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Product category: Power Supply ICs and Controllers
News Release from: Fairchild Semiconductor
Edited by the Electronicstalk Editorial Team on 19 January 2004

Investment pays off for Fairchild

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Fairchild Semiconductor has published its results for the fourth quarter and full year ended 28th December 2003.

Fairchild Semiconductor has published its results for the fourth quarter and full year ended 28th December 2003 Fairchild reported fourth quarter sales of $369.2 million, 12% higher than the prior quarter and 4% greater than fourth quarter 2002

Fairchild reported net income of $5.3 million or $0.04 per diluted share.

Included in the fourth quarter 2003 results are pre-tax charges of $6.0 million associated with the accounting for in-process research and development related to the purchase of Raytheon's nonmilitary RF components business completed in the quarter, as well as certain restructuring activities.

Operating margin for the fourth quarter was 4.9%, exceeding guidance and up 330 basis points sequentially.

Fairchild reported a sequential increase in pro forma net income to $17.5 million or $0.14 per diluted share which exceeds the consensus estimate and compares favourably with pro forma net income of $5.5 million or $0.05 per diluted share in the