ON Semiconductor Corp. (ONNN) posted third quarter GAAP net income of $29.9 million or $0.07 per share, compared to $50.6 million or $0.13 per share in the prior year quarter. The third quarter 2009 GAAP net income included net charges of $41.0 million, or $0.09 per share, from special items.
Third quarter non-GAAP net income was $70.9 million or $0.16 per share, compared to $100.4 million or $0.25 per share in last year quarter.
On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $0.10 per share. Analysts' estimates typically exclude special items.
Total revenues for the third quarter were $472.9 million, compared to $581.5 million in the same quarter last year. Nineteen Wall Street analysts expected revenues of $454.91 million.
Looking forward, for the fourth quarter of 2009, the company expects total revenues to be in the range of $480 to $495 million. Wall Street analysts expect revenues of $467.25 million.
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