On Semi raises sales despite headwinds

Business news |
By Peter Clarke

The company revenue in 4Q18 was $1,503.1 million an increase of 9 percent year on year but down 3 percent sequentially. The company made a net profit under GAAP rules of $165.6 million down from $529.9 million in the same quarter a year before.

“We once again delivered strong performance in the fourth quarter despite slowdown in macroeconomic conditions. Key secular trends driving growth in our content in automotive, industrial, and cloud-power end-markets remain intact, and we remain upbeat about our medium to long term outlook. Our design-win pipeline in our strategic markets is growing at a strong pace, our customer engagements are strengthening, and our competitive position is improving significantly,” said CEO Keith Jackson, in a statement.

The outlook for the first quarter is revenue of between $1,365 million and $1,415 million, a sequential decline of 7.5 percent at the mid-point.

For the full year 2018 On Semi revenue was $5,878.3 million, up 6.0 percent on 2017. The net income was $629.9 million down from $813.0 million in 2017.

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