV) step up; amortization of intangibles; goodwill impairments; income tax adjustments to approximate cash taxes; non-cash interest expense and certain other special items as necessary.
**** Regulation G and other provisions of the securities laws regulate the use of financial measures that are not prepared in accordance with generally accepted accounting principles. We believe these non-GAAP measures provide important supplemental information to investors. We use these measures, together with GAAP measures, for internal managerial purposes and as a means to evaluate period-to-period comparisons. However, we do not, and you should not, rely on non-GAAP financial measures alone as measures of our performance. We believe that non-GAAP financial measures reflect an additional way of viewing aspects of our operations that – when taken together with GAAP results and the reconciliations to corresponding GAAP financial measures that we also provide in our releases – provide a more complete understanding of factors and trends affecting our business. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures, even if they have similar names.

FINANCIALS

TELECONFERENCE
ON Semiconductor will host a conference call for the financial community at 5:00 p.m. Eastern Time (ET) on Feb. 3, 2010 to discuss this announcement and ON Semiconductor’s results for the 2009 fourth quarter and annual results. The company will also provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at http://www.onsemi.com. The webcast replay will be available at this site approximately one hour following the live broadcast and will continue to be available for approximately 30 days following the conference call. Investors and interested parties can also access the conference call through a telephone call by dialing (888) 546-9664 (U.S./Canada) or (973) 935-8144 (International). In order to join this conference call, you will be required to provide the Conference ID Number – which is 51283327. Approximately one hour following the live broadcast, the company will provide a dial-in replay that will continue to be available through February 10, 2010. To listen to the teleconference replay, call 800-642-1687 (U.S./Canada) or 706-645-9291 (International). You will be required to provide the Conference ID Number – which is 51283327.

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements related to the future financial performance of ON Semiconductor and our ability to increase cash flow from current levels. These forward-looking statements are based on information available to us as of the date of this release and current expectations, forecasts and assumptions and involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks and uncertainties include a variety of factors, some of which are beyond our control. In particular, such risks and uncertainties include, but are not limited to, difficulties encountered in integrating acquired businesses; the variable demand and the aggressive pricing environment for semiconductor products; dependence on our company’s ability to successfully manufacture in increasing volumes on a cost-effective basis and with acceptable quality for our current products; the adverse impact of competitive product announcements; revenues and operating performance; poor economic conditions and markets, including the current credit markets; the cyclical nature of the semiconductor industry; changes in demand for our products; changes in inventories at customers and distributors; technological and product development risks; availability of raw materials; competitors' actions; pricing and gross margin pressures; loss of key customers; order cancellations or reduced bookings; changes in manufacturing yields; control of costs and expenses; significant litigation; risks associated with acquisitions and dispositions; risks associated with leverage and restrictive covenants in debt agreements; risks associated with international operations including foreign employment and labor matters associated with unions and collective bargaining agreements; the threat or occurrence of international armed conflict and terrorist activities both in the United States and internationally; risks and costs associated with increased and new regulation of corporate governance and disclosure standards (including pursuant to Section 404 of the Sarbanes-Oxley Act of 2002); and risks involving environmental or other governmental regulation. Information concerning additional factors that could cause results to differ materially from those projected in the forward-looking statements is contained in ON Semiconductor’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other of our filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing our views as of any subsequent date and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made.

50 V, 10 mA Constant Current Regulator & LED Driver

Tue, 02 Feb 2010 15:18:20 GMT

NSI50010YT1G : 50 V, 10 mA Constant Current Regulator & LED Driver

Simple, economical, robust current regulation for general and automotive LED lighting; AEC-Q101 qualified
No external components needed; can be a high or low-side regulator
Withstands high voltage surges common in auto, industrial and commercial lighting; negative temperature coefficient protects LEDs from thermal runaway

ON Semiconductor Expands 100 Volt N-Channel MOSFET Portfolio with New High Current Capability, Robust Load Performance Solutions

Mon, 01 Feb 2010 07:00:00 GMT

PHOENIX, Ariz. – Feb 1, 2010– ON Semiconductor (Nasdaq: ONNN) a premier supplier of high performance, energy efficient silicon solutions for green electronics has expanded its N-channel power MOSFET portfolio with the addition of 12 new 100 volt (V) devices. With industry-leading avalanche ratings of up to 500 millijoules (mJ), ON Semiconductor’s fully tested N-channel power MOSFETs are ideal for use in designs where voltage overstress resulting from unclamped inductive loads is a concern.

Typical applications for the company’s 100 V power MOSFET devices include industrial motor control, power supplies, power inverters in uninterruptible power supplies (UPS), and direct gas injection (DGI) in automotive. Key specification features of these Pb-free, RoHS compliant solutions include:

• RDS(on) as low as 13 milliohm (mΩ)
• Current Capability as high as 76 amperes (A)
• 100 percent Avalanche Tested
• AEC-Q101 Qualified

“With the potential for high voltage spikes due to switching inductive loads, and the drive for greater energy efficiency, ON Semiconductor’s N-channel power MOSFETs provide a robust and dependable solution” said Paul Leonard, vice president and general manager of ON Semiconductor’s MOSFET products division. “These new additions to our 100 volt product family give customers greater choice and help them find the optimum device for their specific applications.”

Packaging and Pricing
The NTP641x and NTB641x series of 42 to 76 A devices include the NTB6410AN, NTP6410AN, NTB6411AN, NTP6411AN, NTB6412AN, NTP6412AN, NTB6413AN, and NTP6413AN and are available in Pb-free, RoHS compliant TO-220 and D2PAK packages. The NTD641x series of 17 to 32 A devices include the NTD6414AN, NTD6415AN, NTD6416AN, and NTD6416ANL and are available in Pb-free and RoHS compliant DPAK and IPAK packages. Operating temperature range of all devices is -55°C to +175°C. Pricing for these MOSFETs range from $0.92 to $1.90 USD per unit in 10,000 unit quantities. Samples are available now.

For more information, please visit http://www.onsemi.com

Power Factor Corrected Dimmable LED Driver

Mon, 01 Feb 2010 02:11:37 GMT

NCL30000 : Power Factor Corrected Dimmable LED Driver

Switch mode power supply controller for low to medium power single stage power factor corrected isolated flyback LED drivers
Critical Conduction Mode (CrM) ensures near unity power factor across a wide range of input voltages and output power
Optimized TRIAC dimmable reference designs

4-Channel High Speed Video Driver with SD Reconstruction Filters

Mon, 01 Feb 2010 02:10:07 GMT

NCS2554 : 4-Channel High Speed Video Driver with SD Reconstruction Filters

YPbPr + composite video driver with integrated 6th order Butterworth reconstruction filters at 8 MHz
3 channels each have Standard Definition (SD) filters; fourth channel has a filter driver for CVBS-type video signal
Compatible with DACs embedded in most video processors

30 V, N-Channel MOSFETs

Mon, 01 Feb 2010 02:09:08 GMT

NTD4960N NTD4963N : 30 V, N-Channel MOSFETs

RDS(on) as low as 8 mΩ
Gate Charge as low as 9 nC
DPAK and IPAK packages

Self-Protected MOSFET for Low Side Drive

Mon, 01 Feb 2010 02:08:11 GMT

NCV8405 : Self-Protected MOSFET for Low Side Drive

Switches resistive, inductive, and capacitive loads
Integrated short circuit protection, thermal shutdown, and ESD protection
AEC-Q101 Qualified

High Efficiency 2.0 A Integrated Sync Buck Converter

Mon, 01 Feb 2010 02:05:21 GMT

NCP5252 : High Efficiency 2.0 A Integrated Sync Buck Converter

Integrated high-side and low-side MOSFETs; all in a 3x3 mm QFN-16
Operates from a +5.0 or +12 V supply; adjustable output voltage down to 0.6 V
Switching frequency is adjustable from 333 kHz to 1.0 MHz; automatic skip mode for light load efficiency

ON Semiconductor Corporation Completes Tender Offer for California Micro Devices Corporation

Wed, 27 Jan 2010 07:00:00 GMT

PHOENIX, Ariz. – January 27, 2010 – ON Semiconductor (Nasdaq: ONNN) ON Semiconductor Corporation (Nasdaq: ONNN) today announced the successful completion of its tender offer for California Micro Devices Corporation (Nasdaq: CAMD), which expired January 26, 2010 at 12:00 midnight, New York City time. The 21,257,315 tendered shares represent approximately 90.5 percent of outstanding California Micro Devices Corporation shares. An additional 339,156 shares were tendered by notice of guaranteed delivery. ON Semiconductor has accepted for payment the shares validly tendered and not withdrawn. As a result of the valid tenders and acceptance of payment, ON Semiconductor will own more than 90 percent of outstanding California Micro Devices Corporation shares and expects to promptly complete the acquisition of California Micro Devices Corporation in accordance with applicable provisions of Delaware law that authorize the completion of the merger as a “short form” merger without a vote or meeting of the stockholders of California Micro Devices Corporation.

100 V, N-Channel Power MOSFETs

Tue, 26 Jan 2010 08:14:09 GMT

NTB6411AN NTB6412AN NTB6413AN NTB6410AN NTD6414AN NTD6415AN NTD6416AN NTD6416ANL NTP6411AN NTP6412AN NTP6413AN NTP6410AN : 100 V, N-Channel Power MOSFETs

Industry-leading avalanche ratings up to 500 mJ
Maximum current ratings of 17 – 76 A
DPAK, D2PAK, and TO-220 packages

Quasi-Resonant Current Mode Controller for High Power Universal Off-line Supplies

Tue, 26 Jan 2010 08:12:32 GMT

NCP1379 : Quasi-Resonant Current Mode Controller for High Power Universal Off-line Supplies

Valley lockout operation down to the 4th valley prevents frequency jumping, minimizing audible noise
Frequency foldback at light load improves light load efficiency
Well suited for TV power supplies; a low startup voltage allows the use of an auxiliary power supply to power the device

ON Semiconductor Adds New Clock and Data Driver ICs to its Family of Clock Management Products

Tue, 26 Jan 2010 07:00:00 GMT

PHOENIX, Ariz. – Jan. 26, 2010 – ON Semiconductor (Nasdaq: ONNN), a premier supplier of high performance, energy efficient silicon solutions for greener electronics, today announced an expansion of its family of clock drivers, with the release of the NB7L585, NB7L585R, NB7V585M and NB7V586M differential 2:1 mux input to 1:6 devices, and the NB6HQ14M and NB7HQ14M 1:4 fanout clock/data drivers with equalization.

The NB6HQ14M and NB7HQ14M integrate a selectable equalizer receiver into a high performance differential 1:4 CML clock driver. When placed in series with a data path operating at up to 6.5 gigabits per second (Gbps) or 10 Gbps the inputs will compensate the degraded signal and output four identical CML copies of the original input signal. The serial data rate is thereby increased by reducing Inter-Symbol Interference (ISI) caused by losses in the copper interconnect or long cables.

The NB7L585, NB7L585R, NB7V585M, and NB7V586M are the newest members of the Gigacomm™ family representing a new 2:1:6 function integrating a 2:1 mux with a 1:6 fanout buffer. The NB7L585 and NB7L585R are 2.5 V / 3.3 V devices with either Low Voltage Positive Emitter Coupled Logic (LVPECL) output or Reduced Swing Emitter Coupled Logic (RSECL) output of 400 millivolt (mV) peak-to-peak, respectively. The NB7L585 operates up to 5 gigahertz (GHz) or 8 Gbps and the NB7L585R operates up to 7 GHz or 10 Gbps.

The NB7V585M is an ultra low voltage device operating from a 1.8 V / 2.5 V power supply. The NB7V586M operates from an ultra low 1.8 V supply and offers the 6 outputs configured as three banks of two differential pairs. Each bank of outputs has the flexibility to be powered by any combination of either 1.8 V or 1.2 V supplies. Both devices operate up to clock/data rates of 6 GHz / 10 Gbps.

The specifications achieved by these clock drivers make them highly suited to use in SONET, Gigabit Ethernet, Fiber Channel, backplane and other clock/data distribution applications. The ambient operating temperature of each of these devices covers −40 °C to +85 °C.

“The system designs for telecom switches, servers and routers are under pressure to support ever increasing clock and data interfaces and voltage levels without compromising on the signal quality,” said Prescott Sakai, director, clock and data management business unit, ON Semiconductor. “The company’s new clock drivers enable new integrated functions with equalization features that support various interfaces and low voltage level options. These devices maintain higher signal integrity at data rates that the competing suppliers simply cannot match.”

Packaging and Pricing
Pricing for the NB7L585, NB7L585R, NB7V585M, NB7V586M, NB6HQ14M and NB7HQ14M start from $5.25 in 1,000 unit quantities. They are all offered in low profile 3 mm x 3 mm 16-pin or 5 mm x 5 mm 32-pin Pb-free QFN packages. Samples are available now.

For more information, please visit http://www.onsemi.com.

Quasi-Resonant Current Mode Controller

Mon, 25 Jan 2010 03:23:16 GMT

NCP1380 : Quasi-Resonant Current Mode Controller

Quasi-resonant peak current mode control operation for high efficiency operation in ac-dc adapters and offline battery chargers
Valley lockout operation down to the 4th valley prevents frequency jumping, minimizing noise
Frequency foldback at light load improves light load efficiency; 4 combinations of protection features available

ON Semiconductor to Host Analyst Day and Announces Investor Conference Schedule

Wed, 20 Jan 2010 07:00:00 GMT

PHOENIX, Ariz. – Jan. 20, 2010 – ON Semiconductor (Nasdaq: ONNN) a premier supplier of high performance, energy efficient silicon solutions for green electronics, plans to host an Analyst Day on Friday, February 26, from 8:00 a.m. to 12:00 p.m. Mountain Standard Time (MST) in Scottsdale, AZ.

Additionally, Keith Jackson, ON Semiconductor’s chief executive officer, will present at the following investor conference:

• Deutsche Bank Small & Mid Cap Conference – Tuesday, February 9, 8:00 a.m. (EST) at the Ritz-Carlton, Naples Hotel in Naples, Florida.

ON Semiconductor to Announce Fourth-Quarter and 2009 Financial Results

Thu, 14 Jan 2010 07:00:00 GMT

PHOENIX, Ariz. – Jan. 14, 2010 – ON Semiconductor (Nasdaq: ONNN) a premier supplier of high performance, energy efficient silicon solutions for green electronics plans to announce its financial results for the fourth quarter ending December 31, 2009, after the market closes on Wednesday, February 3, 2010.

The company will host a conference call at 5:00 p.m. Eastern Time (ET) on February 3, following the release of its financial results. Investors and interested parties can access the conference call in the following manner:

Webcast: A live webcast of the conference call will be available via the “Investors” section of the company’s website at http://www.onsemi.com. The re-broadcast of the call will be available at this site approximately one hour following the live broadcast and will continue for 30 days.

Teleconference: A telephone conference of the earnings report can be accessed by dialing 888-546-9664 (U.S./Canada) or 973-935-8144 (International). In order to join this conference call, you will be required to provide the Conference ID Number – which is 51283327.

Teleconference Replay: Approximately one hour following the live broadcast, the company will provide a dial-in replay that will continue to be available through February 10, 2010. To listen to the teleconference replay, call 800-642-1687 (U.S./Canada) or 706-645-9291 (International). You will be required to provide the Conference ID Number – which is 51283327.

2 A, 42 V Dual Protected N-Channel MOSFET

Tue, 29 Dec 2009 05:51:21 GMT

NCV8402D : 2 A, 42 V Dual Protected N-Channel MOSFET

Switches resistive, inductive, and capacitive loads
Integrated overcurrent, overvoltage, overtemperature, and ESD protection
AEC-Q101 Qualified

ON Semiconductor Commences Tender Offer for Acquisition of California Micro Devices Corporation

Mon, 28 Dec 2009 07:00:00 GMT

PHOENIX, Ariz. – Dec. 28, 2009 – ON Semiconductor (Nasdaq: ONNN) today announced that it has commenced its tender offer for the acquisition of California Micro Devices Corporation (Nasdaq: CAMD).

This move represents the next step toward an acquisition first announced on December 14. As previously reported: “The acquisition of California Micro Devices (CMD) will significantly strengthen our offering of application specific integrated passive (ASIP) devices to protect products in the wireless, computing and consumer electronics end-markets,” said Keith Jackson, ON Semiconductor president and CEO. “In addition, CMD’s expertise in protection solutions for the high brightness LED (HBLED) market, as well as their strengths in LC-based EMI (electromagnetic interference) filtering and low capacitance ESD (electrostatic discharge) protection, complement our existing portfolio of protection and lighting solutions. With technology and process development expertise in ESD and EMI protection, CMD is highly differentiated in the marketplace – as demonstrated by their strong relationships with leading global customers across multiple large and growing applications. Combined with ON Semiconductor’s global sales channel footprint and effective channels of distribution, we expect to be able to support a broader and deeper penetration of CMD’s overall product portfolio with market-leading customers. This should enable us to accelerate revenue growth for CMD’s products and increase market share. We also believe CMD’s products and operations will benefit from ON Semiconductor’s world-class manufacturing capabilities.”

The cash tender, through PAC-10 Acquisition Corporation, an indirect, wholly-owned ON Semiconductor subsidiary, is for all outstanding shares of CMD common stock at a price of $4.70 per share, without interest and less any applicable withholding or stock-transfer taxes.

The tender offer is subject to conditions set forth in the Offer to Purchase, including a minimum share-tender condition and other customary conditions, as described in the Offer to Purchase.

Unless extended, the tender offer and any withdrawal rights to which CMD stockholders may be entitled will expire at midnight, U.S. Eastern Time, on Tuesday, January 26, 2010 (which is the end of the day on January 26, 2010). Following acceptance for payment of shares in the tender offer and completion of the transactions contemplated in the merger agreement and described in the Offer to Purchase, CMD will become an indirect, wholly owned subsidiary of ON Semiconductor.

Complete terms and conditions of the tender offer are set forth in the Offer to Purchase, Letter of Transmittal and other related materials filed by ON Semiconductor and PAC-10 Acquisition Corporation with the SEC on December 28, 2009. In addition, on December 28, 2009, CMD filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC relating to the tender offer. Copies of the Offer to Purchase, Letter of Transmittal and other related materials, including the Solicitation/Recommendation Statement, are available free of charge from Georgeson, the information agent for the tender offer, toll-free at (866) 695-6073 or via email at calmicinfo@georgeson.com (banks and brokers call collect (212) 440-9800). Computershare Trust Company, N.A. is acting as depositary for the tender offer. GCA Savvian Advisors, LLC is acting as dealer manager for the tender offer.

Securities Law Disclosure and Additional Information
This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell securities. The tender offer is being made only pursuant to the Offer to Purchase, Letter of Transmittal and related materials that ON Semiconductor and PAC-10 Acquisition Corporation have filed with the SEC on a Tender Offer Statement on Schedule TO on December 28, 2009. In addition, California Micro Devices Corporation has filed a Solicitation Recommendation Statement on Schedule 14D-9 with respect to the tender offer on December 28, 2009. This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements related to the commencement, consummation, and benefits of the proposed transaction between ON Semiconductor Corporation (“ON”) and California Micro Devices Corporation (“California Micro Devices”) and the future financial performance of ON. These forward-looking statements are based on information available to ON and California Micro Devices as of the date of this release and current expectations, forecasts and assumptions and involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks and uncertainties include a variety of factors, some of which are beyond ON’s or California Micro Devices’ control. In particular, such risks and uncertainties include difficulties encountered in integrating merged businesses; the risk that the tender offer is unsuccessful (either because enough shares are not tendered or because other conditions are not timely satisfied) or that the follow-on merger does not close or is delayed, including the risk that the requisite stockholder and regulatory approvals, if any, may not be obtained; the possibility that expected benefits and cost savings may not materialize as expected, the variable demand and the aggressive pricing environment for semiconductor products; dependence on each company’s ability to successfully manufacture in increasing volumes on a cost-effective basis and with acceptable quality for its current products; the adverse impact of competitive product announcements; revenues and operating performance; poor economic conditions and markets, including the current credit markets; the cyclical nature of the semiconductor industry; changes in demand for our products; changes in inventories at customers and distributors; technological and product development risks; availability of raw materials; competitors' actions; pricing and gross margin pressures; loss of key customers; order cancellations or reduced bookings; changes in manufacturing yields; control of costs and expenses; significant litigation; risks associated with acquisitions and dispositions; risks associated with leverage and restrictive covenants in debt agreements; risks associated with international operations including foreign employment and labor matters associated with unions and collective bargaining agreements; the threat or occurrence of international armed conflict and terrorist activities both in the United States and internationally; risks and costs associated with increased and new regulation of corporate governance and disclosure standards (including pursuant to Section 404 of the Sarbanes-Oxley Act of 2002); and risks involving environmental or other governmental regulation. Information concerning additional factors that could cause results to differ materially from those projected in the forward-looking statements is contained in ON Semiconductor’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2009, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other of ON Semiconductor’s SEC filings, and California Micro Devices’ Annual Report on Form 10-K, as filed with the SEC on June 15, 2009, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other of California Micro Devices’ SEC filings. These forward-looking statements should not be relied upon as representing ON Semiconductor’s or California Micro Devices views as of any subsequent date and neither undertakes any obligation to update forward-looking statements to reflect events or circumstances after the date they were made.

CONTACTS
Anne Spitza
Corporate Communications
ON Semiconductor
(602) 326-0071
anne.spitza@onsemi.com

Ken Rizvi
M&A, Treasury & Investor Relations
ON Semiconductor
(602) 244-3437
ken.rizvi@onsemi.com

ON Semiconductor to Acquire California Micro Devices for $4.70 per Share in an All-Cash Tender Offer

Mon, 14 Dec 2009 07:00:00 GMT

PHOENIX, Ariz. and MILPITAS, Calif. – Dec. 14, 2009 – ON Semiconductor (Nasdaq: ONNN) and California Micro Devices (Nasdaq: CAMD) today announced the signing of a definitive merger agreement pursuant to which ON Semiconductor will acquire California Micro Devices (CMD) through a cash tender offer of $4.70 per share. With net cash, cash equivalents and short-term investments of approximately $45 million at the end of November 2009, the transaction value of CMD represents an enterprise value of approximately $63 million and an equity value of approximately $108 million, based on common stock outstanding and issued. The proposed transaction and related merger agreement have been approved by each company’s board of directors.

ON Semiconductor Launches Automotive-Qualified Self Protected Low-Side Driver ICs

Fri, 11 Dec 2009 07:00:00 GMT

PHOENIX, Ariz. – Dec. 11, 2009 – ON Semiconductor (Nasdaq: ONNN) a leading global supplier of high performance, energy efficient silicon solutions, today introduced a family of low-side protected MOSFETs that feature high levels of integrated protection. Qualified in accordance with the AEC-Q101 standard, devices in the NCV840x family are ideal for use in switching applications operating in harsh automotive and industrial environments.

Designed for robust and reliable operation, the NCV8401, NCV8402, NCV8402D (dual die), NCV8403 and NCV8405 all have an extensive range of self-protection features. These include temperature and current limiting, electrostatic discharge (ESD) protection, and integrated drain-to-gate clamping for overvoltage protection.

“With the amount of electronic content in vehicles continuing to increase, there is a need to offer semiconductor solutions that can help reduce component count and save valuable space,” said Jim Alvernaz, director of Automotive Power products at ON Semiconductor. “The NCV840x family will help designers to achieve this while delivering system designs that are rugged enough to cope with harsh automotive environments.”

Features and Benefits
NCV840x drivers can be used to switch a variety of resistive, inductive and capacitive loads and allow design engineers to replace electromechanical relays or discrete circuits with an alternative that is more compact and robust and that has a longer operational life. All of the devices have a logic level input.

The NCV8401, NCV8402/D and NCV8403 have a drain-to-source voltage rating (VDSS) of 42 volts (V) and maximum drain currents (ID) of 33 amperes (A), 2 A and 15 A respectively. The NCV8405 is rated to 40 VDSS and has a maximum ID rating of 6 A. Gate-to-source voltage for all devices is ±14 V.

All members of the new family exhibit low on resistance (RDS(ON)) values that enable more energy efficient system designs. Respective RDS(ON) values ( at 10 V) are 23 milliohms (mΩ) for the NCV8401; 165 mΩ for the NCV8402/D; 53 mΩ for the NCV8403; and 90 mΩ for the NCV8405.

The devices all have a wide operating temperature range of −40 °C to 150 °C and high electro-static resistance levels (4000 V at a junction temperature of 25 °C). Turn-off temperature limit is set at 175 °C when VGS is 5 V and 165 °C when VGS is 10 V.

Packaging and Pricing
The NCV840x devices are available in a Pb-free SOT-223, DPak and SOIC8 packaging. The NCV840x devices are priced between $0.25 to $0.58 USD per unit in 1,000 unit quantities.

For more information, please visit http://www.onsemi.com.

ON Semiconductor Launches Miniature Integrated Driver ICs with High Current Capability that Reduce Space in Stepper Motor Designs

Thu, 03 Dec 2009 07:00:00 GMT

Phoenix, Ariz. – Dec. 3, 2009 - ON Semiconductor (Nasdaq: ONNN), a leading global supplier of high performance, energy efficient, silicon solutions has announced two new highly integrated driver ICs that will drive high current motors with reduced component count and board space in stepper motor based applications. The new AMIS-30532 and AMIS-30542 micro-stepping stepper motor drivers have high current capabilities with integrated H-bridges and are ideal for motion control designs in automotive, industrial, office equipment, medical, security and marine applications.

Designed for use with two-phase stepper motors and a host microcontroller, the AMIS-30542 mixed-signal motor driver ICs provide high-accuracy and reliable motor control and deliver maximum current outputs of 2.2 ampere (A) continuous and 5.0 A peak. Each device integrates smart motor control capability with voltage regulation, on-board current sensing and a number of protection and diagnostic functions. This level of integration eliminates the need for external switches and sense resistors. The on- board speed and load angle feedback allows removing expensive end of line switches and hall sensors on applications ranging from surveillance cameras, robotics to printers, industrial automation equipment and textile machines.

The new ICs feature two embedded H-bridges and connect to a host microcontroller via an SPI interface and dedicated I/O pins. Each chip provides speed and load-angle output, which allows for the accurate control of motor torque and speed as well as the creation of stall detection algorithms. Seven step modes can be configured, from full step to 32 micro-steps. An on-chip current translator is used to calculate the appropriate PWM current based on the clock signal at the ‘NXT’ input pin and the status of the Direction (DIR) register or input pin. The PWM current control includes automatic selection of fast and slow decay modes.

Both the AMIS-30532 and AMIS-30542 are compatible with 5 volt (V) and 3.3 V microcontrollers. The integrated voltage regulator can be used to provide microcontroller power, thus minimizing further the need for external components. Each device also incorporates a microcontroller reset function and an integrated watchdog function. Thermal warning and shutdown functionality and full output protection and diagnosis capabilities are also provided.

“Combining high-accuracy speed and torque control with higher integrated current capability is addressing a broader range of motors and emerging applications while saving space and reducing component count,” said Guido Remmerie, director motion control and energy management products at ON Semiconductor. “Combining industry-leading levels of integration with ultra-miniature NQFP packaging, the AMIS-30532 and AMIS-30542 address these criteria at the same time as providing the reliability required for demanding applications such as those in the industrial and automotive arenas.”

Packaging and Pricing
The AMIS-30532 and AMIS-30542 are available in an NQFP-32 package that offers profiles of less than 1 mm and footprints of 7 x 7 mm. The per unit prices for quantities of 1000 pieces are: $5.30 for the AMIS-30532 for and $5.60 for the AMIS-30542.

For additional information, visit www.onsemi.com.