ON Semiconductor revenue falls on reduced orders; CFO quits
Aug 2 (Reuters) - Chipmaker ON Semiconductor Corp's quarterly revenue fell 18 percent on decreased orders and the company said Chief Financial Officer Donald Colvin resigned.
The company's net income for the second quarter fell to $6.9 million, or 2 cents per share, from $34.3 million, or 7 cents per share, a year earlier.
Excluding items, the company earned 14 cents per share.
Revenue fell to $744.8 million from $905.8 million a year earlier.
Analysts on average had expected earnings of 14 cents per share on revenue of $764.7 million, according to Thomson Reuters I/B/E/S.
The company's shares fell 8 percent in extended trade. They had closed at $6.84 on Thursday on the Nasdaq.
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