ON Semiconductor Corp. (Phoenix, AZ) announced that total product revenues in the fourth quarter of 2001 were $267.0 million, a decrease of three percent from the third quarter of 2001. Excluding amortization of intangibles, restructuring and other non-recurring charges, the company had a net loss of $62.0 million, or $0.37 per diluted share, in the fourth quarter of 2001. The fourth-quarter 2001 results were in line with First Call consensus estimates.
Including amortization of intangibles, restructuring and other non-recurring charges, the company reported a net loss of $451.0 million, or $2.60 per diluted share, in the fourth quarter of 2001. The net loss in the fourth quarter of 2001 included a non-recurring charge of $367.0 million to establish a valuation allowance relating to the company's net deferred tax assets.
For the year, total product revenues were $1,206.0 million in 2001, a decrease of 36 percent from pro-forma 2000. Excluding amortization of intangibles, restructuring and other non-recurring charges, the company had a net loss of $200.0 million, or $1.16 per diluted share, in 2001. Including amortization of intangibles, restructuring and other non-recurring charges, the company reported a net loss of $831.0 million, or $4.88 per diluted share, in 2001.
