* Sees Q3 revenue $725 mln-$765 mln vs est $803.0 mln
* CFO resigns, co says mutual agreement
* Q2 revenue $744.8 mln vs est $764.7 mln
* Q2 adj EPS $0.14 vs est $0.14
* Shares down 8 pct after market
Aug 2 Power-management chipmaker ON
Semiconductor Corp reported lower-than-expected
quarterly revenue, hurt by a fall in orders, and forecast
third-quarter revenue below estimates, sending its shares down 8
percent in extended trade.
The company said Donald Colvin, its chief financial officer
of nine years, has resigned.
Colvin will stay with the company for up to 90 days while
the chipmaker finds a replacement.
ON Semiconductor, which competes with Infineon,
Intersil Corp and Fairchild Semiconductor,
expects third-quarter revenue of about $725 million to $765
million, compared with analysts' expectations for $803 million,
according to Thomson Reuters I/B/E/S.
The company, which makes radio-frequency custom chips for
consumer, automotive and industrial markets, cited lower orders
from customers for its weak third-quarter outlook.
It counts Flextronics, Samsung Electronics Co Ltd
, Sony Corp and Panasonic Corp
among its customers.
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
Excluding items, company earned 14 cents per share.
Revenue fell to $744.8 million from $905.8 million a year
Analysts on average had expected earnings of 14 cents per
share on revenue of $764.7 million, according to Thomson Reuters
ON Semiconductor also cut 10 percent jobs in one of its core
segments, the SANYO Semiconductor products group, it said in a
The Phoenix, Arizona-based company's shares fell 8 percent
in extended trade. They had closed at $6.84 on Thursday on the