MIRA INFORM REPORT

 

 

Report Date :

11.10.2013

 

IDENTIFICATION DETAILS

 

Name :

ON SEMICONDUCTOR CORP

 

 

Registered Office :

5005 East McDowell Road, Phoenix, AZ 85008

 

 

Country :

United States

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

22.06.2000

 

 

Legal Form :

Public Parent

 

 

Line of Business :

Designs, manufactures and markets a portfolio of semiconductor components that address the design needs of electronic systems and products.

 

 

No. of Employees :

20,000

 

RATING & COMMENTS

 

MIRAs Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

Litigation :

Clear

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

United States

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 

united states - ECONOMIC OVERVIEW

 

The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012 the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that will extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. In December 2012, the Federal Reserve Board announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment drops to 6.5% from the December rate of 7.8%, or until inflation rises above 2.5%. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits - including significant budget shortages for state governments.

 

Source : CIA

 


company name and address

 

ON SEMICONDUCTOR CORP

 

5005 East McDowell Road

Phoenix, AZ 85008

United States

 

 

 

Tel:

602-244-6600

Fax:

302-655-5049

 

www.onsemi.com

 

Employees:

20,000

Company Type:

Public Parent

Corporate Family:

49 Companies

Traded:

NASDAQ:

ONNN

Incorporation Date:

22-Jun-2000

Auditor:

PricewaterhouseCoopers LLP

Financials in:

USD (In Millions )

Fiscal Year End:

31-Dec-2012

Reporting Currency:

US Dollar

Annual Sales:

2,894.9  1

Net Income:

(90.6)

Total Assets:

3,328.4  2

Market Value:

3,275.1

 

(27-Sep-2013)

 

 

Business Description  

 

 

ON Semiconductor Corporation (ON Semiconductor) designs, manufactures and markets a portfolio of semiconductor components that address the design needs of electronic systems and products. The Company operates in three segments: Application Products Group, Standard Products Group, and SANYO Semiconductor Products Group. The Company's power management semiconductor components control, convert, protect and monitor the supply of power to the different elements within a variety of electronic devices. The Company’s portfolio of power and signal management, logic, discrete and custom devices focuses customers in automotive, communications, computing, consumer, industrial, light emitting diode (LED) lighting, medical, military/aerospace, smart grid and power applications. The Company's data management semiconductor components provide clock management and data flow management for precision computing and communications systems. For the six months ended 28 June 2013, ON Semiconductor Corp revenues decreased 9% to $1.35B. Net income increased 100% to $70.3M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income reflects Standard Products Group segment income increase from $53.6M to $122.9M. Basic Earnings per Share excluding Extraordinary Items increased from $0.08 to $0.16.

 

 

Industry  

 

 

Industry

Semiconductor and Other Electronic Component Manufacturing

ANZSIC 2006:

2429 - Other Electronic Equipment Manufacturing

ISIC Rev 4:

2610 - Manufacture of electronic components and boards

NACE Rev 2:

2611 - Manufacture of electronic components

NAICS 2012:

334413 - Semiconductor and Related Device Manufacturing

UK SIC 2007:

2611 - Manufacture of electronic components

US SIC 1987:

3674 - Semiconductors and Related Devices

 

 

Key Executives  

 

(Emails Available)

Name

Title

Keith D. Jackson

President, Chief Executive Officer, Director

David Colvin

Chief Financial Officer

Paul Rolls

Executive Vice President, Worldwide Sales and Marketing

George H. Cave

Senior Vice President, General Counsel, Chief Compliance & Ethics Officer, Corporate Secretary

William M. Hall

Senior Vice President and General Manager - Standard Products Group

 

 

Significant Developments  

 

 

Topic

#*

Most Recent Headline

Date

Negative Earnings Pre-Announcement

1

ON Semiconductor Corp Issues Q3 2013 Revenue Guidance Below Analysts' Estimates

1-Aug-2013

Strategic Combinations

2

EADS NV's Airbus and ON Semiconductor Corp Launches Application Specific Integrated Circuit for A350 XWB Flight Control Computer

17-Jun-2013

General Products

1

ON Semiconductor Corp Launches Rhythm R3710 Pre-Configured DSP System for Invisible-in-Canal Hearing Aids

23-Oct-2012

Other Earnings Pre-Announcement

3

ON Semiconductor Corp Issues Q2 2013 Revenue Guidance In Line With Analysts' Estimates

2-May-2013

 

 

* number of significant developments within the last 12 months

 

 

News

 

Title

Date

Cypress's CapSense Express controllers used in world's first capacitive-touch-based PIN-pad
Cyber India Online (260 Words)

9-Oct-2013

ON Semiconductor To Eliminate, Voluntarily Retire Up To 910 Employees
RTTNews.com (351 Words)

8-Oct-2013

Touchscreen controller touts superb noise rejection
EE Times India (393 Words)

8-Oct-2013

PERICOM SEMICONDUCTOR : Edward Yang to Depart as Member of Board at Pericom
4 Traders (91 Words)

8-Oct-2013

Chipmaker On Semi to cut up to 870 jobs at Sanyo u
Yahoo! Singapore (167 Words)

8-Oct-2013

Chipmaker On Semiconductor to cut up to 870 jobs at
Yahoo! Singapore (170 Words)

8-Oct-2013

 

 

Financial Summary

 

As of 28-Jun-2013

 

Key Ratios

Company

Industry

Current Ratio (MRQ)

1.85

3.90

Quick Ratio (MRQ)

1.21

3.02

Debt to Equity (MRQ)

0.64

0.21

Sales 5 Year Growth

13.07

11.04

Net Profit Margin (TTM) %

-1.87

19.30

Return on Assets (TTM) %

-1.47

15.21

Return on Equity (TTM) %

-3.75

21.72

 

 

 

Stock Snapshot

 

Traded: NASDAQ: ONNN

 

As of 27-Sep-2013

   Financials in: USD

Recent Price

7.28

 

EPS

0.12

52 Week High

8.73

 

Price/Sales

1.13

52 Week Low

5.70

 

Price/Book

2.40

Avg. Volume (mil)

4.66

 

Beta

1.64

Market Value (mil)

3,275.05

 

 

 

 

Price % Change

Rel S&P 500%

4 Week

0.55%

-2.94%

13 Week

-9.90%

-14.45%

52 Week

17.61%

0.61%

Year to Date

3.26%

-12.95%

 

 

ABI Number: 532499647

 

1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1

 

 

Corporate Overview

 

Location
5005 East McDowell Road
Phoenix, AZ, 85008
Maricopa County
United States

 

Tel:

602-244-6600

Fax:

302-655-5049

 

www.onsemi.com

Quote Symbol - Exchange

ONNN - NASDAQ

Sales USD(mil):

2,894.9

Assets USD(mil):

3,328.4

Employees:

20,000

Fiscal Year End:

31-Dec-2012

 

Industry:

Semiconductors

Incorporation Date:

22-Jun-2000

Company Type:

Public Parent

Quoted Status:

Quoted

 

President, Chief Executive Officer, Director:

Keith D. Jackson

 

 

Industry Codes

 

ANZSIC 2006 Codes:

2429

-

Other Electronic Equipment Manufacturing

3494

-

Other Electrical and Electronic Goods Wholesaling

2439

-

Other Electrical Equipment Manufacturing

 

ISIC Rev 4 Codes:

2610

-

Manufacture of electronic components and boards

4652

-

Wholesale of electronic and telecommunications equipment and parts

2790

-

Manufacture of other electrical equipment

 

NACE Rev 2 Codes:

2611

-

Manufacture of electronic components

2790

-

Manufacture of other electrical equipment

4652

-

Wholesale of electronic and telecommunications equipment and parts

 

NAICS 2012 Codes:

334413

-

Semiconductor and Related Device Manufacturing

334419

-

Other Electronic Component Manufacturing

423690

-

Other Electronic Parts and Equipment Merchant Wholesalers

335999

-

All Other Miscellaneous Electrical Equipment and Component Manufacturing

 

US SIC 1987:

3674

-

Semiconductors and Related Devices

3629

-

Electrical Industrial Apparatus, Not Elsewhere Classified

5065

-

Electronic Parts and Equipment, Not Elsewhere Classified

3679

-

Electronic Components, Not Elsewhere Classified

 

UK SIC 2007:

2611

-

Manufacture of electronic components

2790

-

Manufacture of other electrical equipment

4652

-

Wholesale of electronic and telecommunications equipment and parts

 

 

Business Description

 

ON Semiconductor Corporation (ON Semiconductor), incorporated on June 22, 2000, designs, manufactures and markets a portfolio of semiconductor components that address the design needs of electronic systems and products. The Company operates in three segments: Application Products Group, Standard Products Group, and SANYO Semiconductor Products Group. The Company's power management semiconductor components control, convert, protect and monitor the supply of power to the different elements within a variety of electronic devices. The Company’s portfolio of power and signal management, logic, discrete and custom devices focuses customers in automotive, communications, computing, consumer, industrial, light emitting diode (LED) lighting, medical, military/aerospace, smart grid and power applications. The Company's data management semiconductor components provide clock management and data flow management for precision computing and communications systems.


The Company serves a range of end-user markets, including automotive, communications, computing, consumer, medical, industrial, smart grid and military/aerospace. Applications for the Company's products in these markets include portable electronics, computers, game consoles, servers, automotive and industrial control systems, LED lighting, power supplies, networking and telecom gear and automated test equipment. Its standard semiconductor components serve as building block components within virtually types of electronic devices. The Company's portfolio of devices enables the Company to offer integrated circuits (ICs) and the building block components that deliver system level functionality and design solutions. During the year ended December 31, 2012, the Company's product portfolio consisted of approximately 44,000 products and the Company shipped approximately 37.1 billion units in 2012. The Company is engaged in micro packages.


As of December 31, 2012, the Company has approximately 450 direct customers worldwide. The Company also service approximately 530 original equipment manufacturers (OEMs) indirectly through its distributor and electronic manufacturing service provider customers. The Company's direct and indirect customers include: (OEMs in a range of industries, such as Continental Automotive Systems, Samsung Electric, Panasonic, Delta, and Hella; (electronic manufacturing service providers, such as Flextronics, Jabil, Sanmina, Benchmark Electronic and HK Towada Electronics, and global distributors, such as Avnet, World Peace, OS Electronics, Arrow and WT Microelectronics. As of December 31, 2012, the Company had domestic design operations in Arizona, California, Colorado, Idaho, Montana, Oregon, Pennsylvania, Rhode Island, Texas and Utah. In addition, as of December 31, 2012, the Company operated domestic manufacturing facilities in California, Idaho and Oregon and have foreign manufacturing facilities in Belgium, Canada, China, Czech Republic, Japan, Malaysia, Philippines, Thailand and Vietnam.


The Company operates front-end wafer site facilities located in Belgium, Canada, Czech Republic, Japan, Malaysia, and the United States, and back-end assembly and test site facilities located in Canada, China, Japan, Malaysia, Philippines, Thailand, and Vietnam. In addition to these front-end and back-end manufacturing operations, the Company's facility in Roznov, Czech Republic manufactures silicon wafers that are used by a number of its facilities. The Company operates all of its manufacturing facilities directly, except in the case of its joint venture in Leshan, China. The Company operates an assembly and test operations facility in Leshan, China. This facility is owned by a joint venture company, Leshan-Phoenix Semiconductor Company Limited (Leshan), of which the Company owns a majority of the interests. As part of the Company's manufacturing agreements with Leshan, the Company supply dies used in the production process. The Company uses third-party contractors for some of its manufacturing activities, primarily for wafer fabrication and the assembly and testing of finished goods.

Application Products Group


The Application Products Group designs and develops analog, mixed-signal and advanced logic application specific integrated circuits (ASIC) and application specific standard products (ASSP) solutions for the automotive, medical, military/aerospace, computing, wireless communications, consumer and industrial markets. The Application Products Group's automotive products are focused on energy efficient solutions. The Company's ASIC and ASSP portfolio includes semiconductor solutions for medical devices, such as defibrillators, pacemakers, neurostimulators, hearing aids, glucose meters and patient monitors. It also includes mixed-signal offerings for industrial, medical imaging, smart grid and building automation, as well as clock and timing management products for industrial, communications, and consumer applications.


The Company serves the portable audio and wireless smartphone markets with digital signal processing (DSP) technology and tunable capacitor products that originated from ASIC and ASSP product development for medical applications. The Company is a supplier of two dimensional (2D) and complementary metal oxide semiconductor (CMOS) images sensors for machine vision, space, and cinematography applications. The Company's military/aerospace products include standard-cell ASIC technologies down to 40 nanometer, using both internal and external foundries. The Company develops power conversion products (Alternating Current (AC) Direct Current (DC) and DC-DC) and power interfaces products. The Company offers solutions for a range of voltage and current options from multi-phase 30 volt power for VCORE processors to single cell battery point of load, battery charging, thermal monitoring and management, system monitoring and the connectivity and protection around them.


The Company competes with STMicroelectronics N.V., Texas Instruments Incorporated, Elmos Semiconductor and ZMD AG, Cypress Semiconductor, Integrated Device Technology, Inc., Xilinx, Inc., Altera Corporation, Open-Silicon, Inc., e-Silicon Corporation, X-FAB Semiconductor Foundries AG, Taiwan Semiconductor Manufacturing Company, Ltd., Tower Semiconductor Ltd., MagnaChip Semiconductor LLC, Microchip Technology, Inc., Maxim Integrated Products, Inc., Analog Devices, Inc., Linear Technology Corporation, Intersil Corporation, Maxim Integrated Products, Inc., Texas Instruments Incorporated, STMicroelectronics N.V. and Power Integrations, Inc.

Standard Products Group


The Standard Products Group serves a range of end-user markets, including consumer electronics, computing, wireless and wired communications, automotive electronics, industrial electronics and medical via six major discrete semiconductor technology categories: diodes and transistors, analog products, LED drivers, electrically erasable programmable read-only memory (EEPROMs), power metal oxide semiconductor field effect transistor (MOSFETs) and Standard Logic. The range of discrete and integrated semiconductor products that the Company offers within these categories perform multiple application functions, including power switching, signal conditioning, circuit protection, signal amplification and voltage reference functions.


The Company competes with Diodes Incorporated, NXP B.V., Rohm Co., Ltd., TSPS Corporation, Infineon Technologies AG, Vishay Intertechnology, Inc., Fairchild Semiconductor International, Inc., STMicroelectronics N.V. and Semtech Corporation.


SANYO Semiconductor Products Group


The Company's SANYO Semiconductor Products Group is a global supplier of analog and mixed signal ICs, microcontrollers, DSPs, analog and digital tuners, intelligent power modules, memory and discrete semiconductors to the automotive, communications, consumer and industrial end-markets. The Company's diverse product portfolio includes analog power management ICs; motor drive ICs; intelligent modules for power inversion, motor control, and automotive electronics; eight bit and 16 bit microcontrollers; audio and video tuners; DSPs and image enhancement products supporting a range of applications, including automotive infotainment and motor control systems, consumer white goods, wireless communications devices (including smartphones and media tablets), liquid crystal display (LCD) televisions, and digital still cameras and camcorders. The Company possesses micro-packaging capabilities. For home appliance and industrial power applications, the Company possesses power assembly packaging and composite material IP.


The Company competes with Toshiba Corporation, Renasas Electronics Corporation, NXP B.V., Rohm Co. Ltd., Mitsubishi Electric, Sanken Electric, STMicroelectronics N.V., Fairchild Semiconductor International, Inc., International Rectifier Corporation and Texas Instruments Incorporated

 

 

More Business Descriptions

ON Semiconductor Corporation (ON Semiconductor) designs, manufactures and markets a portfolio of semiconductor components that address the design needs of electronic systems and products. The Company operates in three segments: Application Products Group, Standard Products Group, and SANYO Semiconductor Products Group. The Company's power management semiconductor components control, convert, protect and monitor the supply of power to the different elements within a variety of electronic devices. The Company’s portfolio of power and signal management, logic, discrete and custom devices focuses customers in automotive, communications, computing, consumer, industrial, light emitting diode (LED) lighting, medical, military/aerospace, smart grid and power applications. The Company's data management semiconductor components provide clock management and data flow management for precision computing and communications systems. For the six months ended 28 June 2013, ON Semiconductor Corp revenues decreased 9% to $1.35B. Net income increased 100% to $70.3M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income reflects Standard Products Group segment income increase from $53.6M to $122.9M. Basic Earnings per Share excluding Extraordinary Items increased from $0.08 to $0.16.

Analog, Logic & Discrete Semiconductor Mfr

Establishments primarily engaged in manufacturing semiconductors and related solid- state devices. Important products of this industry are semiconductor diodes and stacks, including rectifiers, integrated microcircuits (semiconductor networks), transistors, solar cells, and light sensing and emitting semi-conductor (solid-state) devices.

ON Semiconductor Corporation (ON Semiconductor) is a semiconductor component manufacturer. The company designs, manufactures and markets semiconductor components for electronic systems and products worldwide. Its semiconductor components are used in data and power management electronic systems to protect, control, convert and monitor power supply. The semiconductor usage in data management equipment provides clock management and data flow management for precision computing and communications systems. ON Semiconductor’s standard semiconductor components are used in electronic products in the analogue, logic and discrete categories. In 2012, its product portfolio includes more than 44,000 products it shipped approximately 37.1 billion units. The company operates its business through three reportable segments, namely, Application Products Group, Standard Products Group and SANYO Semiconductor Products Group. Its Application Products Group segment manufactures analog automotive products, DC-DC conversion products, analog switches, AC-DC conversion products, low voltage power management products, power switching, tunable capacitors, automotive power switching products, automotive mixed-signal solutions, medical ASICs & ASSPs, linear light sensors, CMOS image sensor, and military and aerospace products. The segment also provides foundry and manufacturing services, which consist of IPD technology. For the fiscal year ended December 2012, the company’s Application Products Group segment reported revenue of USD 1,019.2m, reflecting a decrease of 11.03% over the revenue in 2011. The segment accounted for 35.20% of the company’s total revenue in 2012. ON Semiconductor, through its Standard Products Group segment manufactures bipolar power products, thyristors, small signal products, Zener products, protection products, rectifiers, filters, LDO’s and VREGs, and memory products. The segment serves a wide range end-user markets such as consumer electronics, computing, wireless and wired communications, automotive electronics, industrial electronics and medical. For the fiscal year ended December 2012, the company’s Standard Products Group segment reported revenue of USD 1,104.7m, reflecting a decrease of 10.66% over the revenue in 2011. The segment accounted for 38.20% of the company’s total revenue in 2012. The company’s SANYO Semiconductor Products Group segment manufactures power MOSFETs, IGBTs, power and signal discretes, intelligent power modules, motor driver ICs, display drivers, ASICs, microcontrollers, flash memory products, touch sensor, power supply IC, audio DSPa and audio tuners. For the fiscal year ended December 2012, the company’s SANYO Semiconductor Products Group segment reported revenue of USD 771m, reflecting a decrease of 27.28% over the revenue in 2011. The segment accounted for 26.60% of the company’s total revenue in 2012. It serves various industries such as automotive, communications, computing, consumer, medical, industrial, smart grid and military/aerospace. The company’s products find applications in portable electronics, computers, game consoles, servers, automotive and industrial control systems, LED lighting, power supplies, networking and telecom gear and automated test equipment. ON Semiconductor has design centre’s located in the US, Belgium, Czech Republic, France, Germany, Ireland, Romania, Slovak Republic, Switzerland, China, India, Japan, Korea, Philippines and Taiwan. It has manufacturing facilities located in Canada, the US, Belgium, Czech Republic, China, Japan, Malaysia, Philippines, Thailand and Vietnam. The company operates through its subsidiaries such as AMI Acquisition, LLC, SCG (China) Holding Corporation, Leshan-Phoenix Semiconductor Company Limited, SCG (Czech) Holding Corporation, AMI Semiconductor Canada Company, ON Semiconductor Technology Korea Limited, Semiconductor Components Industries of Rhode Island, Inc., Sound Design Technologies Ltd., ON Semiconductor Holland B.V., SCG Malaysia Holdings Sdn. Bhd., SCG Czech Design Center s.r.o., AMI Semiconductor GmbH, ON Semiconductor SAS and ON Electronics Private Limited, among others. It also has a research and development (R&D) facilities. In 2012, ON Semiconductor has spent USD 367.5m on research and development activities, which accounted for 12.7% of the company’s total revenue in 2012. Geographically, the company operates through four regions, namely, Americas, Japan, Other Asia/Pacific and Europe. For the fiscal year ended December 2012, the Americas region accounted for 16.13% of the company’s total revenue, followed by Japan with 13.85%, Other Asia/Pacific with 56.57% and Europe with 13.43%. In March 2013, ON Semiconductor has introduced a new family of Tunable RF Components (TRFC) that address the design challenges faced by engineers developing the latest generation smartphones.

ON Semiconductor Corporation (ON Semiconductor) is a semiconductor manufacturing company. The company operates in segments such as application products group, standard products group, and SANYO semiconductor products group. Its portfolio of power and signal management, logic, discrete and custom devices helps customers solve their design challenges in automotive, communications, computing, consumer, industrial, light emitting diode (LED) lighting, medical, military/aerospace, smart grid and power applications. ON Semiconductor’s products are mainly procured for integrating in power management equipment, data management equipment, and standard semiconductor components. The company’s services approximate 530 OEMs through their distributor and electronic manufacturing service provider customers. It also provides service to electronic manufacturing service providers, and global distributors. It has its manufacturing and distribution facilities across the US, Europe and Asia-Pacific along with their laboratories in Czech Republic, China and the US. ON Semiconductor is headquartered in Phoenix, Arizona, the US.The company reported revenues of (U.S. Dollars) USD 2,894.90 million during the fiscal year ended December 2012, a decrease of 15.90% from 2011. The operating loss of the company was USD 24.10 million during the fiscal year 2012, as against an operating income of USD 90.20 million during 2011. The net loss of the company was USD 90.60 million during the fiscal year 2012, as against a net profit of USD 11.60 million during 2011.

We are a supplier of high performance silicon solutions for energy efficient electronics. Our broad portfolio of power and signal management logic discrete and custom devices helps customers efficiently solve their design challenges in automotive communications computing consumer industrial LED lighting medical military/aerospace smart grid and power applications. We design manufacture and market an extensive portfolio of semiconductor components that address the design needs of sophisticated electronic systems and products. Our power management semiconductor components control convert protect and monitor the supply of power to the different elements within a wide variety of electronic devices. Our custom application specific integrated circuits (ASICs) use analog digital signal processing mixed-signal and advanced logic capabilities to act as the brain behind many of our automotive medical military-aerospace consumer and industrial customers unique products. Our data management semiconductor components provide high-performance clock management and data flow management for precision computing and communications systems. Our standard semiconductor components serve as building block components within virtually all types of electronic devices. These various products fall into the logic analog discrete image sensors and memory categories used by the WSTS group. We serve a broad base of end-user markets including automotive communications computing consumer medical industrial smart grid and military/aerospace. Applications for our products in these markets include portable electronics computers game consoles servers automotive and industrial control systems LED lighting power supplies networking and telecommunications gear and automated test equipment.

ON Semiconductor, headquartered in Phoenix, provides semiconductor equipment and parts, and design and technical support services. The company offers a variety of equipment, including direct and alternating current switching and battery management equipment, drivers, linear voltage regulators, audio and transconductance amplifiers, and dual, quad and single comparators. Its other products include audio and multimedia switches, thyristors, tuning and small-signal switching diodes, high-current and transient voltage suppressors, rectifiers, bipolar transistors, and telecommunication line protection equipment. ON Semiconductor also provides equipment, such as clock distribution, generation and synthesis equipment, skew management equipment, buffers, coax drivers, counters, gates, and inverters and latches. The company's additional products include load and relay drivers, modulators and demodulators, motor control and data transmission equipment, and timers.

 

 

Product Codes

 

Product Code

Product Description

SUB-SE-CCI

Surface barrier transistors

SUB-SE-D

Diodes

SUB-SE-I3

Controller ICs

SUB-SE-I8

Communications ICs

SUB-SE-R

Rectifiers

SUB-SE-TD

Darlington transistors

SUB-SE-TF

Field effect transistors

SUB-SE-TH

High frequency transistors

SUB-SE-TM

Microwave transistors

SUB-SE-TP

Power transistors

SUB-SE-TS

Switching transistors

SUB-SE-TU

Unijunction transistors

SUB-SE-TV

High voltage transistors

 

 

Financial Data

 

Financials in:

USD(mil)

 

Revenue:

2,894.9

Net Income:

-90.6

Assets:

3,328.4

Long Term Debt:

658.3

 

Total Liabilities:

1,967.3

 

Working Capital:

0.2

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

-15.9%

NA

-14.3%

 

 

Market Data

 

Quote Symbol:

ONNN

Exchange:

NASDAQ

Currency:

USD

Stock Price:

7.3

Stock Price Date:

09-27-2013

52 Week Price Change %:

17.6

Market Value (mil):

3,275,053.0

 

SEDOL:

2583576

ISIN:

US6821891057

 

Equity and Dept Distribution:

Common Stock $.01 Par, 03/11, 750M auth., 494,262,714 issd., less 49,825,299 shs. in Treas. @ $382M. Insiders own 0.92%. PO 4/28/00, 30Mshs. @ $16 by Morgan Stanley Dean Witter. 8/00, Name changed from SCG Holding Corporation. 3/08, Co. acq. AMIS Holdings, Inc. @ 1.15 shares(2,926,157 shares issd.)

 

 

Key Corporate Relationships

 

Auditor:

PricewaterhouseCoopers LLP

 

Auditor:

PricewaterhouseCoopers LLP

 

 

Additional information

 

ABI Number:

532499647

Fortune 1000 Rank:

732

 

 

 

 

Location

5005 E Mcdowell Rd
Phoenix, AZ 85008-4229
United States

 

County:

Maricopa

MSA:

Phoenix-Mesa, AZ

 

Phone:

602-244-6600

Fax:

602-244-6071

ABI:

532499647

 

Annual Sales:

$2,894,900,000 (USD)

Employees:

20,000

 

Facility Size(ft2):

40,000+

 

Business Type:

Public

Location Type:

Headquarter

 

Ticker:

ONNN

Exchange:

NASDAQ

Primary Line of Business:

SIC:

3674-01 - Semiconductor Devices (Mfrs)

NAICS:

334413 - Semiconductors & Related Devices Mfg

Secondary Lines of Business:

SICs:

5063-49 - Semiconductor-Mfrs' Equip/Supls (Whls)

 

5099-05 - Importers (Whls)

 

8742-13 - Marketing Programs & Services

 

9999-66 - Federal Government Contractors

NAICS:

423610 - Electric Equip & Wiring Merchant Whols

 

423990 - All Other Durable Goods Merchant Whols

 

541613 - Marketing Consulting Svcs

 

 

Years in InfoUSA Database:

10+

 

Corporate Family

 

Corporate Structure News:

 

Total Corporate Family Members: 49

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

ON Semiconductor Corp

Parent

Phoenix, AZ

United States

Semiconductor and Other Electronic Component Manufacturing

2,894.9

20,000

SCG Industries Malaysia Sdn Bhd

Subsidiary

Seremban, Negeri Sembilan

Malaysia

Semiconductor and Other Electronic Component Manufacturing

197.7

2,800

SCG International Development, LLC

Subsidiary

Phoenix, AZ

United States

Semiconductor and Other Electronic Component Manufacturing

982.2

2,000

Leshan-Phoenix Semiconductor Co., Ltd.

Subsidiary

Leshan

China

Semiconductor and Other Electronic Component Manufacturing

 

2,000

SANYO Semiconductor Co Ltd

Subsidiary

Oizumi, Gunma Pref

Japan

Semiconductor and Other Electronic Component Manufacturing

1,106.6

1,200

Sanyo Semiconductor (H.K.) Co., Ltd.

Subsidiary

Kowloon

Hong Kong

Electronics Wholesale

 

130

Sanyo Semiconductor Corporation

Subsidiary

Saddle Brook, NJ

United States

Electronics Wholesale

 

30

Sanyo Semiconductor (S) Pte. Ltd.

Subsidiary

Singapore

Singapore

Electronics Wholesale

128.3

23

Sanyo Semiconductor Manufacturing Philippines Corporation

Subsidiary

Tarlac City

Philippines

Semiconductor and Other Electronic Component Manufacturing

164.3

 

Sanyo Semiconductor (Thailand) Co Ltd

Subsidiary

Ayutthaya

Thailand

Semiconductor and Other Electronic Component Manufacturing

 

 

Sanyo Semiconductor Taipei Co., Ltd.

Subsidiary

Taipei

Taiwan

Electronics Wholesale

 

 

Kanto SANYO Semiconductor Co., Ltd.

Subsidiary

Hanyu

Japan

Semiconductor and Other Electronic Component Manufacturing

 

 

SANYO Semiconductor Manufacturing Co., Ltd.

Subsidiary

Gunma

Japan

Semiconductor and Other Electronic Component Manufacturing

 

 

vClassic Semiconductor Company Limited

Subsidiary

Pasig

Philippines

Semiconductor and Other Electronic Component Manufacturing

 

1,200

Ami Semiconductor, Inc.

Subsidiary

Pocatello, ID

United States

Semiconductor and Other Electronic Component Manufacturing

313.2

1,100

On Semiconductor Philippines, Inc.

Subsidiary

Carmona, Cavite

Philippines

Semiconductor and Other Electronic Component Manufacturing

 

2,500

ON Semiconductor Corp

Branch

Santa Clara, CA

United States

Electronics Wholesale

66.4

1,100

ON SEMICONDUCTOR CZECH REPUBLIC, s.r.o., právní nástupce

Subsidiary

Roznov pod Radhoštem

Czech Republic

Semiconductor and Other Electronic Component Manufacturing

97.7

1,066

ON Semiconductor Slovakia a.s.

Subsidiary

Piestany

Slovakia

Semiconductor and Other Electronic Component Manufacturing

 

230

ON Semiconductor Hong Kong Design Ltd.

Subsidiary

Sha Tin, Hong Kong

Hong Kong

Semiconductor and Other Electronic Component Manufacturing

 

180

California Micro Devices Corporation

Subsidiary

Santa Clara, CA

United States

Semiconductor and Other Electronic Component Manufacturing

 

103

ON Semiconductor

Subsidiary

East Greenwich, RI

United States

Semiconductor and Other Electronic Component Manufacturing

32.8

100

SCG Czech Design Center s.r.o.

Subsidiary

Roznov pod Radhostem

Czech Republic

Semiconductor and Other Electronic Component Manufacturing

 

100

Semiconductor Components Industries of Rhode Island, Inc.

Subsidiary

East Greenwich, RI

United States

Semiconductor and Other Electronic Component Manufacturing

 

100

ON Design Czech s.r.o.

Subsidiary

Brno

Czech Republic

Miscellaneous Professional Services

 

100

ON Semiconductor Corp

Branch

Austin, TX

United States

Semiconductor and Other Electronic Component Manufacturing

61.1

63

ON Semiconductor Corp

Branch

Longmont, CO

United States

Semiconductor and Other Electronic Component Manufacturing

30.9

63

Semiconductor Components Industry

Subsidiary

Phoenix, AZ

United States

Semiconductor and Other Electronic Component Manufacturing

 

63

SCG Malaysia Holdings Sdn Bhd

Subsidiary

Seremban, Negeri Sembilan

Malaysia

Semiconductor and Other Electronic Component Manufacturing

197.7

 

SCG Hong Kong SAR Ltd.

Subsidiary

Sha Tin

Hong Kong

Semiconductor and Other Electronic Component Manufacturing

 

60

On Semiconductor Image Sensor

Subsidiary

Mechelen

Belgium

Semiconductor and Other Electronic Component Manufacturing

16.9

47

ON Semiconductor Germany GmbH

Subsidiary

München, Bayern

Germany

Semiconductor and Other Electronic Component Manufacturing

7.2

30

Semiconductor Components Industries Singapore Pte Ltd

Subsidiary

Singapore

Singapore

Semiconductor and Other Electronic Component Manufacturing

642.8

26

ON Semiconductor Corp

Branch

Lower Gwynedd, PA

United States

Semiconductor and Other Electronic Component Manufacturing

13.2

25

ON Semiconductor Technology Japan Ltd.

Subsidiary

Tokyo

Japan

Semiconductor and Other Electronic Component Manufacturing

 

25

ON Semiconductor France SAS

Subsidiary

Paris

France

Electronics Wholesale

 

25

ON Semiconductor Switzerland S.A.

Subsidiary

Marin-Epagnier

Switzerland

Semiconductor and Other Electronic Component Manufacturing

 

25

ON Semiconductor Corp

Branch

Twain Harte, CA

United States

Semiconductor and Other Electronic Component Manufacturing

4.0

8

ON Semiconductor Corp

Branch

Plano, TX

United States

Electronics Wholesale

10.4

4

ON Semiconductor Italy S.r.l

Subsidiary

Milan

Italy

Semiconductor and Other Electronic Component Manufacturing

 

4

ON Semiconductor Corp

Branch

Gresham, OR

United States

Semiconductor and Other Electronic Component Manufacturing

0.5

3

Semiconductor Components Industries, LLC

Subsidiary

Boca Raton, FL

United States

Electronics Wholesale

 

 

Sound Design Technologies Ltd.

Subsidiary

Burlington, ON

Canada

Semiconductor and Other Electronic Component Manufacturing

 

 

ON Semiconductor Technology India Private Limited

Subsidiary

Bengaluru, Karnataka

India

Semiconductor and Other Electronic Component Manufacturing

 

 

Amis Holdings Inc

Subsidiary

 

 

 

 

 

ON Semiconductor

Subsidiary

Pocatello, ID

United States

Semiconductor and Other Electronic Component Manufacturing

934.0

1,500

On Semiconductor Belgium

Subsidiary

Eine

Belgium

Semiconductor and Other Electronic Component Manufacturing

138.3

718

On Semiconductor Leasing

Subsidiary

Eine

Belgium

Semiconductor and Other Electronic Component Manufacturing

3.0

 

Flextronics Semiconductor, Inc.

Subsidiary

San Jose, CA

United States

Semiconductor and Other Electronic Component Manufacturing

 

 

 

 

 

 

Competitors Report

 

CompanyName

Location

Employees

Ownership

Altera Corporation

San Jose, California, United States

3,129

Public

Analog Devices, Inc.

Norwood, Massachusetts, United States

9,200

Public

Cypress Semiconductor Corporation

San Jose, California, United States

3,600

Public

Diodes Incorporated

Plano, Texas, United States

4,605

Public

ELMOS Semiconductor AG

Dortmund, Germany

1,041

Public

Fairchild Semiconductor Intl Inc

San Jose, California, United States

9,077

Public

Freescale Semiconductor Ltd

Austin, Texas, United States

16,500

Public

Infineon Technologies AG

Neubiberg, Germany

26,210

Public

Integrated Device Technology Inc

San Jose, California, United States

1,748

Public

International Rectifier Corporation

El Segundo, California, United States

4,162

Public

Intersil Corp

Milpitas, California, United States

1,488

Public

Linear Technology Corporation

Milpitas, California, United States

4,306

Public

Magnachip Semiconductor Corp

Cheongju, Korea, Republic of

3,597

Public

Maxim Integrated Products Inc.

San Jose, California, United States

9,019

Public

Microchip Technology Inc.

Chandler, Arizona, United States

8,003

Public

Mitsubishi Electric Corporation

Chiyoda-Ku, Japan

120,958

Public

National Semiconductor Corporation

Santa Clara, California, United States

5,700

Public

NXP BV

Eindhoven, Netherlands

24,547

Private

Power Integrations Inc

San Jose, California, United States

526

Public

ROHM COMPANY LIMITED

Kyoto-Shi, Japan

20,203

Public

Sanken Electric Co., Ltd.

Niiza-Shi, Japan

10,427

Public

Semtech Corporation

Camarillo, California, United States

1,433

Public

STMicroelectronics N.V.

Geneve, Switzerland

48,000

Public

Taiwan Semiconductor Mfg. Co. Ltd.

Hsin-Chu, , Taiwan

39,267

Public

Texas Instruments Incorporated

Dallas, Texas, United States

34,151

Public

Toshiba Corp

Minato-Ku, Japan

206,087

Public

Tower Semiconductor Ltd.

Migdal Haemeq, Israel

1,195

Public

Vishay Intertechnology

Malvern, Pennsylvania, United States

21,600

Public

Xilinx, Inc.

San Jose, California, United States

3,329

Public

 

 

Executives Report

Board of Directors

 

Name

Title

Function

John Daniel McCranie

 

Independent Chairman of the Board

Chairman

Biography:

Mr. John Daniel McCranie is Independent Chairman of the Board of ON Semiconductor Corporation, since August 2002. He is Director since November 2001. Mr. McCranie served as Executive Chairman of Virage Logic, a provider of application optimized semiconductor intellectual property platforms, from October 2008 until it was purchased by Synopsys in September 2010. Previously, Mr. McCranie served as President and Chief Executive Officer of Virage Logic from January 2007 to October 2008, Executive Chairman of Virage Logic from March 2006 to January 2007, and Chairman of the Board of Directors of Virage Logic from August 2003 to March 2006. Prior to joining Virage Logic, from 1993 until his retirement in 2001, Mr. McCranie was employed in various positions with Cypress Semiconductor, a supplier of diversified, broadline semiconductor products, focusing on the communications industry, lastly as its Executive Vice President, Marketing and Sales. From 1986 to 1993, Mr. McCranie was President, Chief Executive Officer and Chairman of SEEQ Technology, Inc., a manufacturer of semiconductor devices. Mr. McCranie currently serves on the board of directors of Cypress Semiconductor and Mentor Graphics; and is the non-executive chairman of the board of directors of Freescale Semiconductor. Within the last five years, Mr. McCranie also served on the boards of directors of Virage Logic and Actel Corporation, a designer and provider of field programmable gate arrays and programmable system chips.

Age: 69

Education:

Virginia Polytechnic Institute and State University, BS (Electrical Engineering)

Robert H Smith

 

Chairman

Chairman

 

Biography:

Mr. Smith joined the board in August 2003 bringing to Virage Logic over forty years of experience in financial management with leading technology companies. From 1963 at the onset of his career at Honeywell Inc. Smith has held a number of executive positions in operations finance and administration with Memorex Corporation and Control Data Corporation. In 1982 Smith joined R. R. Donnelley & Sons Company (NYSE: DNY) a leading provider of financial printing and communications as executive vice president finance and chief financial officer. Smith went on to become president of Maxwell Graphics in 1986. In 1996 Smith joined Novellus Systems Inc. as executive vice president finance and administration and chief financial officer. Smith also served on the board of directors of Novellus until his retirement in 2002. Since 1990 Smith has been a member of the board of directors of Cirrus Logic Inc. (NASDAQ: CRUS) serves on the companys compensation committee and also serves as chairman of the audit committee. In 2003 Smith joined the board of directors of PLX Technology (NASDAQ: PLXT) a provider of high-speed connectivity equipment in the semiconductor industry and Epicor Software Corporation (NASDAQ: EPIC). In 2005 Smith joined the board of directors of On Semiconductor (NASDAQ: ONNN) a provider of power and data management semiconductors and standard semiconductor components where he serves on the Audit Committee and also as the Chairman of the Compensation Committee.

Education:

Oklahoma City University, BS (Business Administration)

Atsushi Abe

 

Director

Director/Board Member

 

Biography:

Mr. Atsushi Abe is Independent Director of ON Semiconductor Corporation since February 2011. From December 2009 to the present, Mr. Abe has served as the managing partner of Sangyo Sosei Advisory Inc., a technology, media and telecommunication industry focused mergers and acquisitions advisory firm. From August 2004 to March 2009, he served as a partner at Unitas Capital (formerly CCMP Capital Asia and JP Morgan Partners Asia) and was responsible for investments in Japan and in technology companies generally. From August 1998 until July 2004, Mr. Abe worked for Deutsche Bank Group in San Francisco and in Tokyo as a managing director and held leadership positions including head of Global Corporate Finance in Japan, head of Global Semiconductor Investment Banking and head of TMT Investment Banking in Asia. From December 1992 through July 1998, Mr. Abe worked as a managing director for Alex Brown & Sons, Inc. in San Francisco and Tokyo, which was subsequently acquired by Deutsche Bank Group. Prior to joining Alex Brown & Sons, Inc., Mr. Abe spent over 14 years at Mitsui & Co., Ltd. where he held various management positions in the Industrial Electronics Division and Principal Investment Unit. Mr. Abe has served on the board of Edwards Group Limited, an UK based vacuum technology company, from May 2007 through October 2009.

Age: 59

Education:

Stanford University, MBA
Waseda University, BS

Curtis J. Crawford

 

Independent Director

Director/Board Member

 

Biography:

Dr. Curtis J. Crawford, Ph.D., is Independent Director of ON Semiconductor Corporation since September 1999. Dr. Crawford served as ON Semiconductor’s Chairman of the Board from September 1999 until his resignation from that position in April 2002. Dr. Crawford is Founder, President and Chief Executive Officer of XCEO, Inc. (“XCEO), a consulting firm specializing in leadership and corporate governance that provides mentoring and support for executives. Prior to founding XCEO, he was the President and Chief Executive Officer of Onix Microsystems, Inc., a developer and manufacturer of optically transparent switches for communication networks, from February 2002 to April 2003. From 1999 to March 2001, he was Chairman, and from 1998 to March 2001, he was President and Chief Executive Officer of Zilog, Inc., a semiconductor design, manufacturing and marketing company. From 1997 to 1998, Dr. Crawford was Group President of the Microelectronics Group and President of the Intellectual Property division of Lucent Technologies. From 1995 to 1997, he was President of the Microelectronics Group. From 1993 to 1995, Dr. Crawford was President of AT&T Microelectronics, a business unit of AT&T Corporation. From 1991 to 1993, he held the position of Vice President and Co-Chief Executive Officer of AT&T Microelectronics. From 1988 to 1991, he held the position of Vice President, Sales, Service and Support for AT&T Computer Systems. Prior to 1988, he served in various sales, marketing and executive management positions at various divisions of IBM. Dr. Crawford currently serves as a member of the board of trustees of DePaul University and as a member of the boards of directors of Xylem. Inc. and E.I. du Pont de Nemours. In the past five years, Dr. Crawford has also served on the board of directors for Agilysys, Inc. and ITT Corp. Dr. Crawford is the author of three books on leadership and corporate governance.

Age: 65

Education:

Capella University, PHD
DePaul University, MBA
Governors State University, M

Bernard L. Han

 

Director

Director/Board Member

 

Biography:

Mr. Bernard L. Han serves as Independent Director of ON Semiconductor Corp., since March 21, 2012. Since April 2009, Mr. Han has served as the Chief Operating Officer of DISH Network Corporation (“DISH Network) and is in charge of all operations, information technology, and retention marketing functions for DISH Network. In addition, he oversees all direct and indirect sales and distribution for that company. Mr. Han served as DISH Network’s Executive Vice President and Chief Financial Officer from September 2006 until April 2009 and as Chief Information Officer from 2006 to 2007. Mr. Han also served as EchoStar Corporation’s (“EchoStar) Executive Vice President and Chief Financial Officer from January 2008 to June 2010 pursuant to a management services agreement between DISH Network and EchoStar. From October 2002 to May 2005, Mr. Han served as Executive Vice President and Chief Financial Officer of Northwest Airlines, Inc. (“Northwest). Mr. Han was the Executive Vice President and Chief Financial Officer of America West Airlines (“America West) in 2002 before transitioning to Northwest in that same year. While at America West, he worked in other senior level sales and marketing and financial planning positions within the company from 1996 through 2001. Prior to joining America West, Mr. Han worked in various director and financial manager positions at Northwest between 1991 and 1995.

Age: 49

Education:

Cornell University, MBA
Cornell University, MS (Electrical Engineering)
Cornell University, BS (Electrical Engineering)

Emmanuel T. Hernandez

 

Independent Director

Director/Board Member

 

Biography:

Mr. Emmanuel T. Hernandez, CPA, is Independent Director of ON Semiconductor Corporation, since November 2002. From April 2005 to November 2008, Mr. Hernandez served as the Chief Financial Officer of SunPower Corporation. He retired as Chief Financial Officer of SunPower Corporation in November 2008, but continued in a transition role at SunPower Corporation until January 2009. Prior to April 2005, Mr. Hernandez served for more than 11 years as the Executive Vice President of Finance and Administration and Chief Financial Officer for Cypress Semiconductor, having joined that company in 1993 as its Corporate Controller. Prior to that, Mr. Hernandez held various financial positions with National Semiconductor Corporation from 1976 through 1993. Mr. Hernandez currently serves on the board of directors of Aruba Networks, Soraa, Inc., a private company that is developing LED and laser technology, and EnStorage, Inc., a private company that develops flow battery/storage technology for the renewable energy industry; and is chairman of the board of directors of MEMC Electronic Materials, Inc. In addition, in the past five years, Mr. Hernandez has served on the board of directors of Integration Associates. From May 2010 to January 2013, Mr. Hernandez also served as an operating partner at Khosla Ventures.

Age: 57

Education:

Golden Gate University, MBA (Finance)
University of Nueva Caceres, BS (Accounting)

Phillip D. Hester

 

Board Member

Director/Board Member

 

Biography:

Phil Hester is chief technology officer at AMD responsible for setting the architectural and product strategies and plans for AMDs microprocessor business. Phil also chairs the AMD Technology Council ensuring that product development integration and process organizations align technology capabilities with product direction. Phil brings 30 years of advanced system design and enterprise computing experience to AMD. Before joining the company Phil was co-founder and chief executive officer at Newisys a Sanmina-SCI company and spent 23 years at IBM serving in a variety of key leadership and executive technical roles. While at IBM Phil led a number of system technology development efforts including the RS/6000 and served as one of 15 members of the IBM Corporate Technology Council. Phil holds a Bachelor of Science and a Masters in Engineering degree from the University of Texas.

Age: 57

Education:

University of Texas, BS (Engineering)
University of Texas, Masters (Engineering)

Keith D. Jackson

 

 

President, Chief Executive Officer, Director

Director/Board Member

 

Biography:

Mr. Keith D. Jackson is President, Chief Executive Officer and Director of ON Semiconductor Corp., since November 2002. Mr. Jackson has over 30 years of semiconductor industry experience. Before joining ON Semiconductor, he was with Fairchild Semiconductor Corporation, serving as Executive Vice President and General Manager, Analog, Mixed Signal, and Configurable Products Groups, beginning in 1998, and, more recently, was head of its Integrated Circuits Group. From 1996 to 1998, he served as President and a member of the board of directors of Tritech Microelectronics in Singapore, a manufacturer of analog and mixed signal products. From 1986 to 1996, Mr. Jackson worked for National Semiconductor Corporation, most recently as Vice President and General Manager of the Analog and Mixed Signal division. He also held various positions at Texas Instruments Incorporated, including engineering and management positions, from 1973 to 1986. Mr. Jackson currently serves on the board of directors of Veeco Instruments, Inc., and has served on the board of directors of the Semiconductor Industry Association since 2008.

Age: 57

Education:

Southern Methodist University, MS (Electrical Engineering)
Southern Methodist University, BS (Electrical Engineering)

Compensation/Salary:$814,881

Compensation Currency: USD

Daryl A. Ostrander

 

Independent Director

Director/Board Member

 

Biography:

Mr. Daryl A. Ostrander is Independent Director of ON Semiconductor Corporation since February 2009. Mr. Ostrander has 35 years of experience in the semiconductor industry with experience in semiconductor manufacturing, semiconductor technology, and production implementation of new products. From 1981 to 2008, Mr. Ostrander was the Senior Vice President, Manufacturing and Technology for AMD, a global provider of microprocessor solutions for the computing, communications and consumer electronic markets. On February 1, 2010, Mr. Ostrander became a director of RF Micron, Inc., a private startup company focused on the development of next generation Radio Frequency Identifier (RFID) microchips for itemized tracking applications. On June 2, 2012, Mr. Ostrander became a director of Caddie Central, LLC, a company that provides caddie tournament management and software services for resorts and golf tournaments.

Age: 64

Education:

University of Houston, PHD (Physics)

Teresa M. Ressel

 

Director

Director/Board Member

 

Biography:

Ms. Teresa M. Ressel is Independent Director of ON Semiconductor Corporation, since March 21, 2012. From 2012 through present, Ms. Ressel has served on the management team of Olayan Americas based in New York. The Olayan Group’s private multinational enterprise engages across distribution, services and global investment including specialty asset classes. From 2004 until 2012, Ms. Ressel served in various capacities as CEO of UBS Securities LLC and previously COO of UBS Investment Bank, The Americas covering a broad array of banking and regulatory functions across the Americas region. From 2001 until 2004, Ms. Ressel served at the U.S. Department of the Treasury. She was confirmed by the United States Senate as Assistant Secretary for Management and Budget for the U.S. Treasury and was designated by Presidential Directive as the Chief Financial Officer of the department, where she served in both capacities. From 2000 until 2001, Ms. Ressel provided private equity consulting services. From 1994 until 2000, Ms. Ressel served as Vice President and then Sr. Vice President at Kaiser Permanente. Her various positions included Corporate Audit and Corporate Environmental, Health and Safety programs; Vice President and Chief Compliance Officer; and Sr. Vice President and Chief Operating Officer, e-commerce. From 1990 until 1994, Ms. Ressel was employed at Hewlett Packard and from 1987 until 1990, Ms. Ressel was employed at the Electric Boat Division, General Dynamics, Groton, CT. Both of these roles encompassed a combination of engineering, audit, operational controls and risk management.

Age: 50

Education:

Rensselaer Polytechnic Institute, MBA
University of Delaware, MS
University of Delaware, BS

 

Executives

 

Name

Title

Function

Keith D. Jackson

 

President, Chief Executive Officer, Director

Chief Executive Officer

Biography:

Mr. Keith D. Jackson is President, Chief Executive Officer and Director of ON Semiconductor Corp., since November 2002. Mr. Jackson has over 30 years of semiconductor industry experience. Before joining ON Semiconductor, he was with Fairchild Semiconductor Corporation, serving as Executive Vice President and General Manager, Analog, Mixed Signal, and Configurable Products Groups, beginning in 1998, and, more recently, was head of its Integrated Circuits Group. From 1996 to 1998, he served as President and a member of the board of directors of Tritech Microelectronics in Singapore, a manufacturer of analog and mixed signal products. From 1986 to 1996, Mr. Jackson worked for National Semiconductor Corporation, most recently as Vice President and General Manager of the Analog and Mixed Signal division. He also held various positions at Texas Instruments Incorporated, including engineering and management positions, from 1973 to 1986. Mr. Jackson currently serves on the board of directors of Veeco Instruments, Inc., and has served on the board of directors of the Semiconductor Industry Association since 2008.

Age: 57

Education:

Southern Methodist University, MS (Electrical Engineering)
Southern Methodist University, BS (Electrical Engineering)

Compensation/Salary:$814,881

Compensation Currency: USD

William M. Hall

 

Senior Vice President and General Manager - Standard Products Group

Division Head Executive

 

Biography:

Mr. William M. Hall is Senior Vice President and General Manager - Standard Products Group of ON Semiconductor Corp. During his career, Mr. Hall has held various marketing and product line management positions. Before joining the Company, he served as Vice President and General Manager of the Standard Products Group at Fairchild Semiconductor Corp. Between March 1997 and May 2006, Mr. Hall served at different times as Vice President of Business Development, Analog Products Group, Standard Products Group, and Interface and Logic Group, as well as serving as Vice President of Corporate Marketing at Fairchild. He has also held management positions with National Semiconductor Corp. and was a RADAR design engineer with RCA.

Age: 57

Education:

Drexel University, BS (Electrical Engineering With An Emphasis On Signal Processing)

Compensation/Salary:$310,916

Compensation Currency: USD

Robert A. Klosterboer

 

Senior Vice President, General Manager - Application Products Group

Division Head Executive

 

Biography:

Mr. Robert A. Klosterboer is Senior Vice President, General Manager - Application Products Group of ON Semiconductor Corp. From March 2008 to September 2012, he was Senior Vice President and General Manager of the business unit then known as the Automotive, Industrial, Medical, & Mil/Aero Group. He has more than three decades of experience in the electronics industry. During his career, Mr. Klosterboer has held various engineering, marketing and product line management positions and responsibilities. Prior to joining ON Semiconductor in 2008, Mr. Klosterboer was Senior Vice President, Automotive & Industrial Group for AMI Semiconductor, Inc. Mr. Klosterboer joined AMIS in 1982 as a test engineer and during his tenure there he also was a design engineer, field applications engineer, design section manager, program development manager, and product marketing manager. Mr. Klosterboer holds a bachelor’s degree in electrical engineering technology from Montana State University.

Age: 52

Education:

Montana State University, B (Electrical Engineering)

Compensation/Salary:$319,277

Compensation Currency: USD

Mamoon Rashid

 

Senior Vice President and General Manager, SANYO Semiconductor Group

Division Head Executive

Reuters NP*

 

Biography:

Mr. Mamoon Rashid is Senior Vice President and General Manager, SANYO Semiconductor Group of ON Semiconductor Corp. Rashid joined ON Semiconductor in October 2004. From September 2010 to December 2012, he was Vice President of Strategic Business Development. Mr. Rashid’s previous responsibilities at ON Semiconductor include Vice President and General Manager of Global Supply Chain Operations (September 2008 to August 2010), and Vice President and General Manager of the Discrete Products Division (up to August 2008). Prior to joining ON Semiconductor, Mr. Rashid held management positions at Intersil Corporation in the linear analog area, as well as other semiconductor companies. Mr. Rashid’s career spans nearly 30 years in the semiconductor industry, during which time he has held leadership positions in Product Management, Manufacturing Operations, and Sales. He holds a bachelor’s degree in Engineering from the University of Liverpool, England, as well as a MBA from Thunderbird School of Global Management.

Age: 53

Education:

Thunderbird School of Global Management, MBA
University of Liverpool, B (Engineering)

Andy Williams

 

General Manager Automotive And Power Gro

Division Head Executive

 

Biography:

Andy Williams heads ON Semiconductors Automotive and Power Group (APG) - which includes automotive power products automotive mixed-signal ASICs power regulation products and power MOSFETs. Mr. Williams held prior positions as Senior Vice President of the Automotive and Power Regulation Group from 2006 and Vice President from 2004 leading the companys efforts in the development of energy efficient power supply solutions. Prior to these roles he managed ON Semiconductors Power Conversion products and led new product technology introductions for ON Semiconductors Analog Products Group. Mr. Williams currently serves on the Board of Trustees and the Board of Advanced Transportation Systems at Rose-Hulman Institute of Technology. He also is an active member of the Arizona Technology Investors Forum. Mr. Williams began his engineering career at Motorola in 1988. He held the positions of Optoelectronics Product Engineer from 1988 to 1993 and Analog Test Engineer from 1993 to 1998. Mr. Williams earned his BSEE from Rose-Hulman Institute of Technology in 1988 and his masters degree in Engineering Management in 2000 from National Technological University.

Education:

National Technological University, master's (Engineering Management)
Rose-Hulman Institute of Technology, BSEE

Ken Bean

 

S and Operations Manager

Operations Executive

 

Nancy Chambers

 

Sales Operation Manager

Operations Executive

 

Rob Contryman

 

Operations Manager

Operations Executive

 

Carl Fong

 

Director Medical Operations

Operations Executive

 

Debbie Gross

 

Service Operations Manager

Operations Executive

 

Scott Haddow

 

Senior Director, Operations & Tms

Operations Executive

 

Thomas Hayden

 

Director of Sourcing, Global Supply Chain Operations

Operations Executive

 

Jim Hill

 

Manager of Data Warehouse Operations

Operations Executive

 

Nancy Holmes

 

Channel Operations Manager

Operations Executive

 

Craig Hudson

 

Operations Financial Analyst

Operations Executive

 

Sandy Johnson

 

Director Business Support Operations

Operations Executive

 

Brian Pickard

 

Director - Business Operations

Operations Executive

 

Andy Ross

 

Operations Executive

Operations Executive

 

Angel Santos

 

Operations Manager

Operations Executive

 

Daniel Schroeder

 

Senior Vice President, Corporate Support Fab Operations

Operations Executive

 

Tom Trostle

 

Manager, Global Storage

Operations Executive

 

Pei Wang

 

Production Operations

Operations Executive

 

Mark Wasilewski

 

Operations

Operations Executive

 

Pamela Amorin

 

Manager, Environmental Health and Safety

Environment/Safety Executive

 

Jeff Bauer

 

Manager Environmental Health and Safety

Environment/Safety Executive

 

Gary La France

 

Senior Facilities Life Safety & Controls Engineer

Environment/Safety Executive

 

Bruce Magata

 

Managerenterprise Databases and Environmentsinformation Technology

Environment/Safety Executive

 

Chip Bilyeu

 

Systems Management, Administration

Administration Executive

 

Dave Ciliento

 

Citrix Admin

Administration Executive

 

Tracy Hewelt

 

Administrator

Administration Executive

 

Isaac Kimura

 

Database Administrator Architect

Administration Executive

 

Simon Lu

 

Business Manager

Administration Executive

 

Deepak Malhotra

 

Senior Oracle Applications Database Administrator

Administration Executive

 

Mario Robles

 

Director, Finance It

Administration Executive

 

Sanjay Singh

 

Senior Oracle Applications Database Administrator

Administration Executive

 

Gary Pugsley

 

North American Regional Security Manager

Security

 

George H. Cave

 

Senior Vice President, General Counsel, Chief Compliance & Ethics Officer, Corporate Secretary

Company Secretary

 

Biography:

Mr. George H. Cave is Senior Vice President, General Counsel, Chief Compliance & Ethics Officer, Corporate Secretary of ON Semiconductor Corporation. MrHe also currently serves as a Senior Vice President, Corporate Secretary and Chief Compliance & Ethics Officer for the Company. Mr. Cave’s professional career spans over 27 years of broad legal and business experience, including working for over 20 years in the semiconductor industry. Before his tenure with ON Semiconductor and SCI LLC, he served for two years as the Regulatory Affairs Director for Motorola’s Semiconductor Components Group in Geneva, Switzerland. Prior to that position, Mr. Cave was Senior Counsel in the Corporate Law Department of Motorola in Phoenix, Arizona for five years. Mr. Cave also serves as the Vice Chairman of the Board of Directors of the American Medical College of Homeopathy.

Age: 55

Compensation/Salary:$366,653

Compensation Currency: USD

Margie Ankrum

 

Financial Analyst

Finance Executive

 

Karla Berrelleza-Monson

Corporate Analysis Manager

Finance Executive

 

Karen Cader

 

Financial Analyst

Finance Executive

 

Terence Chai

Finance

Finance Executive

 

David Colvin

 

Chief Financial Officer

Finance Executive

 

Bernard Gutmann

 

Executive Vice President and Chief Financial Officer

Finance Executive

 

Biography:

Mr. Bernard Gutmann is Chief Financial Officer, Executive Vice President, Treasurer of ON Semiconductor Corp., since September 26, 2012. Before his promotion, he worked with the corporation as Vice President, Corporate Analysis & Strategy of SCI LLC, serving in that position from April 2006 to September 2012. Mr. Gutmann also served and continues to serve as the CFO of SANYO Semiconductor, a position he has held since March 2011. In these roles, his responsibilities have included finance integration, financial reporting, restructuring, tax, treasury, and financial planning and analysis. From November 2002 to April 2006, Mr. Gutmann served as Vice President, Financial Planning & Analysis and Treasury of SCI LLC. From September 1999 to November 2002, he held the position of Director, Financial Planning & Analysis of SCI LLC. Prior to joining ON Semiconductor, Gutmann served in various financial positions with Motorola, Inc. from 1982 to 1999, including controller of various divisions and an off-shore wafer and backend factory, finance and accounting manager, financial planning manager and financial analyst. He holds a Bachelor of Science in Management Engineering from Worchester Polytechnic Institute in Massachusetts (U.S.). Additionally, he is fluent in English, French, Spanish, and conversant in German.

Age: 53

Compensation/Salary:$298,371

Compensation Currency: USD

Ice Huang

 

Finance

Finance Executive

 

Rika Kato

 

Finance Executive

Finance Executive

 

Lawrence Lay

 

Manager Credit

Finance Executive

 

Kip Levaggi

Corporate Financial Analyst

Finance Executive

 

Ken Rizvi

 

Finance, Business Development

Finance Executive

 

Carl Stoddard

 

Financial Planning and Forecasting Analyst

Finance Executive

 

Amy Chen

 

Accountant On Semiconductor Taiwan Branch

Accounting Executive

 

Faye Paras

 

Ap Accountant

Accounting Executive

 

Dannielle Parker

 

Cost Accountant

Accounting Executive

 

Amantha Sierra

 

Accounts Payable Accountant

Accounting Executive

 

Jen Lui

 

Corporate Cash and Fx Manager

Cash Management Executive

 

Sloan Boss

 

IR Contact Officer

Treasurer

 

Katsuhito Takei

 

Treasurer

Treasurer

 

Steve Miller

 

Corporate Controller

Controller

 

Sean Reader

 

Corporate Controller

Controller

 

Yoichi Sato

 

Controller

Controller

 

Cliff Sonquest

 

Controller

Controller

 

Sharlene Aquino

 

Manager, Talent Management, Compensation & Benefits

Benefits & Compensation Executive

 

Lynch Arcibal

 

Payroll Team Lead

Benefits & Compensation Executive

 

Alice Bartschi

 

Director Global Compensation

Benefits & Compensation Executive

 

 

Michelle Demetrius

Director Benefits

Benefits & Compensation Executive

 

Michelle Salcido

Global Benefits Manager

Benefits & Compensation Executive

 

Paul Sonnen

 

Payroll Manager

Benefits & Compensation Executive

 

Ginny Watson

 

Senior Benefit Analyst

Benefits & Compensation Executive

 

Ravi Annadurai

 

Hris Specialist

Human Resources Executive

 

Mark Bradley

 

Director-Human Resources

Human Resources Executive

 

Tobin Cookman

 

Human Resources Vice President

Human Resources Executive

 

Colleen Mccane

 

Vice President, Human Resources Executive

Human Resources Executive

 

Colleen McKeown

 

Senior Vice President Of Human Resources

Human Resources Executive

 

Biography:

Ms. Colleen McKeown joined IPSA International Inc. as a member of the Board of Advisors in April 2008. Ms. McKeown is currently the Senior Vice President of Human Resources and Communications of ON Semiconductor a $2.2B semiconductor company with operations in over 21 countries. In her role Ms. McKeown is responsible for human resources communications and security. Prior to joining ON Semi in 2005 she worked as an independent consultant for private equity companies at Gate Gourmet and US Airways. From 2000 to 2003 Ms. McKeown served as Senior Vice President Human Resources and Administration at eFunds Corporation a publically traded provider of banking services in the US UK Canada and India. Previously she served as Chief Administrative Officer for iDLX a joint venture company with HCL of India. Throughout Ms. McKeown's professional career she has held a variety of senior level positions in sales human resources and labor relations in some of the nation's largest companies such as PepsiCo Ford Motor Company and Northwest Airlines. In her work experience Ms. McKeown has worked with public and private boards performed due diligence and integration efforts in a number of different industries and worked on a variety of turn-around and transformation situations in global companies.

Claudia Morgan

 

Human Resources Onn Semi

Human Resources Executive

 

Juan Suarez

 

Country Human Resources Manager

Human Resources Executive

 

Hana Machova

 

Us Customer Service Representative

Customer Service Executive

 

Michael Molino

 

Customer Quality Manager

Customer Service Executive

 

Phil Amsrud

 

Cas Nafta Sales Manager

Sales Executive

 

Brian Ball

 

Sales Manager

Sales Executive

 

Wayne Do

l

Director of Sales

Sales Executive

 

Alicea Emery

 

Inside Sales

Sales Executive

 

Shmil Froman

 

Southern Europe Sales Director

Sales Executive

 

Miguel Guajardo

 

Regional Sales Manager

Sales Executive

 

Craig Gunby

 

Continental Account Manager-Advanced Sales

Sales Executive

 

Peter Hansen

 

Vice President N American Sales

Sales Executive

 

Jeffrey Ingram

 

Director Central Area Sales

Sales Executive

 

Devon Johnson

 

Senior Field Sales Engineer

Sales Executive

 

Chuck Knobel

 

Manager-Technical Support

Sales Executive

 

Ernest Lademann

 

Regional Sales Manager

Sales Executive

 

Dave Larson

 

Account Manager

Sales Executive

 

Robert Charles Mahoney

l

Executive Vice President Sales & Marketing

Sales Executive

 

Biography:

Robert Charles Mahoney . Mr. Mahoney joined the Company in November 2002 and has served in various positions. Most recently in June 2006 he was appointed as Executive Vice President for Sales and Marketing for ON Semiconductor and SCI LLC. Mr. Mahoney has over 20 years of semiconductor industry experience in sales and sales management. From May 2006 through June 2006 Mr. Mahoney served as the interim Senior Vice President of Marketing and Sales for the Company. From August 2004 through April 2006 he served as the Vice President of North America Sales Computing Segment Sales and Sales Operations and from November 2002 through August 2004 he served as the Companys Vice President of Global Distribution and Electronic Manufacturing Services Industry. Before joining the Company Mr. Mahoney was Vice President of World Wide Sales at Xicor Semiconductor from October 2001 until November 2002 and Vice President of Strategic Accounts at Altera Corporation from May 2000 until October 2001. During his career he has also held sales management roles at Analog Devices Inc. and National Semiconductor Corp.

Age: 63

Education:

University of Massachusetts, BS (Materials Science)
Washington State University, Master (Materials Engineering)
Washington State University, MBA

Mike Matule

 

Sales Manager

Sales Executive

 

Brenda Mccain

 

Production Readiness Sales

Sales Executive

 

Sergio Mendes

 

Area Sales Manager Americas

Sales Executive

 

John Murphy

 

Area Sales Manager Chicago

Sales Executive

 

Jorge Perazza

 

Sales Manager

Sales Executive

 

David Riddle

 

Sales Manager

Sales Executive

 

Michael Rohleder

 

Director Of Sales

Sales Executive

 

Biography:

Michael J. Rohleder became a director in April 2011 and has been our President since June 2009. Prior to being named to that position Mr. Rohleder was employed by the Company as its Executive Vice President Corporate Development and Investor Relations a position he had held since joining the Company in March 2008. Prior to joining the Company Mr. Rohleder served as the Sr. Vice President of Worldwide Sales and Marketing for ON Semiconductor a semiconductor manufacturer (formerly the Motorola Semiconductor Components Division). From 1991 to 1999 he was Chief Executive Officer of MEMEC North America which was a division of VEBA AG. During his tenure at MEMEC the company grew from $18 million in annual sales to over $2.5 billion.

Maryann Sofka

 

Assistant To Executive Vice President Sales

Sales Executive

 

Alexis Tomala

 

Sales Manager

Sales Executive

 

Bob Brunke

 

Global Account Manager

International Sales Executive

 

Jean-Nicolas Corman

 

Global Account Manager

International Sales Executive

 

Aj Eljallad

 

Global Account Manager

International Sales Executive

 

Brian Griffin

 

Global Account Manager

International Sales Executive

 

Ralph Papalia

 

Global Account Manager

International Sales Executive

 

Paul Rolls

 

Executive Vice President, Worldwide Sales and Marketing

International Sales Executive

 

Biography:

Mr. Paul Rolls is Executive Vice President - Worldwide Sales and Marketing of ON Semiconductor Corp. Mr. Rolls has more than 25 years of technology sales, and sales management and operations experience, with more than 17 years of sales and sales management experience in the semiconductor industry. Before his promotion, Mr. Rolls served as Senior Vice President Japan Sales and Marketing and Senior Vice President of Global Sales Operations at ON Semiconductor, serving in this position since joining the company in October 2012 until his recent promotion. Before joining the company, Mr. Rolls was the Senior Vice President, Worldwide Sales and Marketing at Integrated Device Technology, Inc. from January 2010 to April 2012. From August 1996 to December 2009 he held multiple sales positions at International Rectifier Corp., most recently as Senior Vice President, Global Sales. During his career, he has also held management roles at Compaq Computer Corporation.

Age: 49

Bruce Ayling

 

Senior Director, Global IT Infrastructure

International Executive

 

George Carney

 

Manager, Global Qty

International Executive

 

Richard Diaz

 

Director Contracts & Global Pricing

International Executive

 

Alex Easterly

 

Team Manager of Global Infrastructure

International Executive

 

Bill Fechter

 

Director of Global Supply Chain Planning

International Executive

 

Sandy Gardner

 

Global Procurement Systems

International Executive

 

Quinn Guiteras

 

Global Manager, Wintel Systems

International Executive

 

George Jimenez

 

Traffic Analyst, Global Logistics and ...

International Executive

 

Rebecca Watwood

 

Import Export Compliance

International Executive

 

Eamonn Ahearne

 

Marketing Director

Marketing Executive

 

Steve Ahrens

 

Automotive Mosfet Marketing Manager

Marketing Executive

 

Alain Alauzet

 

Customer Marketing

Marketing Executive

 

Donald Barlow

Product Marketing

Marketing Executive

 

Erick Dean

Strategic Marketing Manager

Marketing Executive

 

Tamera Drake

Manager of Marketing Communications

Marketing Executive

 

Joe Gallagher

 

Director Design Enablement

Marketing Executive

 

Randy Keadle

 

Consumer Marketing Director

Marketing Executive

 

Joyce Keiser

Automotive Bu Forecasting, Marketing

Marketing Executive

 

Peter Lanyon

Director Marketing

Marketing Executive

 

Morgan Lee

Regional Marketing Manager

Marketing Executive

 

Tony Leischner

Marketing Manager, Implantable Medical Devices

Marketing Executive

 

Fiona Leung

Customer Marketing

Marketing Executive

 

Gary Malmberg

Marketing Communications & Advertising

Marketing Executive

 

Kimberly Mccormick

Business Marketing Analyst

Marketing Executive

 

Carl Mccrory

 

Marketing

Marketing Executive

 

Kelli Mcnatt

Business Marketing Manager

Marketing Executive

 

Terri Michelle

Marketing Communications

Marketing Executive

 

Tim Micun

Director of Marketing Mobile Protection Products

Marketing Executive

 

Dev Nair

Marketing Director For Eeprom Products

Marketing Executive

 

Helmut Schweiss

Marketing Director

Marketing Executive

 

Umesh Sharma

Director, Design and Technology Development

Marketing Executive

 

Steve Sheard

 

Strategic Programs Manager and Senior Application and Marketing Engineer

Marketing Executive

 

David Somo

 

Vice President, Corporate Marketing

Marketing Executive

 

John Trice

 

Director of Marketing

Marketing Executive

 

Jonas Weiland

 

Strategic Marketing Manager

Marketing Executive

 

Bob Colbert

 

Manager, Employee Communications

Corporate Communications Executive

 

Anne Spitza

 

Corporate Communications Executive

Corporate Communications Executive

 

Don Strobert

 

Manager, Employee Communications

Corporate Communications Executive

 

Dawn Strobert

 

Employee Communications Specialist

Corporate Communications Executive

 

Brian Scrivner

 

New Product Promotion Manager

Advertising Executive

 

Sheri Stanley

 

Coordinator of Investor Relations

Investor Relations Executive

 

Rosa Vasquez

 

Investor Relation Contact

Investor Relations Executive

 

Scott Beech

 

Purchaser For Information Technology

Information Executive

 

Lidia Bujor

 

Vms Systems Manager

Information Executive

 

Sankhajit Chakraborty

 

Senior Information Technology Manager

Information Executive

 

Cessna Chris

 

Programmer

Information Executive

 

Marty Halfman

 

Information Technology Sourcing Manager

Information Executive

 

Jim Hostetler

 

Information Technology Manager, Supply Chain Systems

Information Executive

 

Carol Jensen

 

Information Technology Senior Edi Business Analyst

Information Executive

 

Teck Koh

 

Information Technology Manager

Information Executive

 

John Mattuasch

 

Data Warehous Technical Lead

Information Executive

 

John Morrison

 

Business Intelligence Senior Manager, Information Technology

Information Executive

 

Richard Mosher

 

Information Technology Manager

Information Executive

 

Chris Neeser

 

Programmer Analyst

Information Executive

 

Kim Ressa

 

Manager Planning and Logistics Systems

Information Executive

 

Zarah Sabucido

 

Information Technology Manager-Plant

Information Executive

 

Rick Stein

 

Manager, Unix Systems

Information Executive

 

Ron Urbanski

 

Information Technology

Information Executive

 

David Wagner

 

Chief Information Officer / Chief Technology Officer, Vice President

Information Executive

 

Biography:

David Wagner is ON Semiconductor’s chief information officer. Prior to ON, he was a vice president of information technology at Dell. Wagner is a graduate of Rice University in Houston.

Education:

Rice University

Adam Walsh

 

Director of Information Technology

Information Executive

 

Ted Bruan

 

Systems Analyst

Network Management Executive

 

Steven Dick

 

Information Systems Manager

Network Management Executive

 

Nardo Mendoza

 

Network Director

Network Management Executive

 

Gary Alleven

 

Field Applications Engineer

Engineering/Technical Executive

 

Lynn Arbuckle

 

Design Engineer

Engineering/Technical Executive

 

Doru Baragau

 

Design Engineer

Engineering/Technical Executive

 

Brian Blackburn

 

Senior Field Application Engineer

Engineering/Technical Executive

 

Coleen Bliss

 

Device Engineer

Engineering/Technical Executive

 

Charlie Bobbitt

 

Engineering and Research and Development Manager

Engineering/Technical Executive

 

Dave Briggs

 

Applications Engineer

Engineering/Technical Executive

 

Scott Brow

Product Engineering Manager

Engineering/Technical Executive

 

Jon Buzzi

Senior Ic Layout Engineer

Engineering/Technical Executive

 

Jarvis Carter

 

Product Engineer

Engineering/Technical Executive

 

Baljit Chandhoke

Senior Applications Engineer In The Clock

Engineering/Technical Executive

 

George Chang

 

Engineering Manager

Engineering/Technical Executive

 

Shirley Chang

Senior Product Engineer

Engineering/Technical Executive

 

Fook Cheah

Technology Engineer

Engineering/Technical Executive

 

Martin Clarke

Device Engineer

Engineering/Technical Executive

 

Skyler Covington

 

Application Engineer

Engineering/Technical Executive

 

Terry Danzer

Manager Hardware Engineering Asic

Engineering/Technical Executive

 

Frederik Deleu

Engineering Manager

Engineering/Technical Executive

 

Vedprakash Deverashetty

Oracle Applications Technical Consultant

Engineering/Technical Executive

 

Anthony Dimalanta

Engineer

Engineering/Technical Executive

 

Matt Dunn

Product Engineer

Engineering/Technical Executive

 

Rick Exley

 

Design Engineer

Engineering/Technical Executive

 

Ann Feicht

Manufacturing Engineer

Engineering/Technical Executive

 

Alan Finkel

 

Senior Applications Engineer

Engineering/Technical Executive

 

Peter Fletcher

Project Management Manager

Engineering/Technical Executive

 

William George

 

Chief Manufacturing And Technology

Engineering/Technical Executive

 

Biography:

Dr. George joined the board of directors in March 2009. Dr. George was executive vice president in charge of worldwide operations at ON Semiconductor from its founding in 1999 until June 2007. From 2007 through his retirement in 2008 he directed the startup of ON Semiconductors foundry services business. Previously Dr. George served in a variety of operations and engineering roles at Motorola Inc. most recently as corporate vice president and director of manufacturing for the companys semiconductor components group. Dr. George also serves on the boards of Silicon Image Inc. and Ramtron International Corporation. He is also a member of the Sandia National Laboratories Science Advisory Board and the manufacturing advisory board of Cypress Semiconductor Corporation. He received a B.S. degree in metallurgical engineering from the University of Oklahoma and a Ph.D. in materials science from Purdue University.

Chitlesh Goorah

 

Digital Design Engineer

Engineering/Technical Executive

 

Hubert Grandry

 

Senior Application Engineer

Engineering/Technical Executive

 

Dan Hegsted

 

Test Engineer

Engineering/Technical Executive

 

Greg Hooker

 

Product Engineer

Engineering/Technical Executive

 

Sallie Hose

 

Technology Development Engineer At On Semiconducto

Engineering/Technical Executive

 

Kirk Huang

 

Device Engineer

Engineering/Technical Executive

 

Tomas Hubalek

 

Staff Programmer Analyst

Engineering/Technical Executive

 

Radu-Horia Iacob

 

07 Engineering Manager

Engineering/Technical Executive

 

Dorai Iyer

 

Test Engineer

Engineering/Technical Executive

 

Li Jiang

 

Design Engineer

Engineering/Technical Executive

 

Holly Jiang

 

Logic Product Engineer

Engineering/Technical Executive

 

Earl Jones

 

Lab Director

Engineering/Technical Executive

 

Roman Jurko

 

Device Engineer

Engineering/Technical Executive

 

Terry Keating

 

Product Marketing Engineer

Engineering/Technical Executive

 

Tamas Kohalmi

 

Tech Eval

Engineering/Technical Executive

 

Dailbor Koutek

 

Ip Design Engineer

Engineering/Technical Executive

 

James Lepkowski

 

Engineer

Engineering/Technical Executive

 

Jim Letterman

 

Assembly Engineering Manager

Engineering/Technical Executive

 

David Lin

 

Senior Software Engineering Manager

Engineering/Technical Executive

 

Sylvain Loranger

 

Software Tools Development

Engineering/Technical Executive

 

Daniel Mcclurg

 

Principal Engineer

Engineering/Technical Executive

 

Jim Mcmahon

 

Field Application Engineer

Engineering/Technical Executive

 

Al Merino

 

Senior Process Engineer

Engineering/Technical Executive

 

Hans Morales

 

Zr Device Engineer

Engineering/Technical Executive

 

Robert Mosher

 

Manager, Mos Power Technology

Engineering/Technical Executive

 

Leandro Muela

 

Process Engineer

Engineering/Technical Executive

 

Deva Muthuavinashiappan

 

Senior Programmer Analyst

Engineering/Technical Executive

 

 

Jim Nissen

 

Analog and Mixed Signal Engineer

Engineering/Technical Executive

 

Staci Oconnell

 

Ehs Director

Engineering/Technical Executive

 

Kieran O'Malley

 

Engineer

Engineering/Technical Executive

 

Lancelot Ou

 

Senior Principle Analog Design Engineer

Engineering/Technical Executive

 

Sam Patel

 

Director of Evaluation, Product Engineering & San Jose Site Manager

Engineering/Technical Executive

 

Jay Perry

 

Equipment Technology Manager

Engineering/Technical Executive

 

Jeffery Phil

 

Tech Staff Member

Engineering/Technical Executive

 

Greg Piatt

 

Equipment Engineer

Engineering/Technical Executive

 

David Price

 

Process Engineer

Engineering/Technical Executive

 

Jb Quintos

 

Engineer

Engineering/Technical Executive

 

John Rankin

 

Senior Product Marketing Engineer

Engineering/Technical Executive

 

 

Field Applications Engineer

Engineering/Technical Executive

 

Shannon Riggs

 

Product Engineering Manager

Engineering/Technical Executive

 

Ann Rincon

 

Manager Engineering & Product Development

Engineering/Technical Executive

 

Tom Rowley

 

Director, Software Developer

Engineering/Technical Executive

 

Anthony Russell

 

Rnd Engineering Director

Engineering/Technical Executive

 

Tom Ryck

 

Application Engineer

Engineering/Technical Executive

 

Terry Schofield

 

Cad Support Engineer

Engineering/Technical Executive

 

Dwayne Sherrard

Manager H, W Engineering Mixed Signal

Engineering/Technical Executive

 

Nagena Shivakumar

Applications Engineer

Engineering/Technical Executive

 

Hans Stork

 

Chief Technology Officer and Senior Vice President

Engineering/Technical Executive

 

Casey Stys

 

Engineer

Engineering/Technical Executive

 

Radovan Svoboda

 

Programmer Analyst At On Semiconductor

Engineering/Technical Executive

 

Rick Tan

 

Engineer Manager

Engineering/Technical Executive

 

Marcy Thompson

 

Engineer

Engineering/Technical Executive

 

Trung Tran

 

Senior Project Engineer

Engineering/Technical Executive

 

Rob Troy

 

Director of Engineering

Engineering/Technical Executive

 

Darrell Truhitte

 

New Product Development Engineer

Engineering/Technical Executive

 

Victor Valle

 

Software Engineer

Engineering/Technical Executive

 

Gerry Walcott

 

Quality Engineer

Engineering/Technical Executive

 

Larry Walker

 

Manager of Characterization Lab

Engineering/Technical Executive

 

James Wardall

 

Engineering Manager

Engineering/Technical Executive

 

James Young

 

Principal Engineer

Engineering/Technical Executive

 

Peter J Zdebel

 

Chief Technology Officer Cto And Senior

Engineering/Technical Executive

 

Biography:

Dr. Zdebel is the recently retired Senior Vice President and Chief Technical Officer at ON Semiconductor. Prior to his role at ON Semiconductor Zdebel held various R&D managerial and leadership positions at the Motorola Semiconductor Products Sector (SPS). He was appointed Vice President of Technology Development and Director of System-on-Chip (SoC) technology of the Motorola Digital DNA Laboratories in Austin TX in 1999. That same year Dr.Zdebel was also elected Vice President and Chief Technology Officer of the Motorola SPS Wireless Subscriber Systems Group (WSSG).Dr.Zdebel holds 37 patents on semiconductor devices and processes. He has served as a mentor for the Semiconductor Research Corporation (SRC) as a Technical Committee Member of the BCTM and IEDM conferences of the IEEE and as an Associated Editor for the IEEE Transactions on Electron Devices from 1992 to 1994. Dr.Zdebel received his two engineering degrees Dipl.-Ing. and Dr.-Ing. from the University of Aachen Germany.

Education:

University of Aachen , Germany, PhD (Electrical Engineering)

Charlie Zhou

Design Engineer

Engineering/Technical Executive

 

Mathew Zuniga

 

Applications Engineering Tech

Engineering/Technical Executive

 

Robert Brennan

Senior Scientist

Research & Development Executive

 

Rebecca Burgin

 

Scientist

Research & Development Executive

 

Paul Deal

 

Chemist

Research & Development Executive

 

Mark Griswold

Scientist

Research & Development Executive

 

Roger Stout

 

Senior Research Scientist

Research & Development Executive

 

Thruston Awalt

 

Product Marketing Manager, Configurable Analog Products

Product Management Executive

 

Philippe Bourban

 

Director of Product Development

Product Management Executive

 

Mark Busier

 

Product Manager

Product Management Executive

 

David Coode

 

Product Manager

Product Management Executive

 

Rich Field

 

Product Manager

Product Management Executive

 

Muhammad Ghalib

 

Director, Base Oils and Special Products

Product Management Executive

 

Brian Goodburn

 

Product Marketing

Product Management Executive

 

John Keller

 

New Products Development

Product Management Executive

 

Debbie Kowal

 

Business Marketer Standard Products Gr...

Product Management Executive

 

Himanshu Kumar

 

Director Product and Test

Product Management Executive

 

Heather Nichols

 

Dmi Products

Product Management Executive

 

Marc Niklaus

 

Product Line Manager

Product Management Executive

 

Guido Remmerie

 

Director Industrial Application Specific Standard Products

Product Management Executive

 

Scott Serrano

 

Product Manager

Product Management Executive

 

Dirk Splenter

 

Productie On Semiconductor Belgium Bvba

Product Management Executive

 

Ricky Taylor

 

Director New Product Development

Product Management Executive

 

David Wahl

 

Product Manager

Product Management Executive

 

Joshua Warner

 

Product Manager, Signal and Interface At On Semiconductor

Product Management Executive

 

Jeremy Oliver

Test Capacity Planning Manager

Planning Executive

 

Sonny Cave

 

Chief Compliance

Legal Executive

 

Biography:

Sonny Caves professional career spans 20 years of broad legal and business experience including working for more than 10 years within the semiconductor industry. Mr. Cave currently serves as the Senior Vice President General Counsel Secretary and Chief Compliance and Ethics Officer of ON Semiconductor Corporation headquartered in Phoenix Arizona. ON Semiconductor (NASDAQ:ONNN) is a leading global supplier of advanced semiconductors for sophisticated electronics application within the portable wireless computing consumer networking automotive and industrial end-product markets. It has major sales and operations in the Americas Europe and Asia-Pacific regions. Mr. Cave earned his Juris Doctorate degree from the University of Colorado Law School in 1985. He also holds a Master of Science degree in Botany from Arizona State University (1982) and a Bachelor of Science degree in Botany cum laude from Duke University (1979).

Source: OneSourceWeb

Education:

Arizona State University, MS (Botany)
Duke University, BS (Botany)
University of Colorado Law School, JD

Kevin Jackson

 

Patent Attorney

Legal Executive

 

Mark Goranson

 

Senior Vice President of Manufacturing

Manufacturing Executive

 

John Spicer

 

Senior Director- Fab 5 Plant

Manufacturing Executive

 

Chandra Subramaniam

 

Vice President Director of Internal Manufacturing

Manufacturing Executive

 

Rebecca Turner

Gresham Manufacturing Quality Manager

Manufacturing Executive

 

Wendy Clancy

 

Logistics Analyst

Logistics Executive

 

Kris Karbusicky

 

Logistics Manager

Logistics Executive

 

Carrie Adank

 

Senior Buyer, Planner

Merchandise Management Executive

 

Al Falk

 

Manager

Merchandise Management Executive

 

 

Miroslav Adensam

 

Purchasing Manager

Purchasing Executive

 

Chris Gibson

 

Procurement Specialist

Purchasing Executive

 

Bill Guzick

 

Strategic Sourcing Manager Supply Chain

Purchasing Executive

 

Sylvie Hermann

 

Procurement Specialist

Purchasing Executive

 

Brian Reichardt

 

Over Purchasing

Purchasing Executive

 

Joeri Klutsch

 

Quality Manager

Quality Executive

 

Bruce Whitefield

 

Director Quality

Quality Executive

 

Nancy Villar

 

Manager IT Risk

Insurance Executive

 

Tom Anderson

 

Director

Other

 

Reenie Ardans

 

Layout Supervisor

Other

 

Ignace Borde

V

Foundry Business Unit Director

Other

 

Andy Broom

 

Vice President

Other

 

Sean Brown

 

Manager, Applications

Other

 

Eric Brown

 

Commodity Manager

Other

 

Troy Bryant

 

Manager, Standards Team

Other

 

Bill Burghout

 

Manager

Other

 

Frank Cathell

 

Chandler Development Center

Other

 

Sophie Chen

 

Senior Applicationengineer

Other

 

William Clemens

 

Project Manager

Other

 

Darryn Davidson

 

Program Manager

Other

 

Bonnie Faulkinbuy

 

Buildings & Grounds Supervisor

Other

 

 

Jessica Feng

 

Designer

Other

 

Denise Ferschke

 

Cpim

Other

 

Alex Gilmour

 

Foundry Manager

Other

 

 

Jonathan Goldberg

 

Director, Sourcing Corporate Services

Other

 

Jennifer Goodman

 

Strategic Sourcing Manager

Other

 

Omar Gordillo

 

Sports Editor

Other

 

David Griffy

 

Strategic Sourcing Manager

Other

 

 

Susan Gudykunst

 

Oracle Functional

Other

 

Helen Hall

 

O and M Supervisor

Other

 

 

Chris Hardy

Talent Acquisition Manager

Other

 

Michael Hatty

 

Analyst

Other

 

Moriah Hepworth

 

External Reporting

Other

 

Carrie Hong

 

Manager of Sourcing

Other

 

Robert Iversen

 

Manager, Supervisor

Other

 

Eunice Kearin

 

Fab Support

Other

 

David Kelly

 

Senior Director of Intellectual Property Development

Other

 

S Kumar

 

Vice President & Director

Other

 

Dianne Leadbetter

 

Designer

Other

 

John Legere

 

Director

Other

 

Anne Loeffler

 

External Reporting

Other

 

Greg Lyckman

 

Erp Implementation Manager

Other

 

Charlie Mann

 

Wintel Desktop Architect

Other

 

 

David Mcdonald

 

Applications Manager

Other

 

Linda Mitchell

 

Contractor

Other

 

Al Morrison

 

Vice President, Mixed Signal Foundry Services

Other

 

Frank Myers

 

Director

Other

 

Steve Nugent

 

Director, Corporate Program Management

Other

 

 

Tim Orlie

 

Cad Designer

Other

 

Doug Osterhout

 

Bay Area Sec Manager

Other

 

Troy Philbert

 

Manager, Business Application

Other

 

Steve Ploog

 

Manager Oracle Applications

Other

 

Ravi Ravikotimatam

 

Senior Manager Erp Solutions

Other

 

Pat Regman

Business Marketer

Other

 

Lucia Rusnakova

 

Emea Service Platform Manager

Other

 

 

Shashi Sakhuja

 

Director

Other

 

Sarah Sbordone

 

Corporate Comm

Other

 

Mark Schade

 

Manager

Other

 

Bill Schromm

 

Senior Vice President

Other

 

Biography:

William A. Schromm . Mr. Schromm has been with the Company since August 1999 and as of May 2006 serves as Senior Vice President and General Manager Computing and Consumer Products Group for ON Semiconductor and SCI LLC. Mr. Schromm has over 30 years of semiconductor industry experience. During his tenure with the Company he has held various positions. From December 2005 through May 2006 he served as the Vice President and General Manager of the High Performance Analog Division and also led the Analog Products Group. Beginning in January 2003 he served as Vice President of the Clock and Data Management business and continued in that role with additional product responsibilities when this business became the High Performance Analog Division in August 2004. Prior to that he served as the Vice President of Tactical Marketing from July 2001 through December 2002 after leading the Companys Standard Logic Division since August 1999. Michael A. Williams . Mr. Williams has been with the Company since August 1999 and has served in various capacities and effective as of May 2006 as Senior Vice President and General Manager of the Automotive and Power Group of ON Semiconductor and SCI LLC. Mr. Williams has over 20 years of semiconductor industry experience. Prior to his present position within the Analog Products Group of the Company he served as Vice President from February 2005 until May 2006 Director from 2002 through 2004 Product Manager from 2000 through 2002 and Technology Introduction Manager before 2000. The present term of office for the officers named above will generally expire on the earliest of their retirement resignation or removal. There is no family relationship among any such officers.

Education:

Boston College, bachelor's
Boston College, master's
University of Phoenix, bachelor's

Vickie Scott

 

Manager

Other

 

Tim Seneff

Designer

Other

 

James Stoeckmann

 

Manager

Other

 

Harry Styer

 

Material Supervisor

Other

 

 

Nancy Sutton

 

Silicon Sourcing Manager

Other

 

 

 

Jim Swier

 

Site Services Manager

Other

 

Kazuto Tanahashi

 

Vice President

Other

 

Satoshi Terada

 

Senior Manager, Applications

Other

 

Joyce Tuell

 

Business Marketer

Other

 

 

Gelu Voicu

 

Senior Vice President

Other

 

Bernie Wang

 

Seniorprogrammeranalyst

Other

 

Timothy Warneck

 

Analog Ic Designer

Other

 

Lynett Westergard

 

Device Reliabilty Manager North America

Other

 

Michael A Williams

 

Senior Vice President

Other

 

Tom Wilp

 

Director, Pm

Other

 

Rusty Winzenread

 

Director Isp Business Unit

Other

Han Zou

 

Senior Applications Engine

Other

 

 

 

Significant Developments

 

 

 

ON Semiconductor Corp Issues Q3 2013 Revenue Guidance Below Analysts' Estimates

Aug 01, 2013


ON Semiconductor Corp announced that it anticipate total ON Semiconductor revenues will be approximately $700 to $730 million in the third quarter of 2013. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $737 million for the third quarter of 2013.

EADS NV's Airbus and ON Semiconductor Corp Launches Application Specific Integrated Circuit for A350 XWB Flight Control Computer

Jun 17, 2013


EADS NV's Airbus and ON Semiconductor Corp announced that they have collaboratively developed and released to production an Application Specific Integrated Circuit (ASIC) for the A350 XWB Flight Control Computer. Code named JEKYLL, this custom silicon solution was designed using ON Semiconductor Corp's internal 110 nanometer process technology and manufactured at its Gresham, Oregon, facility. Designed in compliance with the D0-254 aerospace requirements and satisfying EADS NV's Airbus' demanding reliability and product longevity needs, the ASIC provides optimized performance for the Flight Control Primary Computer on the A350 XWB.

ON Semiconductor Corp Receives Title III Government Funding For Development Of Advanced Star Tracker Image Sensor

May 22, 2013


ON Semiconductor Corp announced that it has collaborated with SRI International and Ball Aerospace & Technologies Corp. to secure funding for the Defense Production Act Title III, Advanced Complementary Metal Oxide Semiconductor (CMOS) Focal Plane Arrays (FPA) for Visible Sensors for Star Trackers (VSST) Project. The goal of the project is to increase the availability of domestically produced visible imagers, manufactured using advanced CMOS technology, that are designed to enable flexible visible imaging systems for use on-board satellite systems for Department of Defense and other U.S. Government needs.

ON Semiconductor Corp Issues Q2 2013 Revenue Guidance In Line With Analysts' Estimates

May 02, 2013


ON Semiconductor Corp announced that it anticipate total ON Semiconductor revenues will be approximately $675 to $715 million in the second quarter of 2013. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $702 million for the second quarter of 2013.

ON Semiconductor Corp Issues Q1 2013 Revenue Guidance In Line With Analysts' Estimates

Feb 07, 2013


ON Semiconductor Corp announced that for the first quarter of 2013, it expects total revenues to be approximately $645 million to $685 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $664 million for the first quarter of 2013.

ON Semiconductor Corp Issues Q4 2012 Revenue Guidance

Nov 01, 2012


ON Semiconductor Corp announced that for fourth quarter of 2012, it expects revenues will be approximately $650 to $690 million.

ON Semiconductor Corp Launches Rhythm R3710 Pre-Configured DSP System for Invisible-in-Canal Hearing Aids

Oct 23, 2012


ON Semiconductor Corp announced that it has introduced Rhythm R3710, a new pre-configured Digital Signal Processing (DSP) system designed specifically for Invisible-in-Canal (IIC) hearing aid devices. The Rhythm R3710 hybrid incorporates advanced speech and audio signal processing algorithms and features ON Semiconductor's advanced miniaturized packaging techniques, which enable hearing aid manufacturers to develop discrete products intended to be placed deep in the ear canal. Measuring 4.57 mm x 3.12 mm x 1.52 mm (0.180 x 0.123 x 0.060 in.), the Rhythm R3710 hybrid is 20% smaller than existing Rhythm family hybrids, and is the industry's smallest hybrid form-factor.

 

News

Cypress's CapSense Express controllers used in world's first capacitive-touch-based PIN-pad
Cyber India Online (260 Words)

09-Oct-2013

ON Semiconductor To Eliminate, Voluntarily Retire Up To 910 Employees
RTTNews.com (351 Words)

08-Oct-2013

Touchscreen controller touts superb noise rejection
EE Times India (393 Words)

08-Oct-2013

PERICOM SEMICONDUCTOR : Edward Yang to Depart as Member of Board at Pericom
4 Traders (91 Words)

08-Oct-2013

Chipmaker On Semi to cut up to 870 jobs at Sanyo u
Yahoo! Singapore (167 Words)

08-Oct-2013

Chipmaker On Semiconductor to cut up to 870 jobs at
Yahoo! Singapore (170 Words)

08-Oct-2013

Chipmaker On Semiconductor to cut up to 870 jobs at Sanyo unit (Reuters)
Yahoo! News Australia (34 Words)

08-Oct-2013

Chipmaker On Semi to cut up to 870 jobs at Sanyo unit (Reuters)
Yahoo! News Australia (34 Words)

08-Oct-2013

Chipmaker On Semiconductor to cut up to 870 jobs at Sanyo unit
4 Traders (176 Words)

08-Oct-2013

Chipmaker On Semi to cut up to 870 jobs at Sanyo unit
Yahoo Philippines News (167 Words)

08-Oct-2013

ON SEMICONDUCTOR CORP : Chipmaker On Semiconductor to cut up to 870 jobs at Sanyo unit
4 Traders (176 Words)

08-Oct-2013

 

 

Annual Income Statement

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Restated Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Net Sales

2,894.9

3,442.3

2,313.4

1,768.9

2,054.8

Revenue

2,894.9

3,442.3

2,313.4

1,768.9

2,054.8

Total Revenue

2,894.9

3,442.3

2,313.4

1,768.9

2,054.8

 

 

 

 

 

 

    Cost of Revenue

1,943.0

2,433.5

1,357.4

1,148.2

1,309.3

Cost of Revenue, Total

1,943.0

2,433.5

1,357.4

1,148.2

1,309.3

Gross Profit

951.9

1,008.8

956.0

620.7

745.5

 

 

 

 

 

 

    Selling/General/Administrative Expense

341.5

387.5

275.5

225.4

256.8

Total Selling/General/Administrative Expenses

341.5

387.5

275.5

225.4

256.8

Research & Development

367.5

362.5

248.0

198.8

233.9

    Amortization of Intangibles

44.4

42.7

31.7

29.0

22.9

Depreciation/Amortization

44.4

42.7

31.7

29.0

22.9

    Purchased R&D Written-Off

-

-

0.0

0.0

27.1

    Restructuring Charge

165.3

102.7

10.5

24.9

26.2

    Impairment-Assets Held for Use

49.5

0.0

16.1

0.0

544.5

    Other Unusual Expense (Income)

7.8

23.2

0.7

3.1

-3.8

Unusual Expense (Income)

222.6

125.9

27.3

28.0

594.0

Total Operating Expense

2,919.0

3,352.1

1,939.9

1,629.4

2,416.9

 

 

 

 

 

 

Operating Income

-24.1

90.2

373.5

139.5

-362.1

 

 

 

 

 

 

        Interest Expense - Non-Operating

-56.1

-68.9

-61.4

-64.6

-79.9

    Interest Expense, Net Non-Operating

-56.1

-68.9

-61.4

-64.6

-79.9

        Interest Income - Non-Operating

1.5

1.1

0.5

0.8

6.9

    Interest/Investment Income - Non-Operating

1.5

1.1

0.5

0.8

6.9

Interest Income (Expense) - Net Non-Operating Total

-54.6

-67.8

-60.9

-63.8

-73.0

Gain (Loss) on Sale of Assets

0.0

24.3

0.0

0.0

-

    Other Non-Operating Income (Expense)

5.8

-8.9

-6.9

-4.7

-2.9

Other, Net

5.8

-8.9

-6.9

-4.7

-2.9

Income Before Tax

-72.9

37.8

305.7

71.0

-438.0

 

 

 

 

 

 

Total Income Tax

13.4

22.9

12.8

7.7

-9.4

Income After Tax

-86.3

14.9

292.9

63.3

-428.6

 

 

 

 

 

 

    Minority Interest

-4.3

-3.3

-2.4

-2.3

-0.3

Net Income Before Extraord Items

-90.6

11.6

290.5

61.0

-428.9

Net Income

-90.6

11.6

290.5

61.0

-428.9

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

-90.6

11.6

290.5

61.0

-428.9

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

-90.6

11.6

290.5

61.0

-428.9

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

452.6

446.7

431.0

420.8

379.0

Basic EPS Excl Extraord Items

-0.20

0.03

0.67

0.15

-1.13

Basic/Primary EPS Incl Extraord Items

-0.20

0.03

0.67

0.15

-1.13

Dilution Adjustment

0.0

-

-

0.0

0.0

Diluted Net Income

-90.6

11.6

290.5

61.0

-428.9

Diluted Weighted Average Shares

452.6

457.2

444.4

438.1

379.0

Diluted EPS Excl Extraord Items

-0.20

0.03

0.65

0.14

-1.13

Diluted EPS Incl Extraord Items

-0.20

0.03

0.65

0.14

-1.13

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Interest Expense, Supplemental

56.1

68.9

61.4

64.6

79.9

Depreciation, Supplemental

243.6

186.7

135.2

126.6

119.2

Total Special Items

222.6

92.9

20.4

24.1

586.9

Normalized Income Before Tax

149.7

130.7

326.1

95.1

148.9

 

 

 

 

 

 

Effect of Special Items on Income Taxes

77.9

32.5

0.9

2.6

195.9

Inc Tax Ex Impact of Sp Items

91.3

55.4

13.7

10.3

186.5

Normalized Income After Tax

58.4

75.3

312.4

84.8

-37.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

54.1

72.0

310.0

82.5

-37.9

 

 

 

 

 

 

Basic Normalized EPS

0.12

0.16

0.72

0.20

-0.10

Diluted Normalized EPS

0.12

0.16

0.70

0.19

-0.10

Amort of Intangibles, Supplemental

44.4

42.7

31.7

29.0

22.9

Rental Expenses

24.0

27.7

22.2

20.3

18.7

Research & Development Exp, Supplemental

367.5

362.5

248.0

198.8

233.9

Normalized EBIT

198.5

207.4

393.9

163.6

224.8

Normalized EBITDA

486.5

436.8

560.8

319.2

366.9

    Current Tax - Domestic

0.2

0.5

-0.3

-1.8

-13.7

    Current Tax - Foreign

16.4

25.0

8.4

7.8

10.1

    Current Tax - Local

-0.1

0.3

0.4

0.2

0.3

Current Tax - Total

16.5

25.8

8.5

6.2

-3.3

    Deferred Tax - Domestic

0.0

0.0

-1.2

1.2

0.0

    Deferred Tax - Foreign

-3.1

-2.9

5.5

0.3

-6.1

    Deferred Tax - Local

-

-

-

0.0

0.0

Deferred Tax - Total

-3.1

-2.9

4.3

1.5

-6.1

Income Tax - Total

13.4

22.9

12.8

7.7

-9.4

Actuarial Gains and Losses - Domestic

12.5

-

-

-

-

Domestic Pension Plan Expense

12.5

-

-

-

-

Interest Cost - Foreign

5.3

5.2

3.1

3.6

2.9

Service Cost - Foreign

7.5

9.4

3.8

4.0

3.8

Prior Service Cost - Foreign

0.1

2.6

1.1

-4.9

0.4

Expected Return on Assets - Foreign

-3.5

-4.0

-2.8

-2.6

-2.6

Curtailments & Settlements - Foreign

-6.6

-

-

-

-

Other Pension, Net - Foreign

-

-1.1

0.0

0.3

1.1

Foreign Pension Plan Expense

2.8

12.1

5.2

0.4

5.6

Defined Contribution Expense - Domestic

8.3

8.7

7.9

6.5

7.1

Defined Contribution Expense - Foreign

3.4

2.0

0.4

0.3

0.5

Total Pension Expense

27.0

22.8

13.5

7.2

13.2

Discount Rate - Foreign

2.44%

3.50%

4.65%

5.61%

5.26%

Expected Rate of Return - Foreign

3.21%

4.07%

4.75%

5.16%

5.21%

Compensation Rate - Foreign

3.05%

4.66%

3.87%

4.06%

4.74%

Total Plan Interest Cost

5.3

5.2

3.1

3.6

2.9

Total Plan Service Cost

7.5

9.4

3.8

4.0

3.8

Total Plan Expected Return

-3.5

-4.0

-2.8

-2.6

-2.6

Total Plan Other Expense

-

-1.1

0.0

0.3

1.1

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Reclassified Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Restated Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Cash & Equivalents

486.9

652.9

623.3

525.7

458.7

    Short Term Investments

144.8

248.6

0.0

45.5

-

Cash and Short Term Investments

631.7

901.5

623.3

571.2

458.7

        Accounts Receivable - Trade, Gross

360.5

464.3

301.9

270.2

199.0

        Provision for Doubtful Accounts

-2.7

-7.1

-7.3

-9.3

-10.2

    Trade Accounts Receivable - Net

357.8

457.2

294.6

260.9

188.8

    Other Receivables

34.3

-

-

-

-

Total Receivables, Net

392.1

457.2

294.6

260.9

188.8

    Inventories - Finished Goods

197.6

147.8

100.9

82.9

131.8

    Inventories - Work In Progress

310.9

430.8

210.9

151.6

171.1

    Inventories - Raw Materials

73.2

58.8

49.0

35.4

32.6

Total Inventory

581.7

637.4

360.8

269.9

335.5

Prepaid Expenses

24.3

-

-

-

-

    Deferred Income Tax - Current Asset

10.5

10.0

15.7

15.1

12.0

    Other Current Assets

53.1

121.6

63.6

51.5

55.5

Other Current Assets, Total

63.6

131.6

79.3

66.6

67.5

Total Current Assets

1,693.4

2,127.7

1,358.0

1,168.6

1,050.5

 

 

 

 

 

 

        Buildings

572.4

539.3

484.4

429.7

419.0

        Land/Improvements

67.4

76.6

48.3

42.0

40.2

        Machinery/Equipment

1,979.4

1,943.0

1,631.1

1,420.2

1,415.8

    Property/Plant/Equipment - Gross

2,619.2

2,558.9

2,163.8

1,891.9

1,875.0

    Accumulated Depreciation

-1,515.9

-1,449.4

-1,299.5

-1,186.4

-1,104.2

Property/Plant/Equipment - Net

1,103.3

1,109.5

864.3

705.5

770.8

    Goodwill - Gross

623.4

623.4

615.9

-

-

    Accumulated Goodwill Amortization

-438.8

-424.7

-424.7

-

-

Goodwill, Net

184.6

198.7

191.2

175.4

160.2

    Intangibles - Gross

57.7

508.1

430.1

386.0

378.2

    Accumulated Intangible Amortization

-36.6

-170.9

-127.1

-87.3

-44.8

Intangibles, Net

257.0

337.2

303.0

298.7

333.4

    Deferred Charges

4.1

-

-

-

-

    Deferred Income Tax - Long Term Asset

31.2

34.2

0.0

-

-

    Restricted Cash - Long Term

-

0.0

142.1

5.9

0.0

    Other Long Term Assets

54.8

76.2

60.6

60.2

44.6

Other Long Term Assets, Total

90.1

110.4

202.7

66.1

44.6

Total Assets

3,328.4

3,883.5

2,919.2

2,414.3

2,359.5

 

 

 

 

 

 

Accounts Payable

279.5

451.8

256.9

172.9

178.2

Accrued Expenses

228.9

182.8

110.7

89.7

139.7

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

0.0

Current Portion - Long Term Debt/Capital Leases

353.6

370.1

136.0

205.9

107.9

    Customer Advances

134.5

172.0

149.5

98.8

114.1

    Income Taxes Payable

4.9

7.5

5.1

5.0

4.1

    Deferred Income Tax - Current Liability

22.9

33.6

0.0

-

-

    Other Current Liabilities

-

57.7

52.7

46.7

-

Other Current liabilities, Total

162.3

270.8

207.3

150.5

118.2

Total Current Liabilities

1,024.3

1,275.5

710.9

619.0

544.0

 

 

 

 

 

 

    Long Term Debt

658.3

836.9

752.8

727.6

901.9

Total Long Term Debt

658.3

836.9

752.8

727.6

901.9

Total Debt

1,011.9

1,207.0

888.8

933.5

1,009.8

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

22.9

17.5

18.2

13.8

10.0

Deferred Income Tax

22.9

17.5

18.2

13.8

10.0

Minority Interest

29.6

25.3

22.0

19.6

17.3

    Other Long Term Liabilities

232.2

260.1

49.3

49.3

48.1

Other Liabilities, Total

232.2

260.1

49.3

49.3

48.1

Total Liabilities

1,967.3

2,415.3

1,553.2

1,429.3

1,521.3

 

 

 

 

 

 

    Common Stock

5.1

5.0

4.9

4.7

4.6

Common Stock

5.1

5.0

4.9

4.7

4.6

Additional Paid-In Capital

3,156.4

3,113.5

3,016.1

2,916.6

2,810.7

Retained Earnings (Accumulated Deficit)

-1,292.9

-1,202.3

-1,213.9

-1,504.4

-1,565.4

Treasury Stock - Common

-466.4

-401.3

-382.0

-367.0

-358.1

Unrealized Gain (Loss)

0.4

-

-

-

-

    Translation Adjustment

-42.2

-46.5

-58.8

-64.6

-

    Minimum Pension Liability Adjustment

-0.1

-

-

-

-

    Other Comprehensive Income

0.8

-0.2

-0.3

-0.3

-53.6

Other Equity, Total

-41.5

-46.7

-59.1

-64.9

-53.6

Total Equity

1,361.1

1,468.2

1,366.0

985.0

838.2

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

3,328.4

3,883.5

2,919.2

2,414.3

2,359.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

448.8

451.3

436.8

427.3

411.7

Total Common Shares Outstanding

448.8

451.3

436.8

427.3

411.7

Treasury Shares - Common Stock Primary Issue

61.2

51.2

49.1

47.2

45.9

Employees

20,000

19,442

14,307

12,887

14,172

Number of Common Shareholders

262

285

287

296

311

Accumulated Goodwill Amortization Suppl.

438.8

424.7

424.7

9.8

-

Accumulated Intangible Amort, Suppl.

36.6

170.9

127.1

60.1

28.8

Deferred Revenue - Current

134.5

172.0

149.5

98.8

114.1

Total Long Term Debt, Supplemental

1,043.2

1,262.2

888.8

933.5

-

Long Term Debt Maturing within 1 Year

360.7

378.8

136.0

205.9

-

Long Term Debt Maturing in Year 2

93.1

329.4

220.1

36.2

-

Long Term Debt Maturing in Year 3

71.6

75.2

451.9

114.3

-

Long Term Debt Maturing in Year 4

364.4

63.4

30.5

567.5

-

Long Term Debt Maturing in Year 5

29.1

237.4

3.3

5.9

-

Long Term Debt Maturing in 2-3 Years

164.7

404.6

672.0

150.5

-

Long Term Debt Maturing in 4-5 Years

393.5

300.8

33.8

573.4

-

Long Term Debt Matur. in Year 6 & Beyond

124.3

178.0

47.0

3.7

-

Total Capital Leases, Supplemental

95.8

-

-

-

-

Capital Lease Payments Due in Year 1

43.1

-

-

-

-

Capital Lease Payments Due in Year 2

38.0

-

-

-

-

Capital Lease Payments Due in Year 3

9.7

-

-

-

-

Capital Lease Payments Due in Year 4

2.3

-

-

-

-

Capital Lease Payments Due in Year 5

0.9

-

-

-

-

Capital Lease Payments Due in 2-3 Years

47.7

-

-

-

-

Capital Lease Payments Due in 4-5 Years

3.2

-

-

-

-

Cap. Lease Pymts. Due in Year 6 & Beyond

1.8

-

-

-

-

Total Operating Leases, Supplemental

125.6

93.9

81.7

74.8

71.6

Operating Lease Payments Due in Year 1

23.4

22.0

16.9

20.1

17.6

Operating Lease Payments Due in Year 2

19.1

17.1

14.2

15.9

12.9

Operating Lease Payments Due in Year 3

15.1

14.1

11.2

12.1

10.9

Operating Lease Payments Due in Year 4

13.3

11.7

9.3

8.6

9.3

Operating Lease Payments Due in Year 5

12.1

12.6

17.7

4.8

4.6

Operating Lease Pymts. Due in 2-3 Years

34.2

31.2

25.4

28.0

23.8

Operating Lease Pymts. Due in 4-5 Years

25.4

24.3

27.0

13.4

13.9

Oper. Lse. Pymts. Due in Year 6 & Beyond

42.6

16.4

12.4

13.3

16.3

Pension Obligation - Foreign

379.8

176.4

74.8

68.6

66.6

Plan Assets - Foreign

178.4

105.5

65.9

65.8

62.4

Funded Status - Foreign

-201.4

-70.9

-8.9

-2.8

-4.2

Accumulated Obligation - Foreign

281.2

134.7

56.3

50.2

49.9

Total Funded Status

-201.4

-70.9

-8.9

-2.8

-4.2

Discount Rate - Foreign

2.44%

3.50%

4.65%

5.61%

5.26%

Compensation Rate - Domestic

3.05%

4.66%

3.87%

4.06%

4.74%

Prepaid Benefits - Foreign

0.2

12.4

13.8

16.2

11.9

Intangible Assets - Foreign

201.6

83.3

22.7

19.0

16.1

Other Assets, Net - Foreign

0.1

0.1

0.2

0.3

0.6

Net Assets Recognized on Balance Sheet

201.9

95.8

36.7

35.5

28.6

Equity % - Foreign

0.00%

17.00%

67.00%

3.00%

65.00%

Debt Securities % - Foreign

3.00%

25.00%

9.00%

46.00%

29.00%

Total Plan Obligations

379.8

176.4

74.8

68.6

66.6

Total Plan Assets

178.4

105.5

65.9

65.8

62.4

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Updated Normal
31-Dec-2010

Reclassified Normal
31-Dec-2011

Reclassified Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

Net Income/Starting Line

-86.3

14.9

292.9

63.3

-428.6

    Depreciation

243.6

229.4

166.9

155.6

142.1

Depreciation/Depletion

243.6

229.4

166.9

155.6

142.1

Deferred Taxes

-3.1

-4.2

2.6

0.7

-6.8

    Unusual Items

150.8

52.6

13.8

5.5

547.9

    Purchased R&D

-

-

0.0

-

27.1

    Other Non-Cash Items

96.3

187.6

96.9

113.3

101.0

Non-Cash Items

247.1

240.2

110.7

118.8

676.0

    Accounts Receivable

95.4

89.1

-22.9

-71.5

74.9

    Inventories

-7.1

102.1

-84.0

44.8

40.0

    Other Assets

-9.9

-15.2

-17.1

-18.5

48.3

    Accounts Payable

-161.3

-109.7

26.8

9.8

-69.0

    Accrued Expenses

8.5

-37.5

22.9

-6.7

-58.3

    Taxes Payable

-2.6

2.4

0.0

0.6

0.1

    Other Liabilities

-48.3

34.0

53.0

-17.6

-24.9

Changes in Working Capital

-125.3

65.2

-21.3

-59.1

11.1

Cash from Operating Activities

276.0

545.5

551.8

279.3

393.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-256.3

-316.4

-188.9

-55.3

-95.0

Capital Expenditures

-256.3

-316.4

-188.9

-55.3

-95.0

    Acquisition of Business

0.0

-17.9

-91.0

-16.7

183.1

    Sale of Fixed Assets

6.2

3.3

37.1

-

39.2

    Sale/Maturity of Investment

377.6

-

45.5

-

0.0

    Investment, Net

-

122.2

-

52.4

-

    Purchase of Investments

-273.8

-370.8

0.0

-97.9

0.0

    Other Investing Cash Flow

12.9

155.9

-138.4

-8.8

0.4

Other Investing Cash Flow Items, Total

122.9

-107.3

-146.8

-71.0

222.7

Cash from Investing Activities

-133.4

-423.7

-335.7

-126.3

127.7

 

 

 

 

 

 

    Other Financing Cash Flow

-9.6

-

0.0

-

-1.5

Financing Cash Flow Items

-9.6

-

0.0

-

-1.5

        Sale/Issuance of Common

8.3

8.1

7.0

5.5

5.1

        Repurchase/Retirement of Common

-55.5

-19.3

-15.0

-8.6

-2.9

    Common Stock, Net

-47.2

-11.2

-8.0

-3.1

2.2

    Options Exercised

9.4

59.4

23.3

17.5

15.3

Issuance (Retirement) of Stock, Net

-37.8

48.2

15.3

14.4

17.5

        Long Term Debt Issued

23.6

69.0

152.0

79.5

77.1

        Long Term Debt Reduction

-275.9

-214.4

-286.7

-180.1

-430.2

    Long Term Debt, Net

-252.3

-145.4

-134.7

-100.6

-353.1

Issuance (Retirement) of Debt, Net

-252.3

-145.4

-134.7

-100.6

-353.1

Cash from Financing Activities

-299.7

-97.2

-119.4

-86.2

-337.1

 

 

 

 

 

 

Foreign Exchange Effects

-8.9

5.0

0.9

0.2

-0.3

Net Change in Cash

-166.0

29.6

97.6

67.0

184.1

 

 

 

 

 

 

Net Cash - Beginning Balance

652.9

623.3

525.7

458.7

274.6

Net Cash - Ending Balance

486.9

652.9

623.3

525.7

458.7

Cash Interest Paid

30.4

31.8

23.6

26.7

34.6

Cash Taxes Paid

17.6

20.4

10.6

8.5

3.4

 

 

Annual Income Statement

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Restated Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Revenues

2,894.9

3,442.3

2,313.4

1,768.9

2,054.8

Total Revenue

2,894.9

3,442.3

2,313.4

1,768.9

2,054.8

 

 

 

 

 

 

    Cost of revenues

1,943.0

2,433.5

1,357.4

1,148.2

1,309.3

    Research and development

367.5

362.5

248.0

198.8

233.9

    Selling and marketing

180.9

195.1

145.6

120.9

134.4

    Amortization of acquisition-related inta

44.4

42.7

31.7

29.0

22.9

    In-process Research and Development

-

-

0.0

0.0

27.1

    General and Administrative

160.6

192.4

129.9

104.5

122.4

    Goodwill and intangible asset impairment

49.5

0.0

16.1

0.0

544.5

    Restructuring, asset impairments and oth

165.3

102.7

10.5

24.9

26.2

    Loss on debt repurchase or exchange

7.8

23.2

0.7

3.1

-3.8

Total Operating Expense

2,919.0

3,352.1

1,939.9

1,629.4

2,416.9

 

 

 

 

 

 

    Interest Expense

-56.1

-68.9

-61.4

-64.6

-79.9

    Interest Income

1.5

1.1

0.5

0.8

6.9

    Gain on SANYO Semiconductor acquisition

0.0

24.3

0.0

0.0

-

    Other

5.8

-8.9

-6.9

-4.7

-2.9

Net Income Before Taxes

-72.9

37.8

305.7

71.0

-438.0

 

 

 

 

 

 

Provision for Income Taxes

13.4

22.9

12.8

7.7

-9.4

Net Income After Taxes

-86.3

14.9

292.9

63.3

-428.6

 

 

 

 

 

 

    Minority Interest

-4.3

-3.3

-2.4

-2.3

-0.3

Net Income Before Extra. Items

-90.6

11.6

290.5

61.0

-428.9

Net Income

-90.6

11.6

290.5

61.0

-428.9

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

-90.6

11.6

290.5

61.0

-428.9

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

-90.6

11.6

290.5

61.0

-428.9

 

 

 

 

 

 

Basic Weighted Average Shares

452.6

446.7

431.0

420.8

379.0

Basic EPS Excluding ExtraOrdinary Items

-0.20

0.03

0.67

0.14

-1.13

Basic EPS Including ExtraOrdinary Items

-0.20

0.03

0.67

0.14

-1.13

Dilution Adjustment

0.0

-

-

0.0

0.0

Diluted Net Income

-90.6

11.6

290.5

61.0

-428.9

Diluted Weighted Average Shares

452.6

457.2

444.4

438.1

379.0

Diluted EPS Excluding ExtraOrd Items

-0.20

0.03

0.65

0.14

-1.13

Diluted EPS Including ExtraOrd Items

-0.20

0.03

0.65

0.14

-1.13

DPS-Ordinary Shares

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Taxes

149.7

130.7

326.1

95.1

148.9

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

91.3

55.4

13.7

10.3

186.5

Normalized Income After Taxes

58.4

75.3

312.4

84.8

-37.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

54.1

72.0

310.0

82.5

-37.9

 

 

 

 

 

 

Basic Normalized EPS

0.12

0.16

0.72

0.20

-0.10

Diluted Normalized EPS

0.12

0.16

0.70

0.19

-0.10

Research and development

367.5

362.5

248.0

198.8

233.9

Interest Expense

56.1

68.9

61.4

64.6

79.9

Total Amortization of Intangible Assets

44.4

-

-

-

-

Amort of Intangibles

-

42.7

31.7

29.0

22.9

Rental Expense

24.0

27.7

22.2

20.3

18.7

Depreciation

243.6

186.7

135.2

126.6

119.2

    Current Tax - Domestic

0.2

-

-

-

-

    Current Tax - Federal

-

0.5

-0.3

-1.8

-13.7

    Current Tax - Local

-0.1

-

-

-

-

    Current Tax - Local

-

0.3

0.4

0.2

0.3

    Current Tax - Foreign

16.4

-

-

-

-

    Current Tax- Foreign

-

25.0

8.4

7.8

10.1

Current Tax - Total

16.5

25.8

8.5

6.2

-3.3

    Deferred Tax - Domestic

0.0

-

-

-

-

    Deferred Tax -Federal

-

0.0

-1.2

1.2

0.0

    Deferred Tax -Local

-

-

-

0.0

0.0

    Deferred Tax - Foreign

-3.1

-

-

-

-

    Deferred Tax -Foreign

-

-2.9

5.5

0.3

-6.1

Deferred Tax - Total

-3.1

-2.9

4.3

1.5

-6.1

Income Tax - Total

13.4

22.9

12.8

7.7

-9.4

Actuarial Gains and Losses

12.5

-

-

-

-

Domestic Pension Plan Expense

12.5

-

-

-

-

Service Cost - Foreign

7.5

9.4

3.8

4.0

3.8

Interest Cost - Foreign

5.3

5.2

3.1

3.6

2.9

Expected Return on Assets - Foreign

-3.5

-4.0

-2.8

-2.6

-2.6

Amort. of Prior Service Cost - Foreign

0.1

2.6

1.1

-4.9

0.4

Cumulative effect of accounting - Foreig

-

2.0

0.0

0.0

-

Curtailment Gain - Foreign

-6.6

-

-

-

-

Other Losses/(Gains) - Foreign

-

-3.1

0.0

0.3

1.1

Foreign Pension Plan Expense

2.8

12.1

5.2

0.4

5.6

401(k) Savings Plan

8.3

8.7

7.9

6.5

7.1

Defined Contribution Plans - Foreign

3.4

2.0

0.4

0.3

0.5

Total Pension Expense

27.0

22.8

13.5

7.2

13.2

Discount Rate - Foreign

2.44%

3.50%

4.65%

5.61%

5.26%

Expected Rate of Return - Foreign

3.21%

4.07%

4.75%

5.16%

5.21%

Compensation Rate - Foreign

3.05%

4.66%

3.87%

4.06%

4.74%

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Reclassified Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Restated Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Cash and Cash Equivalents

486.9

652.9

623.3

525.7

458.7

    Short-term investments

144.8

248.6

0.0

45.5

-

    Receivables, net

360.5

464.3

301.9

270.2

199.0

    Provision for Doubtful Debts

-2.7

-7.1

-7.3

-9.3

-10.2

    Raw Materials

73.2

58.8

49.0

35.4

32.6

    Work In Progress

310.9

430.8

210.9

151.6

171.1

    Finished Goods

197.6

147.8

100.9

82.9

131.8

    Other Other current assets

53.1

-

-

-

-

    Other Current

-

121.6

63.6

51.5

55.5

    Deferred income taxes

10.5

10.0

15.7

15.1

12.0

    Other Receivables, Net

34.3

-

-

-

-

    Prepaid Expenses

24.3

-

-

-

-

Total Current Assets

1,693.4

2,127.7

1,358.0

1,168.6

1,050.5

 

 

 

 

 

 

    Restricted Cash

-

0.0

142.1

5.9

0.0

    Land

67.4

76.6

48.3

42.0

40.2

    Buildings

572.4

539.3

484.4

429.7

419.0

    Machinery/Equipments

1,979.4

1,943.0

1,631.1

1,420.2

1,415.8

    Depreciation

-1,515.9

-1,449.4

-1,299.5

-1,186.4

-1,104.2

    Deferred income taxes

31.2

34.2

0.0

-

-

    Goodwill

-

-

-

175.4

160.2

    Goodwill / Intangibles

623.4

623.4

615.9

-

-

    Accumulated amortization Goodwill

-9.8

-9.8

-9.8

-

-

    Accumulated Impairment Loss Goodwill

-429.0

-414.9

-414.9

-

-

    Brand/Patent/Market/ArtisticIntangible,G

43.7

-

-

-

-

    Brand/Patent/Market/ArtisticIntangible

14.0

-

-

-

-

    Intellectual Property

-

13.9

13.9

13.9

13.9

    Assembled Workforce

-

6.7

6.7

6.7

6.7

    Customer relationships

-

280.3

250.5

244.8

241.3

    Non compete agreements

-

-

-

0.5

0.5

    Patents

-

43.7

16.7

16.7

16.7

    Developed technology

-

145.6

113.0

89.4

87.1

    Trademarks

-

14.0

11.0

11.0

11.0

    In-process research and development

-

3.1

18.3

2.0

-

    Backlog

-

0.8

-

-

-

    Acqired software

-

-

-

1.0

1.0

    AccAmort Brand/Patent/Market/Art Intang.

-16.6

-

-

-

-

    AccAmort Brand/Patent/Market/Art Inta

-5.2

-

-

-

-

    AccAmort Brand/Patent/Market/Art Intan

-13.7

-

-

-

-

    AccAmort Brand/Patent/Market/Art

-1.1

-

-

-

-

    Accumulated Intangible Amortization

-

-163.2

-119.9

-87.3

-44.8

    Impairment

-

-7.7

-7.2

-

-

    Other Intangible assets, net

235.9

-

-

-

-

    derivatives

3.2

-

-

-

-

    Other Other Assets

51.6

-

-

-

-

    Other Assets

-

76.2

60.6

60.2

44.6

    debt issuance cost

4.1

-

-

-

-

Total Assets

3,328.4

3,883.5

2,919.2

2,414.3

2,359.5

 

 

 

 

 

 

    Accounts Payable

279.5

451.8

256.9

172.9

178.2

    Accrued payroll

102.9

-

-

-

-

    Accrued pension liability

7.4

-

-

-

-

    Other Accrued expenses

118.0

-

-

-

-

    Accrued expenses

-

-

-

-

138.4

    Accrued payroll

-

125.2

73.1

55.9

-

    Sales related reserves

-

45.5

36.5

32.7

-

    Restructuring reserves

-

17.3

11.3

13.6

-

    Accrued pension liability

-

11.4

0.3

0.2

-

    Other

-

40.4

41.4

33.1

-

    Income taxes payable

4.9

7.5

5.1

5.0

4.1

    Accrued Interest

0.6

0.7

0.8

0.9

1.3

    Deferred income taxes, net of allowances

22.9

33.6

0.0

-

-

    Deferred income on sales to distributors

134.5

172.0

149.5

98.8

114.1

    Current portion of long-term debt

353.6

370.1

136.0

205.9

107.9

Total Current Liabilities

1,024.3

1,275.5

710.9

619.0

544.0

 

 

 

 

 

 

    Long-term debt

658.3

836.9

752.8

727.6

901.9

Total Long Term Debt

658.3

836.9

752.8

727.6

901.9

 

 

 

 

 

 

    Other long-term liabilities

232.2

260.1

49.3

49.3

48.1

    Deferred Taxes

22.9

17.5

18.2

13.8

10.0

    Non-controlling interest in consolidated

29.6

25.3

22.0

19.6

17.3

Total Liabilities

1,967.3

2,415.3

1,553.2

1,429.3

1,521.3

 

 

 

 

 

 

    Unrealized (gain) or loss on available f

0.4

-

-

-

-

    Unrecognized prior service cost of defin

-0.1

-

-

-

-

    Common stock ($0.01 par value, 750,000,0

5.1

5.0

4.9

4.7

4.6

    Additional paid-in capital

3,156.4

3,113.5

3,016.1

2,916.6

2,810.7

    treasury stock, at cost; 61,153,654 and

-466.4

-401.3

-382.0

-367.0

-358.1

    Accum. Foreign Currency Translation Adj

-42.2

-

-

-

-

    Foreign currency translation adjustments

-

-46.5

-58.8

-64.6

-

    Pension Liabilities- Comp. Income

0.8

-

-

-

-

    Unrecognized prior service cost of defin

-

-0.2

-0.1

-0.1

-

    Prior service cost from pension legal pl

-

0.0

-0.2

-0.2

-

    Other Income

-

-

-

-

-53.6

    Accumulated deficit

-1,292.9

-1,202.3

-1,213.9

-1,504.4

-1,565.4

Total Equity

1,361.1

1,468.2

1,366.0

985.0

838.2

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

3,328.4

3,883.5

2,919.2

2,414.3

2,359.5

 

 

 

 

 

 

    S/O-Ordinary Shares

448.8

451.3

436.8

427.3

411.7

Total Common Shares Outstanding

448.8

451.3

436.8

427.3

411.7

T/S-Ordinary Shares

61.2

51.2

49.1

47.2

45.9

Deferred income on sales to distributors

134.5

172.0

149.5

98.8

114.1

Accumulated amortization Goodwill

9.8

-

-

-

-

Accumulated Impairment Loss Goodwill

429.0

-

-

-

-

Accumulated Goodwill Amortization

-

9.8

9.8

9.8

-

Accumulated Impairment

-

414.9

414.9

-

-

AccAmort Brand/Patent/Market/Art Intang.

16.6

-

-

-

-

AccAmort Brand/Patent/Market/Art Inta

5.2

-

-

-

-

AccAmort Brand/Patent/Market/Art Intan

13.7

-

-

-

-

AccAmort Brand/Patent/Market/Art

1.1

-

-

-

-

Intangible Impairment

-

7.7

7.2

-

-

Accumulated Intangible Amortization

-

163.2

119.9

60.1

28.8

Full-Time Employees

20,000

19,442

14,307

12,887

14,172

Number of Common Shareholders

262

285

287

296

311

Long Term Debt Maturing Within 1 Year

360.7

378.8

136.0

205.9

-

Long Term Debt Maturing Within 2 Years

93.1

329.4

220.1

36.2

-

Long Term Debt Maturing Within 3 Years

71.6

75.2

451.9

114.3

-

Long Term Debt Maturing Within 4 Years

364.4

63.4

30.5

567.5

-

Long Term Debt Maturing Within 5 Years

29.1

237.4

3.3

5.9

-

Long Term Debt Maturing After 5 Years

124.3

178.0

47.0

3.7

-

Total Long Term Debt, Supplemental

1,043.2

1,262.2

888.8

933.5

-

Capital Lease Payments Due within 1 Year

43.1

-

-

-

-

Capital Lease Payments Due in Year 3

9.7

-

-

-

-

Capital Lease Payments Due in Year 2

38.0

-

-

-

-

Capital Leases - Remaining Maturities

1.8

-

-

-

-

Capital Lease Payments Due in Year 5

0.9

-

-

-

-

Capital Lease Payments Due in Year 4

2.3

-

-

-

-

Total Capital Leases, Supplemental

95.8

-

-

-

-

Operating Lease Maturing Within 1 Year

23.4

22.0

16.9

20.1

17.6

Operating Lease Maturing Within 2 Years

19.1

17.1

14.2

15.9

12.9

Operating Lease Maturing Within 3 Years

15.1

14.1

11.2

12.1

10.9

Operating Lease Maturing Within 4 Years

13.3

11.7

9.3

8.6

9.3

Operating Lease Maturing Within 5 Years

12.1

12.6

17.7

4.8

4.6

Operating Lease Maturing After 5 Years

42.6

16.4

12.4

13.3

16.3

Total Operating Leases, Supplemental

125.6

93.9

81.7

74.8

71.6

Projected Benefit Obligation - Foreign

379.8

176.4

74.8

68.6

66.6

FV of Plan Assets - Foreign

178.4

105.5

65.9

65.8

62.4

Funded Status - Foreign

-201.4

-70.9

-8.9

-2.8

-4.2

Accumulated Benefit Obligation - Foreign

281.2

134.7

56.3

50.2

49.9

Total Funded Status

-201.4

-70.9

-8.9

-2.8

-4.2

Discount Rate - Foreign

2.44%

3.50%

4.65%

5.61%

5.26%

Compensation Rate - Foreign

3.05%

4.66%

3.87%

4.06%

4.74%

Noncurrent assets - Foreign

0.2

12.4

13.8

16.2

11.9

Current Liabilities - Foreign

7.4

11.4

0.2

0.3

0.3

Non-Current Liabilities - Foreign

194.2

71.9

22.5

18.7

15.8

AOCI-Prior Service Cost - Foreign

0.1

0.1

0.2

0.3

0.6

Net Assets Recognized on Balance Sheet

201.9

95.8

36.7

35.5

28.6

Equity Securities % - Foreign

0.00%

17.00%

67.00%

3.00%

65.00%

Debt Securities % - Foreign

3.00%

25.00%

9.00%

46.00%

29.00%

Other Investments % - Foreign

35.00%

56.00%

24.00%

2.00%

6.00%

Cash

62.00%

2.00%

0.00%

49.00%

0.00%

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Updated Normal
31-Dec-2010

Reclassified Normal
31-Dec-2011

Reclassified Normal
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

Net Income

-86.3

14.9

292.9

63.3

-428.6

    Depreciation

243.6

229.4

166.9

155.6

142.1

    Non-cash manufacturing expenses associat

-9.5

-8.7

-6.9

-3.9

-7.1

    Provision for excess inventories

51.9

-

-

-

-

    Non-cash manufacturing expenses a

0.0

80.4

0.0

-

-

    Loss on debt repurchase or exchange

7.8

-

-

-

-

    Non-cash goodwill and intangible asset i

49.5

-

-

-

-

    Gain on acquisition of SANYO Semiconduct

-

-24.3

0.0

-

-

    Non cash portion of (gain) loss on debt

-

23.2

0.7

3.1

-3.8

    Amortization of debt issuance costs

2.1

2.3

2.5

3.1

4.0

    SANYO Semiconductor inventory item

-

49.1

10.0

20.4

19.8

    Non-cash asset impairment charges

103.0

86.3

3.9

6.3

14.3

    Non cash write off of in process researc

-

-

0.0

-

27.1

    Stock Compensation Expense

20.5

33.5

52.5

54.2

33.2

    Non-cash portion of insurance gain

-

-23.9

0.0

-

-

    Recovery from insurance proceeds on prop

-

-13.3

0.0

-

-

    Non-cash goodwill and intangible asset i

-

0.0

16.1

0.0

544.5

    Non-cash interest on convertible notes

23.4

34.9

33.7

34.9

41.6

    Deferred income taxes

-3.1

-4.2

2.6

0.7

-6.8

    Other

-1.6

0.7

-1.8

0.7

2.4

    Proceeds from termination of interest ra

-

-

-

-

0.0

    Receivables

95.4

89.1

-22.9

-71.5

74.9

    Inventories

-7.1

102.1

-84.0

44.8

40.0

    Other Assets

-9.9

-15.2

-17.1

-18.5

48.3

    Accounts Payable

-161.3

-109.7

26.8

9.8

-69.0

    Accrued Expenses

8.6

-37.4

23.0

-6.3

-58.2

    Income taxes payable

-2.6

2.4

0.0

0.6

0.1

    Accrued Interest

-0.1

-0.1

-0.1

-0.4

-0.1

    Deferred income on sales to distributors

-37.5

22.5

50.7

-15.4

-11.3

    Other Long Term Liabilities

-10.8

11.5

2.3

-2.2

-13.6

Cash from Operating Activities

276.0

545.5

551.8

279.3

393.8

 

 

 

 

 

 

    Purchases of property, plant and equipme

-256.3

-316.4

-188.9

-55.3

-95.0

    Deposits utilized for purchases of prope

1.4

-

-

-

-

    Deposit for Capital Expenditure

-

0.5

-2.2

0.3

0.4

    Purchase of Investment Securities - Uncl

-273.8

-

-

-

-

    Purchase of held-to-maturity securities

-

-370.8

0.0

-97.9

0.0

    Proceeds from held-to-maturity securitie

377.6

-

-

-

-

    Sale of Held to Maturity Securities

-

-

45.5

-

0.0

    Proceeds from sales of property, plant a

6.2

3.3

37.1

-

39.2

    Purchases of businesses net of cash acq

0.0

-

-

-

-

    Purchase of a business

-

-17.9

-91.0

-16.7

183.1

    Restricted cash

-

142.1

-136.2

-5.9

0.0

    Purchase Available for Sale Securities

-

122.2

-

52.4

-

    Sale of Assets

-

-

-

-3.2

-

    Purchases of non marketable securities

-

-

-

-

0.0

    Recovery from insurance on property, pla

11.5

13.3

-

0.0

-

Cash from Investing Activities

-133.4

-423.7

-335.7

-126.3

127.7

 

 

 

 

 

 

    Proceeds from debt issuance

23.6

69.0

152.0

79.5

77.1

    Proceeds from issuance of common stock u

8.3

8.1

7.0

5.5

5.1

    Proceeds from exercise of stock options

9.4

59.4

23.3

17.5

15.3

    Minority Dividend

-

-

0.0

-

-1.5

    Payment of capital lease obligations

-40.8

-39.0

-32.3

-29.5

-27.3

    Repurchase of 2.625% convertible senior

-

-56.2

0.0

0.0

-

    Payments made in connection with repurch

-2.6

-15.9

0.0

0.0

-

    Repurchase of common stock

-55.5

-19.3

-15.0

-8.6

-2.9

    Repayment of long-term debt

-232.5

-103.3

-254.4

-150.6

-402.9

    Debt Issuance Costs

-

-

-

-

0.0

    Payments of tax withholding for restrict

-9.6

-

-

-

-

Cash from Financing Activities

-299.7

-97.2

-119.4

-86.2

-337.1

 

 

 

 

 

 

Foreign Exchange Effects

-8.9

5.0

0.9

0.2

-0.3

Net Change in Cash

-166.0

29.6

97.6

67.0

184.1

 

 

 

 

 

 

Net Cash - Beginning Balance

652.9

623.3

525.7

458.7

274.6

Net Cash - Ending Balance

486.9

652.9

623.3

525.7

458.7

    Cash Interest Paid

30.4

31.8

23.6

26.7

34.6

    Cash Taxes Paid

17.6

20.4

10.6

8.5

3.4

 

 

Financial Health

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

Key Indicators USD (mil)

 

Quarter
Ending
28-Jun-2013

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2012

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue (?)

688.3

-7.59%

2,894.9

-15.90%

17.84%

13.07%

Research & Development (?)

81.4

-16.77%

367.5

1.38%

22.73%

22.54%

Operating Income (?)

50.9

89.22%

-24.1

-

-

-

Income Available to Common Excl Extraord Items (?)

47.7

591.30%

-90.6

-

-

-

Basic EPS Excl Extraord Items (?)

0.11

596.05%

-0.20

-

-

-

Capital Expenditures (?)

84.7

-26.16%

256.3

-18.99%

66.73%

12.74%

Cash from Operating Activities (?)

140.4

10.12%

276.0

-49.40%

-0.40%

-2.74%

Free Cash Flow (?)

55.7

335.16%

19.7

-91.40%

-55.53%

-35.49%

Total Assets (?)

3,241.4

-14.04%

3,328.4

-14.29%

11.30%

15.24%

Total Liabilities (?)

1,807.4

-19.80%

1,967.3

-18.55%

11.24%

3.94%

Total Long Term Debt (?)

686.3

-14.75%

658.3

-21.34%

-3.28%

-10.22%

Employees (?)

-

-

20000

2.87%

15.78%

11.40%

Total Common Shares Outstanding (?)

449.8

-1.17%

448.8

-0.55%

1.66%

8.93%

Market Cap (?)

3,634.5

12.48%

3,164.2

-9.18%

-5.66%

4.02%

Utility Industry Specific USD (mil)

 

31-Dec-2012

 

 

 

 

 

Deferred Charges (?)

4.1

 

 

 

 

 

Key Ratios

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Profitability

Gross Margin (?)

32.88%

29.31%

41.32%

35.09%

36.28%

Operating Margin (?)

-0.83%

2.62%

16.15%

7.89%

-17.62%

Pretax Margin (?)

-2.52%

1.10%

13.21%

4.01%

-21.32%

Net Profit Margin (?)

-3.13%

0.34%

12.56%

3.45%

-20.87%

Financial Strength

Current Ratio (?)

1.65

1.67

1.91

1.89

1.93

Long Term Debt/Equity (?)

0.48

0.57

0.55

0.74

1.08

Total Debt/Equity (?)

0.74

0.82

0.65

0.95

1.20

Management Effectiveness

Return on Assets (?)

-2.39%

0.44%

10.98%

2.65%

-21.45%

Return on Equity (?)

-6.40%

0.82%

24.71%

6.69%

-100.43%

Efficiency

Receivables Turnover (?)

6.82

9.16

8.33

7.87

11.29

Inventory Turnover (?)

3.19

4.88

4.30

3.79

4.71

Asset Turnover (?)

0.80

1.01

0.87

0.74

1.03

Market Valuation USD (mil)

Enterprise Value (?)

3,645.0

.

Price/Sales (TTM) (?)

1.19

Enterprise Value/Revenue (TTM) (?)

1.32

.

Price/Book (MRQ) (?)

2.28

Enterprise Value/EBITDA (TTM) (?)

8.94

.

Market Cap (?)

3,275.1

 

 

Ratio Comparisons

 

Traded: NASDAQ: ONNN

Financials in: USD (actual units)

Industry: Semiconductors

As of 27-Sep-2013

Sector: Technology

 

 

 

Company

Industry

Sector

S&P 500

Valuation Ratios

P/E Excluding Extraordinary (TTM) (?)

-

19.99

22.09

19.68

P/E High Excluding Extraordinary - Last 5 Yrs (?)

304.30

36.86

42.91

32.79

P/E Low Excluding Extraordinary - Last 5 Yrs (?)

15.11

12.99

12.36

10.71

Beta (?)

1.64

1.28

1.19

1.00

Price/Revenue (TTM) (?)

1.19

3.44

4.07

2.57

Price/Book (MRQ) (?)

2.28

3.87

4.73

3.67

Price to Tangible Book (MRQ) (?)

3.24

4.36

6.85

5.21

Price to Cash Flow Per Share (TTM) (?)

17.66

15.83

17.48

14.22

Price to Free Cash Flow Per Share (TTM) (?)

52.32

26.54

23.00

26.26

 

 

 

 

 

Dividends

Dividend Yield (?)

-

2.44%

1.65%

2.26%

Dividend Per Share - 5 Yr Avg (?)

0.00

1.35

0.71

1.99

Dividend 5 Yr Growth (?)

-

21.22%

7.13%

0.08%

Payout Ratio (TTM) (?)

-

18.90%

10.38%

25.98%

 

 

 

 

 

Growth Rates (%)

Revenue (MRQ) vs Qtr 1 Yr Ago (?)

-7.59%

32.22%

28.50%

15.58%

Revenue (TTM) vs TTM 1 Yr Ago (?)

-12.68%

40.54%

18.25%

17.69%

Revenue 5 Yr Growth (?)

13.07%

11.04%

16.94%

8.97%

EPS (MRQ) vs Qtr 1 Yr Ago (?)

597.81%

50.47%

41.24%

19.49%

EPS (TTM) vs TTM 1 Yr Ago (?)

-135.15%

130.87%

49.53%

32.55%

EPS 5 Yr Growth (?)

-

7.09%

20.44%

9.86%

Capital Spending 5 Yr Growth (?)

12.74%

-26.65%

9.78%

-2.04%

 

 

 

 

 

Financial Strength

Quick Ratio (MRQ) (?)

1.21

3.02

1.98

1.24

Current Ratio (MRQ) (?)

1.85

3.90

2.38

1.79

LT Debt/Equity (MRQ) (?)

0.48

0.19

0.31

0.64

Total Debt/Equity (MRQ) (?)

0.64

0.21

0.36

0.73

Interest Coverage (TTM) (?)

6.56

11.34

11.30

13.80

 

 

 

 

 

Profitability Ratios (%)

Gross Margin (TTM) (?)

32.11%

54.52%

55.32%

45.21%

Gross Margin - 5 Yr Avg (?)

34.33%

49.69%

53.24%

44.91%

EBITD Margin (TTM) (?)

14.79%

27.82%

25.78%

24.43%

EBITD Margin - 5 Yr Avg (?)

17.40%

18.02%

21.39%

22.84%

Operating Margin (TTM) (?)

-0.33%

24.80%

22.29%

20.63%

Operating Margin - 5 Yr Avg (?)

1.74%

13.57%

17.62%

18.28%

Pretax Margin (TTM) (?)

-1.80%

24.89%

22.54%

17.95%

Pretax Margin - 5 Yr Avg (?)

-0.77%

14.88%

18.75%

17.10%

Net Profit Margin (TTM) (?)

-1.87%

19.30%

17.35%

13.65%

Net Profit Margin - 5 Yr Avg (?)

-1.15%

10.91%

12.72%

12.10%

Effective Tax Rate (TTM) (?)

-

21.71%

23.73%

28.45%

Effective Tax rate - 5 Yr Avg (?)

-

23.58%

24.82%

29.92%

 

 

 

 

 

Management Effectiveness (%)

Return on Assets (TTM) (?)

-1.47%

15.21%

12.89%

8.54%

Return on Assets - 5 Yr Avg (?)

-1.02%

8.48%

10.70%

8.40%

Return on Investment (TTM) (?)

-2.09%

15.22%

13.09%

7.90%

Return on Investment - 5 Yr Avg (?)

-1.43%

8.60%

11.50%

8.27%

Return on Equity (TTM) (?)

-3.75%

21.72%

25.23%

19.72%

Return on Equity - 5 Yr Avg (?)

-2.93%

11.50%

21.05%

20.06%

 

 

 

 

 

Efficiency

Revenue/Employee (TTM) (?)

137,750.00

514,699.51

617,868.03

927,613.77

Net Income/Employee (TTM) (?)

-2,575.00

106,063.20

132,630.14

116,121.92

Receivables Turnover (TTM) (?)

6.50

10.12

8.08

13.25

Inventory Turnover (TTM) (?)

3.07

5.67

19.61

14.53

Asset Turnover (TTM) (?)

0.79

0.82

0.75

0.93

 

 

Annual Ratios

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 



 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Financial Strength

Current Ratio (?)

1.65

1.67

1.91

1.89

1.93

Quick/Acid Test Ratio (?)

1.00

1.07

1.29

1.34

1.19

Working Capital (?)

669.1

852.2

647.1

549.6

506.5

Long Term Debt/Equity (?)

0.48

0.57

0.55

0.74

1.08

Total Debt/Equity (?)

0.74

0.82

0.65

0.95

1.20

Long Term Debt/Total Capital (?)

0.28

0.31

0.33

0.38

0.49

Total Debt/Total Capital (?)

0.43

0.45

0.39

0.49

0.55

Payout Ratio (?)

0.00%

0.00%

0.00%

0.00%

0.00%

Effective Tax Rate (?)

-

60.58%

4.19%

10.85%

-

Total Capital (?)

2,373.0

2,675.2

2,254.8

1,918.5

1,848.0

 

 

 

 

 

 

Efficiency

Asset Turnover (?)

0.80

1.01

0.87

0.74

1.03

Inventory Turnover (?)

3.19

4.88

4.30

3.79

4.71

Days In Inventory (?)

114.51

74.86

84.80

96.23

77.50

Receivables Turnover (?)

6.82

9.16

8.33

7.87

11.29

Days Receivables Outstanding (?)

53.54

39.86

43.82

46.40

32.33

Revenue/Employee (?)

144,745

177,055

161,697

137,262

144,990

Operating Income/Employee (?)

-1,205

4,639

26,106

10,825

-25,550

EBITDA/Employee (?)

13,195

16,439

37,772

22,899

-15,524

 

 

 

 

 

 

Profitability

Gross Margin (?)

32.88%

29.31%

41.32%

35.09%

36.28%

Operating Margin (?)

-0.83%

2.62%

16.15%

7.89%

-17.62%

EBITDA Margin (?)

9.12%

9.28%

23.36%

16.68%

-10.71%

EBIT Margin (?)

-0.83%

2.62%

16.15%

7.89%

-17.62%

Pretax Margin (?)

-2.52%

1.10%

13.21%

4.01%

-21.32%

Net Profit Margin (?)

-3.13%

0.34%

12.56%

3.45%

-20.87%

R&D Expense/Revenue (?)

12.69%

10.53%

10.72%

11.24%

11.38%

COGS/Revenue (?)

67.12%

70.69%

58.68%

64.91%

63.72%

SG&A Expense/Revenue (?)

11.80%

11.26%

11.91%

12.74%

12.50%

 

 

 

 

 

 

Management Effectiveness

Return on Assets (?)

-2.39%

0.44%

10.98%

2.65%

-21.45%

Return on Equity (?)

-6.40%

0.82%

24.71%

6.69%

-100.43%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share (?)

0.04

0.51

0.83

0.52

0.73

Operating Cash Flow/Share  (?)

0.61

1.21

1.26

0.65

0.96

 

Current Market Multiples

Market Cap/Earnings (TTM) (?)

-58.08

Market Cap/Equity (MRQ) (?)

2.28

Market Cap/Revenue (TTM) (?)

1.19

Market Cap/EBIT (TTM) (?)

19.20

Market Cap/EBITDA (TTM) (?)

8.04

Enterprise Value/Earnings (TTM) (?)

-64.64

Enterprise Value/Equity (MRQ) (?)

2.54

Enterprise Value/Revenue (TTM) (?)

1.32

Enterprise Value/EBIT (TTM) (?)

21.37

Enterprise Value/EBITDA (TTM) (?)

8.94

 

 

Stock Report

 

Stock Snapshot    

 

Traded: NASDAQ: ONNN  

As of 27-Sep-2013    US Dollars

Recent Price

$7.28

 

EPS

$0.12

52 Week High

$8.73

 

Price/Sales

1.13

52 Week Low

$5.70

 

Price/Book

2.40

Avg. Volume (mil)

4.66

 

Beta

1.64

Market Value (mil)

$3,275.05

 

 

 

 

Price % Change

Rel S&P 500%

4 Week

0.55%

-2.94%

13 Week

-9.90%

-14.45%

52 Week

17.61%

0.61%

Year to Date

3.26%

-12.95%

 

 

 

Stock History    

 

 

Market Cap History

 

28-Jun-13

% Chg

29-Mar-13

% Chg

31-Dec-12

% Chg

28-Sep-12

% Chg

29-Jun-12

% Chg

Total Common Shares Outstanding

450

-0.1

450

0.3

449

-0.6

452

-0.8

455

0.3

Market Cap

3,634.5

-2.5

3,726.3

17.8

3,164.2

13.4

2,789.1

-13.7

3,231.3

-20.9

Yearly Price History

 

2013

% Chg

2012

% Chg

2011

% Chg

2010

% Chg

2009

% Chg

High Price

8.73

-11.4

9.85

-17.6

11.95

19.9

9.97

9.3

9.12

-15.9

Low Price

7.16

25.7

5.70

-12.8

6.53

7.6

6.07

91.5

3.17

34.9

Year End Price

7.28

3.3

7.05

-8.7

7.72

-21.9

9.88

12.0

8.82

159.4

Monthly Price History

Price Ending Date

Open

High

Low

Close

Volume

 

27-Sep-13

7.31

7.69

7.21

7.28

88,742,769

 

30-Aug-13

8.30

8.50

7.16

7.24

108,766,006

 

31-Jul-13

8.16

8.38

7.83

8.25

96,197,956

 

28-Jun-13

8.56

8.73

7.58

8.08

140,053,677

 

31-May-13

7.83

8.67

7.69

8.56

141,698,779

 

30-Apr-13

8.25

8.62

7.18

7.86

179,964,357

 

28-Mar-13

7.95

8.46

7.74

8.28

147,976,248

 

28-Feb-13

8.04

8.71

7.77

8.01

150,017,435

 

31-Jan-13

7.25

8.07

7.20

7.86

152,663,819

 

31-Dec-12

6.73

7.11

6.57

7.05

107,418,330

 

30-Nov-12

6.16

6.81

5.70

6.62

159,694,121

 

31-Oct-12

6.19

6.40

5.84

6.15

139,758,057

 

28-Sep-12

6.19

6.95

6.00

6.18

150,581,007

 

 


Standard & Poors

United States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative

Publication date: 05-Aug-2011 20:13:14 EST


 

  • We have lowered our long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term rating.

         We have also removed both the short- and long-term ratings from CreditWatch negative.

         The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics.

         More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.

         Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.

         The outlook on the long-term rating is negative. We could lower the long-term rating to 'AA' within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.

TORONTO (Standard & Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it lowered its long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the long-term rating is negative. At the same time, Standard & Poor's affirmed its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's removed both ratings from CreditWatch, where they were placed on July 14, 2011, with negative implications.

 

The transfer and convertibility (T&C) assessment of the U.S.--our assessment of the likelihood of official interference in the ability of U.S.-based public- and private-sector issuers to secure foreign exchange for

debt service--remains 'AAA'.

 

We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.

 

Our lowering of the rating was prompted by our view on the rising public debt burden and our perception of greater policymaking uncertainty, consistent with our criteria (see "Sovereign Government Rating Methodology and Assumptions ," June 30, 2011, especially Paragraphs 36-41). Nevertheless, we view the U.S. federal government's other economic, external, and monetary credit attributes, which form the basis for the sovereign rating, as broadly unchanged.

 

We have taken the ratings off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment of 2011 has removed any perceived immediate threat of payment default posed by delays to raising the government's debt ceiling. In addition, we believe that the act provides sufficient clarity to allow us to evaluate the likely course of U.S. fiscal policy for the next few years.

 

The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements,

the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.

 

Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden in a manner consistent with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign Government Rating Methodology and Assumptions," June 30, 2011, especially Paragraphs 36-41). In our view, the difficulty in framing a consensus on fiscal policy weakens the government's ability to manage public finances and diverts attention from the debate over how to achieve more balanced and dynamic economic growth in an era of fiscal stringency and private-sector deleveraging (ibid). A new political consensus might (or might not) emerge after the 2012 elections, but we believe that by then, the government debt burden will likely be higher, the needed medium-term fiscal adjustment potentially greater, and the inflection point on the U.S. population's demographics and other age-related spending drivers closer at hand (see "Global Aging 2011: In The U.S., Going Gray Will Likely Cost Even More Green, Now," June 21, 2011).

 

Standard & Poor's takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.'s finances on a sustainable footing.

 

The act calls for as much as $2.4 trillion of reductions in expenditure growth over the 10 years through 2021. These cuts will be implemented in two steps: the $917 billion agreed to initially, followed by an additional $1.5 trillion that the newly formed Congressional Joint Select Committee on Deficit Reduction is supposed to recommend by November 2011. The act contains no measures to raise taxes or otherwise enhance revenues, though the committee could recommend them.

 

The act further provides that if Congress does not enact the committee's recommendations, cuts of $1.2 trillion will be implemented over the same time period. The reductions would mainly affect outlays for civilian discretionary spending, defense, and Medicare. We understand that this fall-back mechanism is designed to encourage Congress to embrace a more balanced mix of expenditure savings, as the committee might recommend.

 

We note that in a letter to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated total budgetary savings under the act to be at least $2.1 trillion over the next 10 years relative to its baseline assumptions. In updating our own fiscal projections, with certain modifications outlined below, we have relied on the CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to include the CBO assumptions contained in its Aug. 1 letter to Congress. In general, the CBO's "Alternate Fiscal Scenario" assumes a continuation of recent Congressional action overriding existing law.

 

We view the act's measures as a step toward fiscal consolidation. However, this is within the framework of a legislative mechanism that leaves open the details of what is finally agreed to until the end of 2011, and Congress and the Administration could modify any agreement in the future. Even assuming that at least $2.1 trillion of the spending reductions the act envisages are implemented, we maintain our view that the U.S. net general government debt burden (all levels of government combined, excluding liquid financial assets) will likely continue to grow. Under our revised base case fiscal scenario--which we consider to be consistent with a 'AA+' long-term rating and a negative outlook--we now project that net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of sovereign indebtedness is high in relation to those of peer credits and, as noted, would continue to rise under the act's revised policy settings.

 

Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.

 

Our revised upside scenario--which, other things being equal, we view as consistent with the outlook on the 'AA+' long-term rating being revised to stable--retains these same macroeconomic assumptions. In addition, it incorporates $950 billion of new revenues on the assumption that the 2001 and 2003 tax cuts for high earners lapse from 2013 onwards, as the Administration is advocating. In this scenario, we project that the net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.

 

Our revised downside scenario--which, other things being equal, we view as being consistent with a possible further downgrade to a 'AA' long-term rating--features less-favorable macroeconomic assumptions, as outlined below and also assumes that the second round of spending cuts (at least $1.2 trillion) that the act calls for does not occur. This scenario also assumes somewhat higher nominal interest rates for U.S. Treasuries. We still believe that the role of the U.S. dollar as the key reserve currency confers a government funding advantage, one that could change only slowly over time, and that Fed policy might lean toward continued loose monetary policy at a time of fiscal tightening. Nonetheless, it is possible that interest rates could rise if investors re-price relative risks. As a result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in 10-year bond yields relative to the base and upside cases from 2013 onwards. In this scenario, we project the net public debt burden would rise from 74% of GDP in 2011 to 90% in 2015 and to 101% by 2021.

 

Our revised scenarios also take into account the significant negative revisions to historical GDP data that the Bureau of Economic Analysis announced on July 29. From our perspective, the effect of these revisions underscores two related points when evaluating the likely debt trajectory of the U.S. government. First, the revisions show that the recent recession was deeper than previously assumed, so the GDP this year is lower than previously thought in both nominal and real terms. Consequently, the debt burden is slightly higher. Second, the revised data highlight the sub-par path of the current economic recovery when compared with rebounds following previous post-war recessions. We believe the sluggish pace of the current economic recovery could be consistent with the experiences of countries that have had financial crises in which the slow process of debt deleveraging in the private sector leads to a persistent drag on demand. As a result, our downside case scenario assumes relatively modest real trend GDP growth of 2.5% and inflation of near 1.5% annually going forward.

 

When comparing the U.S. to sovereigns with 'AAA' long-term ratings that we view as relevant peers--Canada, France, Germany, and the U.K.--we also observe, based on our base case scenarios for each, that the trajectory of the U.S.'s net public debt is diverging from the others. Including the U.S., we estimate that these five sovereigns will have net general government debt to GDP ratios this year ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%. By 2015, we project that their net public debt to GDP ratios will range between 30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at 79%. However, in contrast with the U.S., we project that the net public debt burdens of these other sovereigns will begin to decline, either before or by 2015.

 

Standard & Poor's transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment reflects our view of the likelihood of the sovereign restricting other public and private issuers' access to foreign exchange needed to meet debt service. Although in our view the credit standing of the U.S. government has deteriorated modestly, we see little indication that official interference of this kind is entering onto the policy agenda of either Congress or the Administration. Consequently, we continue to view this risk as being highly remote.

 

The outlook on the long-term rating is negative. As our downside alternate fiscal scenario illustrates, a higher public debt trajectory than we currently assume could lead us to lower the long-term rating again. On the other hand, as our upside scenario highlights, if the recommendations of the Congressional Joint Select Committee on Deficit Reduction--independently or coupled with other initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high earners--lead to fiscal consolidation measures beyond the minimum mandated, and we believe they are likely to slow the deterioration of the government's debt dynamics, the long-term rating could stabilize at 'AA+'.

 

 


FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.62.14

UK Pound

1

Rs.99.02

Euro

1

Rs.83.87

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SCs credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.