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Product category: Power Supply ICs and Controllers
News Release from: Fairchild Semiconductor
Edited by the Electronicstalk Editorial Team on 20 January 2006

2006 holds great promise for Fairchild

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Fairchild Semiconductor has reported results for the fourth quarter and full year ended 25th December 2005.

Fairchild Semiconductor has reported results for the fourth quarter and full year ended 25th December 2005 Fairchild reported fourth quarter sales of $370.8 million, a 7% increase from the prior quarter and 2% lower than the fourth quarter of 2004

Fairchild reported a fourth quarter net loss of $4.7 million or $0.04 per share compared with a net loss of $20.8 million or $0.17 per share in the prior quarter and net income of $15.8 million or $0.13 per diluted share in the fourth quarter of 2004.

Gross margin was 24.2%, 340 basis points higher sequentially and 140 basis points lower than in the fourth quarter of 2004.

Included in the net loss for the quarter was $14.5 million of tax expense related to the repatriation of foreign earnings under the American Jobs Creation Act of 2004.

The company recorded $3.4 million of impairments for certain manufacturing assets in its Mountain Top, Pennsylvania fab and $1.3 million in restructuring charges primarily for employee severance.

Finally, the company recorded $17.6 million of net proceeds from the previously announced settlement of its lawsuit against Sumitomo Bakelite, as well as an increase of $6.9 million in its reserve for related customer claims, resulting in a $10.7 million favourable net impact for the quarter.

Fairchild reported f