Fairchild Cuts Third-Quarter 2002 Revenue Forecast
Fairchild Semiconductor International (South Portland, ME) revised downward its third-quarter 2002 forecast after a seasonally soft summer. The third-quarter revenue is now expected to be flat to slightly down from the second quarter, compared with the company’s previous guidance of flat to slightly up. Third-quarter gross margins are now expected to be down roughly one percent from the second quarter.
"The summer season is usually a slower time for orders, and this year has been no exception," said Kirk Pond, president, CEO and chairman. "Orders from the computing and consumer segments have been the softest this quarter, while orders from cellular handset suppliers have been relatively firm. During this slower bookings period, we have seen a more aggressive pricing environment for our mature discrete, standard logic and standard linear products."