PHOENIX (AP) _ ON Semiconductor Corp. (ON) on Sunday reported second-quarter net income of $155.3 million.

On a per-share basis, the Phoenix-based company said it had profit of 35 cents. Earnings, adjusted for non-recurring costs, were 46 cents per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The semiconductor components maker posted revenue of $1.46 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $1.43 billion.

For the current quarter ending in October, ON Semiconductor Corp. said it expects revenue in the range of $1.49 billion to $1.54 billion.

ON Semiconductor Corp. shares have increased 11 percent since the beginning of the year. The stock has climbed 54 percent in the last 12 months.


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