Product category: Power Supply ICs and Controllers
News Release from: Fairchild Semiconductor
Edited by the Electronicstalk Editorial Team on 30 November 2001
Fairchild remains optimistic
over Q4 and 2002
Fairchild Semiconductor has confirmed its guidance for fourth quarter 2001 revenues and remains optimistic for 2002
Joe Martin, Fairchild Semiconductor's executive vice president and chief financial officer, made the statements today at Credit Suisse First Boston's annual Technology Conference in Phoenix, Arizona. "While we still are guiding fourth quarter overall revenues to be flat to down 5% sequentially from the third quarter, we are encouraged by the strength in our trade sales, which should see a slight increase this quarter", said Martin.
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"Our turns bookings were strong in October and have slowed in November as the seasonal demand winds down.
Quarter-to-date book-to-bill ratio continues to be slightly above 1:1.
We're very pleased that our 26-week backlog has grown throughout the quarter.
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While we expect our book-to-bill ratio may drop below 1:1 during December and January as a result of normal seasonal reductions in demand, we are encouraged that we are already building backlog for first quarter 2002", continued Martin.
"We have seen a slight uptick in pricing in October, mostly due to a stronger mix of power, interface and TinyLogicTM product sales.
We're on track to meet our guidance of improving gross margins by 200 basis points this quarter".
In end market segments, Fairchild saw continued seasonal strength in personal computers in October and early November.
The demand in the consumer area was also high for products such as DVD players, MP3 players, set top boxes and digital cameras.
The notebook computer market picked up in late October into November, while cell phone handset orders showed steady increases.
Wireline communications, networking and power supplies remain weak areas.
"We have become a stronger company through this downturn with market share gains, strategic acquisitions and improvements in our balance sheet", stated Martin.
"We're the top worldwide supplier of power components, and we're expanding our penetration into flat panel displays, automotive ignition, portable digital appliances, consumer electronics and portable computing and communications.
We just completed a very timely offering of convertible debt and now we have greater balance sheet flexibility to pursue acquisitions or reduce debt.
And we believe we will turn the corner in our earnings performance and expect improved results sequentially in this quarter and throughout 2002".
Fairchild expects to report its fourth quarter and full year 2001 financial results on 22nd January 2002.
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