ON Semiconductor Corporation (NASDAQ:ON) has revealed on Friday the extension of its cash tender offer to purchase all outstanding shares of Fairchild Semiconductor International Inc. (NASDAQ:FCS) for $20 each, which is in pursuant of the merger agreement signed on November 18, to September 1. The cash tender offer will expire on the said date unless further extension has been deemed necessary by the company. The terms of the cash tender offer remains the same and its completion remains subject to regulatory requirements.
Recently, ON Semiconductor has made it to one of the coveted 2016 Who’s Who in Business lists by Arizona Republic, the Top 10 Publicly Held Arizona Companies. Moreover, Debbie Brogan, ON Semiconductor Vice President (VP) of Corporate Program Management, and Kimberly Appleton, ON Semiconductor VP of Global Sales Operations, have been included to the list of highest ranking women in Arizona.
Brogan and Appleton have been two of the company’s key leaders. Primarily, they are best recognized for launching the company’s Women’s Leadership Initiative two years ago. Their collaborative brainchild had already expanded outside the US, having debuted in Europe. Women’s Leadership Initiative is also expected to reach the Asian region soon. Moreover, it has led to the launch of the Diversity and Inclusion Initiative in North America, aiming to empower everyone in the workforce regardless of gender, race, and cultural background.
Q2 Financial Highlights
ON Semiconductor has released its earnings report for the second quarter earlier this month.
The company had a total of $877.80 million in revenue, posting a year-over-year surge of about7% year-over-year. For the period, its net income amounted to $25.10 million, which is equivalent to a diluted earnings per share (EPS) of $0.06.
Q3 Financial Guidance
Concurrent to its second quarter earnings report issuance, ON Semiconductor has also announced its financial expectations for the third quarter.
The company is expecting its third quarter revenue to come between $885 million and $925 million. On the other hand, Operating expenses are expected to come at around $225 million to $237 million while Net Interest expenses are expected to come at around $9.50 million to $12.50 million.