Chipmaker ON Semiconductor reported a huge surge in revenues in its third quarter, compared with the same period a year ago.
The Phoenix-based company, which bought Fairchild Semiconductor in September 2016 and has offices and a manufacturing facility in South Portland, reported revenue of $1.39 billion, up about 46 percent compared to the same quarter last year.
The increase was due in part to the inclusion of a full quarter of Fairchild’s results.
“Our revenue momentum continues to accelerate as we benefit from our years of investments in technologies and capabilities that are enabling key innovations in automotive, industrial and communications end-markets,” said Keith Jackson, president and CEO of ON Semiconductor, in a statement accompanying its third-quarter results.
Diluted earnings per share jumped from 2 cents in the third quarter of 2016 to 25 cents per share in this quarter, a 1,150 percent increase.
The company said it expects the fourth quarter to be strong as well. Based on orders and its backlog, the company anticipates that total revenue in the fourth quarter of 2017 will be about $1.32 billion to $1.37 billion.
Through September, the company reported revenues for the year of nearly $4.17 billion. Last year at this time, revenues were at $2.64 billion.
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