Friday, July 16, 2010
Fairchild Semiconductor reported a strong set of second quarter financial results that took its gross margin to the highest level since 2000 and allowed the company to pay off $26 million of debt.
The second quarter sales were $409.6 million, up 8 percent from the prior quarter and 47 percent higher than the second quarter of 2009. The company made a net income of $43.8 million compared to net income of $22.6 million in the prior quarter and a net loss of $24.9 million in the second quarter of 2009.
The company said it expects third quarter sales revenue to be in the range $415 million to $425 million, which would represent a sequential increase of between 1.3 percent and 3.8 percent. The company paid of $26 million in debt during the quarter and plans to pay off a further $122 million at the end of July, reducing Fairchild's endebtedness to $322 million.
By: DocMemory
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