* Expects first-quarter rev $645-$685 mln vs est $663.8 mln
* Fourth-quarter adj earnings $0.08/share vs est $0.07
* Fourth-quarter revenue $680.2 mln vs $671.2 mln
Feb 7 ON Semiconductor Corp, a maker of
power-management chips, reported quarterly revenue above
analysts' estimates and forecast current-quarter sales largely
above market expectations as it anticipates a rebound in demand.
The company expects first-quarter revenue of $645 million to
$685 million, while analysts are expecting $663.8 million,
according to Thomson Reuters.
ON Semiconductor said new design wins and increasingly lean
inventory levels at customers and distributors suggests that it
was seeing the bottom of the down cycle.
"Backlog levels for the first quarter of 2013 represent
about 80 percent to 85 percent of our anticipated first-quarter
2013 revenue," Chief Executive Keith Jackson said in a
The company, which makes radio-frequency custom chips for
consumer, automotive and industrial markets, struggled with weak
demand throughout last year, after floods in Thailand in late
2011 affected production as well as demand from customers.
ON Semiconductor counts Flextronics, Samsung
Electronics Co Ltd, Sony Corp and Panasonic
Corp among its customers.
SANYO DRAGS RESULTS
Fourth-quarter net loss attributable to the company widened
to $138.2 million, or 31 cents per share, from $8.8 million, or
2 cents per share, a year earlier.
The bigger loss was mainly due to lower orders from its
customers and asset-impairment charges stemming from its Sanyo
The company, which has been trying to turn around the
loss-making Sanyo unit that it acquired in January 2011, took a
$150.4 million non-cash asset impairment charge related to the
unit in the fourth quarter.
The Sanyo unit designs, manufactures and sells radio
frequency and power-related components used in flash memory
devices and touch sensors.
"In 2013, we will continue to take additional actions at our
SANYO Semiconductor Products Group to reduce the break-even
level and return this operating segment to profitability,"
The company cut about 250 jobs and canceled annual cash
bonuses for senior executives in August to reduce costs.
Excluding charges, the company earned 8 cents per share.
Fourth-quarter revenue fell 11 percent to $680.2 million.
Analysts expected adjusted earnings of 7 cents per share, on
revenue of $671.2 million.
The Phoenix, Arizona-based company's shares were down 1
percent at $8.10 before the bell. They closed at $8.19 on the
Nasdaq on Wednesday.