ON Semi Files for IPO and Reports Fourth-Quarter 1999 Results

February 20, 2000 by Jeff Shepard

ON Semiconductor LLC (Phoenix, AZ) recently announced it has filed for an initial public offering. The company's shares will be handled by a group of underwriters led by Morgan Stanley Dean Witter.

The company also reported its fourth quarter revenues for 1999 increased 19 percent to $427.8 million compared to $395.6 million during the same period in 1998. The company's earnings before interest, taxes, depreciation and amortization (EBITDA) were $102.1 million compared to $80.9 million in 1998.

For the year, ON Semiconductor reported that net revenues rose 10.3 percent to $1.6 billion. Its annual EBITDA reached $372.0 million for the year, up 47.3 percent from the same period in 1998.