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