ON Semiconductor LLC (Phoenix, AZ) announced that it currently expects to exceed its most recent guidance for revenue and gross margin for the second quarter ending June 28, 2002. It also expects to increase its cash position as of the end of the second quarter.
Revenues for the quarter are currently expected to be in the range of $275.0 million to $280.0 million as compared to its previous guidance of $270.0 million to $275.0 million. Gross margins are expected to increase by 500 to 600 basis points over the first quarter, at the upper end of its previous guidance of 25 to 27 percent. The increased revenue and gross margin, together with working capital improvements, are expected to generate cash growth in the second quarter; a full quarter ahead of previous guidance.
"We now are focused on growing the business as we have performed on our cost-reduction programs," said Steve Hanson, president and CEO. "Looking forward to the third and fourth quarters, our diverse market strategy and global position is paying off as the majority of our products address the needs of broad market applications.
