Orders Down, Profits Slip at ON Semiconductor
PHOENIX, Nov. 3, 2014 — With CEO Keith Jackson citing a slowdown in orders, third-quarter profits slipped 19.7 percent to 41.6 million at ON Semiconductor Corp.
Total revenues were $833.5 million, up 16.5 percent from $715.4 million in the third quarter of 2013. Fourth-quarter revenues are expected to be $835 million to $875 million.
Jackson said the acquisitions earlier this year of Truesense Imaging and Aptina Imaging position ON Semiconductor for gains in the industrial and automotive markets.
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