- Record quarterly revenues of approximately $583.3 million an increase of approximately 6 percent from the first quarter of 2010
- Record GAAP gross margin of 41.8 percent
- Record non-GAAP gross margin of 42.5 percent
- GAAP net income of $0.18 per fully diluted share
- Non-GAAP net income of $0.24 per fully diluted share which includes stock based compensation expense
- Prepayment and termination of Senior Secured Credit Facilities totaling approximately $170 million
- Completed the acquisition of Sound Design Technologies, Ltd for approximately $22 million in cash
- Announced the signing of the definitive purchase agreement to acquire SANYO Semiconductor for approximately ¥33.0 billion
PHOENIX, Ariz. – Aug. 4, 2010 – ON Semiconductor Corporation (Nasdaq: ONNN) today announced that total revenues in the second quarter of 2010 were $583.3 million, an increase of approximately 6 percent from the first quarter of 2010. During the second quarter of 2010, the company reported GAAP net income of $78.7 million, or $0.18 per fully diluted share. The second quarter 2010 GAAP net income included net charges of $24.7 million, or $0.06 per fully diluted share, from special items. Also included in the operating expenses during the second quarter of 2010 was approximately $4 million of acquisition related expenses. The special item details can be found in the attached schedules. During the first quarter of 2010, the company reported a GAAP net income of $63.0 million, or $0.14 per fully diluted share.
