- Revenue of $1,377.6 million
- Gross margin of 37.6 percent
- GAAP operating margin of 13.5 percent and non-GAAP operating margin of 15.7 percent
- Operating cash flow of $226.5 million and free cash flow of $127.0 million
- GAAP earnings per share of $0.31 and non-GAAP earnings per share of $0.40
ON Semiconductor Corporation announced that total revenue in the first quarter of 2018 was $1,377.6 million, down approximately 4 percent compared to GAAP revenue in the first quarter of last year. First quarter 2018 revenue was up approximately 7 percent compared to non-GAAP revenue in the first quarter of last year, which excluded the one-time impact from a change in revenue recognition to the “sell-in” method from the “sell-through” method. First quarter 2018 revenue was approximately flat as compared to revenue in fourth quarter of 2017.
“We delivered strong revenue and margin performance in the first quarter. We are seeing an upwards inflection in long-term demand for our products, driven by strengthening engagement with our customers on their long-term strategic projects and broad-based acceptance of our products for automotive and industrial markets,” said Keith Jackson, president and CEO of ON Semiconductor. “Along with robust revenue performance, we continue to deliver impressive margin performance driven by solid execution, improving mix, and operating leverage. We continue to make strong progress towards our target financial model.”
“Sustained demand has put pressure on the semiconductor industry’s supply chain. We are pro-actively investing in our operations to further strengthen our industry leading cost structure and to ensure supply for our customers.”
For more information, visit http://www.onsemi.com.
