ON Semiconductor Profit Tops Estimates, Q1 Outlook Strong; Stock Up 5%

(RTTNews) - ON Semiconductor Corp (ONNN) on Thursday reported fourth-quarter net earnings of $4.9 million or $0.01 per share compared with $37.8 million or $0.08 per share last year.

Results for the recent quarter were hurt by about $71.4 million of special items, the company said.

Excluding amortization expense and other items, adjusted earnings for the quarter were $0.17 per share compared with $0.16 per share a year ago.

Revenues for the quarter were $864.2 million compared with $718 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.16 per share on revenues of $856 million for the quarter. Analysts' estimates typically exclude special items.

For the first quarter, the company expects revenues of $840 million to $880 million, while analysts expect $843.6 million.