News

# ON Semiconductor Reports First-Quarter 2004 Results

April 28, 2004 by Jeff Shepard

ON Semiconductor Corp. (Phoenix, AZ) announced that total revenues in the first quarter of 2004 were $308.2 million, an increase of 11 percent from the fourth quarter of 2003. During the first quarter of 2004, the company reported a net loss of$47.6 million, or $0.23 per share, that included restructuring, asset impairments and other charges of$13.1 million, or $0.06 per share, and a loss on debt prepayment of$33 million, or $0.14 per share. During the fourth quarter of 2003, the company reported a net loss of$42.4 million, or $0.21 per share, that included restructuring, asset impairments and other charges of$29.9 million, or $0.14 per share, and a loss on debt prepayment of$1.3 million, or \$0.01 per share.

On a mix-adjusted basis, average selling prices in the first quarter of 2004 were up approximately one percent from the fourth quarter of 2003. The company's gross margin in the first quarter was 31.1 percent, an increase of approximately 300 basis points as compared to the fourth quarter of 2003, due to a combination of increased average selling prices, improved product mix, increased unit volumes and cost reductions.