Create a free Manufacturing.net account to continue

Fairchild Semiconductor Profit Jumps In 1Q

Chip maker said its first-quarter profit nearly doubled as revenue climbed, helped by demand from industrial, auto, appliance and alternative energy customers.

SAN JOSE, Calif. (AP) -- Chip maker Fairchild Semiconductor International Inc. said Thursday that its first-quarter profit nearly doubled as revenue climbed, helped by demand from industrial, auto, appliance and alternative energy customers.

Though the company's profit exceeded analyst expectations, the stock fell more than 4 percent in afternoon trading.

For the quarter ended March 27, Fairchild earned $43.5 million, or 33 cents per share, compared with $22.6 million, or 18 cents per share, in the year-ago quarter.

Excluding special items, the company earned 39 cents per share. Analysts surveyed by FactSet expected 36 cents per share, on average.

Revenue climbed 9 percent to $413 million, in line with the $413.2 million analysts were expecting.

In a statement, Fairchild CEO Mark Thompson said demand generally met expectations, though its computing segment did not because of Intel chipset delays.

For the current quarter, Fairchild is expecting sales of $425 million to $435 million; analysts are expecting $423.6 million.

Fairchild shares fell 87 cents, or 4.5 percent, to finish trading at $18.31.
More in Industry 4.0