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ON SEMICONDUCTOR CORPORATION AND SUBSIDIARIES |
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UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS |
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(in millions, except per share data) |
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| Quarter Ended | |||||||||||||||
| April 3, 2015 | December 31, 2014 | March 28, 2014(1) | |||||||||||||
| Revenues | $ | 870.8 | $ | 864.2 | $ | 706.5 | |||||||||
| Cost of revenues (exclusive of amortization shown below) | 570.4 | 586.5 | 458.3 | ||||||||||||
| Gross profit | 300.4 | 277.7 | 248.2 | ||||||||||||
| Gross margin | 34.5 | % | 32.1 | % | 35.1 | % | |||||||||
| Operating expenses: | |||||||||||||||
| Research and development | 100.4 | 110.9 | 78.1 | ||||||||||||
| Selling and marketing | 53.3 | 56.6 | 44.4 | ||||||||||||
| General and administrative | 46.7 | 46.7 | 41.0 | ||||||||||||
| Amortization of acquisition-related intangible assets | 33.9 | 28.8 | 8.2 | ||||||||||||
| Restructuring, asset impairments and other, net | (2.3 | ) | 10.5 | 5.8 | |||||||||||
| Goodwill and intangible asset impairment | — | 9.6 | — | ||||||||||||
| Total operating expenses | 232.0 | 263.1 | 177.5 | ||||||||||||
| Operating income | 68.4 | 14.6 | 70.7 | ||||||||||||
| Other income (expense), net: | |||||||||||||||
| Interest expense | (9.2 | ) | (9.5 | ) | (8.1 | ) | |||||||||
| Interest income | 0.3 | 0.9 | 0.2 | ||||||||||||
| Other | 3.7 | (2.3 | ) | (0.7 | ) | ||||||||||
| Other income (expense), net | (5.2 | ) | (10.9 | ) | (8.6 | ) | |||||||||
| Income before income taxes | 63.2 | 3.7 | 62.1 | ||||||||||||
| Income tax provision | (7.4 | ) | (3.5 | ) | (6.2 | ) | |||||||||
| Net income | 55.8 | 0.2 | 55.9 | ||||||||||||
| Less: Net income attributable to non-controlling interest | (0.7 | ) | (0.8 | ) | (0.2 | ) | |||||||||
| Net income (loss) attributable to ON Semiconductor Corporation | $ | 55.1 | $ | (0.6 | ) | $ | 55.7 | ||||||||
| Net income per common share attributable to ON Semiconductor Corporation: | |||||||||||||||
| Basic | $ | 0.13 | $ | — | $ | 0.13 | |||||||||
| Diluted | $ | 0.13 | $ | — | $ | 0.13 | |||||||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 431.4 | 435.9 | 440.4 | ||||||||||||
| Diluted | 439.9 | 435.9 | 444.5 | ||||||||||||
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