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Product category: Power Supply ICs and Controllers
News Release from: Fairchild Semiconductor
Edited by the Electronicstalk Editorial Team on 15 July 2005

Fairchild to address low-margin
operations

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Fairchild Semiconductor has announced results for the second quarter ended 26th June 2005.

Fairchild Semiconductor has announced results for the second quarter ended 26th June 2005 Fairchild reported second quarter sales of $346.0 million, a 4.6% decrease from the prior quarter and 16.5% lower than the second quarter of 2004

Fairchild reported a second quarter net loss of $205.3 million or $1.71 per share compared with a net loss of $10.4 million or $0.09 per share in the prior quarter and net income of $17.0 million or $0.14 per diluted share in the second quarter of 2004.

Included in the loss was a $195.3 million noncash charge related to the reserve of deferred tax assets.

Also included in the loss were $3.9 million of restructuring expenses in the second quarter related to employee severance and certain asset impairments.

Gross margin was 19.9%, 320 basis points lower sequentially and 940 basis