WASHINGTON (dpa-AFX) - While reporting financial results for the third quarter on Monday, ON Semiconductor Corp. (ON) provided earnings and revenue guidance for the fourth quarter, in line with analysts' estimates.
For the fourth quarter, the company projects earnings in a range of $0.56 to $0.66 per share and adjusted earnings in a range of $0.57 to $0.67 per share on revenues between $1.480 billion and $1.580 billion.
On average, analysts polled expect the company to report earnings of $0.62 per share on revenues of $1.53 billion for the quarter. Analysts' estimates typically exclude special items.
For the third quarter, net income attributable to ON plunged to $255.0 million or $0.63 per share from $401.7 million or $0.93 per share in the prior-year quarter. Revenues for the quarter declined to $1.55 billion from $1.76 billion in the same quarter last year.
The Street was looking for earnings of $0.59 per share on revenues of $1.52 billion for the quarter.
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