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ON Semiconductor Reports 1Q 2018 Results

Records revenue of $1,377.6 million and gross margin of 37.6%.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

ON Semiconductor Corporation announced that total revenue in the first quarter of 2018 was $1,377.6 million, down approximately 4% compared to GAAP revenue in the first quarter of last year. 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.
 
“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,” he added.

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