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ON Semiconductor Q1 revenue down approximately 8 percent

Christian Fernsby ▼ | May 10, 2020
ON Semiconductor Corporation announced that 2020 first quarter revenue was $1,277.9 million, down approximately 8 percent compared to 2019 first quarter revenue. 2020 first quarter revenue was down approximately 9 percent as compared to 2019 fourth quarter revenue.
ON Semiconductor
ON Semiconductor   2020 first quarter revenue was $1,277.9 million
Based on product booking trends, backlog levels, and estimated turns levels, the Company anticipates 2020 second quarter revenue to be approximately $1,100 million to $1,260 million.

Topics: ON Semiconductor

GAAP and Non GAAP gross margin for second quarter of 2020 is expected to be between 29 percent and 31 percent.

The 2020 second quarter outlook also includes anticipated stock-based compensation expense of approximately $19 million to $21 million. Net cash paid for income taxes is expected to be $10 million to $13 million.

"We are optimistic that the global community should be able to overcome current crisis. Our customers are placing orders in expectation of recovery in the second half of current year, and we are well positioned to show accelerated progress towards our target financial model as global macroeconomic environment recovers," said Keith Jackson, President and CEO of ON Semiconductor.