Fairchild Semiconductor International, Inc. (FCS)

Fairchild Semiconductor (NYSE: FCS), a leading global supplier of high performance products to drive energy-efficiency, today announced results for the third quarter ended September 27, 2009. Fairchild reported third quarter sales of $331.8 million, up 19 percent from the prior quarter and 23 percent lower than the third quarter of 2008. Fairchild reported third quarter net income of $2.7 million or $0.02 per diluted share compared to a net loss of $24.9 million or $0.20 per share in the prior quarter and net income of $26.7 million or $0.21 per diluted share in the third quarter of 2008. Gross margin was 26.0 percent compared to 23.2 percent in the prior quarter and 29.9 percent in the year ago quarter. Included in these results is $3 million of accelerated depreciation and a favorable $0.1 million inventory reserve release related to previously announced fab closures.
Company says order rates remain solid across broad range of end markets and regions. It also said that combined channel and internal inventories are down $26 million from the prior quarter

Oct 15 · 11:02:00 AM · Source: Business Wire
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by Larry Etter