Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Automotive Market Drives Record 4Q 2020 ON Semiconductor Results - Ink World Magazine

What are you searching for?

Sign in
Flexible Electronics News

Automotive Market Drives Record 4Q 2020 ON Semiconductor Results

Annual 2020 free cash flow increased to $500.7 million from $160.1 million in 2019

Author Image

By: DAVID SAVASTANO

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

ON Semiconductor announced that the company has had a good fourth quarter and full year 2020 financially, with fourth quarter revenue of $1,446.3 million up 3% year-over-year. The company reported record automotive revenue of $491 million in the fourth quarter.

Fourth quarter GAAP diluted earnings per share of $0.21 rose significantly compared to $0.14 in fourth quarter 2019. Annual 2020 operating cash flow increased to $884.3 million from $694.7 million in 2019 on 5% lower revenue. Annual 2020 free cash flow increased to $500.7 million from $160.1 million in 2019

“In the fourth quarter, we saw strong improvement in business trends driven by broad-based improvement in global macroeconomic environment, lean inventories, and a steep recovery in the automotive end-market, in which we continue to see our content growth exceed the overall automotive market growth. Based on current demand trends and the global macroeconomic outlook, we expect to continue to see above seasonal demand trends in the near term,” said Hassane El-Khoury, president and CEO of ON Semiconductor.

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters