ON Semiconductor (ON) FY2011 results: revenue $3.4 billion, up 48.8% on the year
ON Semiconductor Corp. (ON) reported revenue of $3.4 billion for fiscal 2011, the year ended 31 December 2011, up 48.8% on the year before. Net income was $12 million, down 96.0%, and diluted earnings per share $0.03. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$3.4 billion
+48.8% on the year
FY2008FY2011
Operating margin
3.3%
16.2% a year earlier
FY2008FY2011
Net income
$12 million
-96.0% on the year
FY2008FY2011
Diluted EPS
$0.03
-95.4% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
3,442
2,313
1,769
+48.8%
Cost of revenue
2,434
1,357
1,148
+79.3%
Gross profit
1,009
956
621
+5.5%
Gross margin
29.3%
41.3%
35.1%
Research and development
362
248
199
+46.2%
Operating income
113
374
143
-69.7%
Operating margin
3.3%
16.2%
8.1%
Interest expense
68.9
61.4
64.6
+12.2%
Pre-tax income
37.8
306
71.0
-87.6%
Income tax
22.9
12.8
7.7
+78.9%
Effective tax rate
60.6%
4.2%
10.8%
Net income
11.6
290
61.0
-96.0%
Net margin
0.3%
12.6%
3.4%
Diluted EPS
$0.03
$0.65
$0.14
-95.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
546
552
279
-1.1%
Capital expenditure
316
189
55.3
+67.5%
Free cash flow
229
363
224
-36.9%
Free cash flow margin
6.7%
15.7%
12.7%
Cash from investing
-424
-336
-126
Cash from financing
-97.2
-119
-86.2
Depreciation and amortisation
229
167
156
+37.4%
Share-based compensation
33.5
52.5
54.2
-36.2%
Buybacks
0.0
0.0
8.6
Diluted shares, weighted
457m
444m
432m
+2.9%
Shares outstanding at period end
451m
437m
427m
+3.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
1,468
1,366
985
+7.5%
Non-controlling interest
25.3
22.0
19.6
+15.0%
Debt
1,207
889
934
+35.8%
Other liabilities
1,183
642
476
+84.2%
Total liabilities and equity
3,884
2,919
2,414
+33.0%
Fixed assets
1,110
864
706
+28.4%
Goodwill
199
191
175
+3.9%
Intangible assets
337
303
299
+11.3%
Investments
249
0.0
45.5
Cash and equivalents
653
623
526
+4.7%
Receivables
457
295
261
+55.2%
Inventory
637
361
270
+76.7%
Other assets
242
282
133
-14.2%
Total assets
3,884
2,919
2,414
+33.0%
10-K for the year ended 31 December 2011, filed 26 February 2013: the filing.