ON Semiconductor Reports Second Quarter 2015 Results

(1)The Company has retrospectively adjusted certain amounts shown above for the period ended December 31, 2014 related to adjustments to the purchase price allocation of our recent acquisitions.

 

ON SEMICONDUCTOR CORPORATION AND SUBSIDIARIES

UNAUDITED RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA* AND

NET CASH PROVIDED BY OPERATING ACTIVITIES

(in millions)

 
Quarter Ended   Six Months Ended
July 3, 2015   April 3, 2015  

July 27, 2014 (1)

July 3, 2015  

June 27, 2014 (1)

Net income $ 51.4 $ 55.8 $ 95.1 $ 107.2 $ 151.0
Adjusted for:
Restructuring, asset impairments and other, net 3.5 (2.3 ) 4.1 1.2 9.9
Goodwill and intangible asset impairment 3.7 3.7
Interest expense 10.7 9.2 7.9 19.9 16.0
Interest income (0.3 ) (0.3 ) (0.2 ) (0.6 ) (0.4 )
Loss on debt extinguishment 0.4 0.4
Gain on sale of available-for-sale securities (1.3 ) (3.4 ) (4.7 )
Income tax provision (benefit) 7.7 7.4 (16.2 ) 15.1 (10.0 )
Net income attributable to non-controlling interest (0.7 ) (0.7 ) (1.0 ) (1.4 ) (1.2 )
Depreciation and amortization 88.4 90.2 57.9 178.6 110.3
Expensing of appraised inventory at fair market value 1.3 1.3
Third party acquisition related costs     3.7     4.0  
Adjusted EBITDA* 163.5 155.9 152.6 319.4 280.9
Increase (decrease):
Restructuring, asset impairments and other, net (3.5 ) 2.3 (4.1 ) (1.2 ) (9.9 )
Interest expense (10.7 ) (9.2 ) (7.9 ) (19.9 ) (16.0 )
Interest income 0.3 0.3 0.2 0.6 0.4
Gain on sale of available-for-sale securities 1.3 3.4 4.7
Income tax provision (7.7 ) (7.4 ) 16.2 (15.1 ) 10.0
Net income attributable to non-controlling interest 0.7 0.7 1.0 1.4 1.2
Expensing of appraised inventory at fair market value (1.3 ) (1.3 )
Third party acquisition related costs (3.7 ) (4.0 )
Gain on sale or disposal of fixed assets (0.5 ) (4.0 ) (4.5 ) (0.3 )
Amortization of debt issuance costs 0.6 0.3 0.4 0.9 0.7
Write-down of excess inventories 10.5 17.7 4.7 28.2 11.5
Non-cash asset impairment charges 0.2 1.8 0.2 1.8
Non-cash share-based compensation expense 14.1 11.3 13.4 25.4 21.9
Non-cash interest 3.0 1.8 1.7 4.8 3.3
Change in deferred taxes (0.4 ) (21.5 ) (0.4 ) (19.6 )
Other (2.1 ) (3.0 ) (0.1 ) (5.1 ) (0.1 )
Changes in operating assets and liabilities (68.1 ) (86.2 ) (1.8 ) (154.3 ) (54.0 )
Net cash provided by operating activities $ 101.6   $ 83.5   $ 151.6   $ 185.1   $ 226.5  

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »



Review Article Be the first to review this article
Featured Video
Jobs
SOC Logic Design Engineer for Global Foundaries at Santa Clara, CA
Technical Marketing Manager Valley for EDA Careers at San Jose, CA
Development Engineer-WEB SKILLS +++ for EDA Careers at North Valley, CA
Sr. Staff Design SSD ASIC Engineer for Toshiba America Electronic Components. Inc. at San Jose, CA
Technical Support Engineer for EDA Careers at Freemont, CA
FAE FIELD APPLICATIONS SAN DIEGO for EDA Careers at San Diego, CA
Upcoming Events
FPGA 2017 at 350 Calle Pincipal, Marriott Hotel Monterey CA - Feb 22 - 24, 2017
DVCon 2017 Conference at DoubleTree Hotel San Jose CA - Feb 27 - 2, 2017
IoT Summit 2017 at Great America ballroom, Santa Clara Convention Center Santa Clara CA - Mar 16 - 17, 2017
SNUG Silicon Valley 2017 at Santa Clara Convention Center Santa Clara CA - Mar 22 - 23, 2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy