News

Fairchild Reports Third-Quarter 2003 Results

October 16, 2003 by Jeff Shepard

Fairchild Semiconductor International (South Portland, ME) announced results for the third quarter that ended September 28, 2003. Fairchild reported third-quarter sales of $328.4 million, with a net loss of $5.4 million, or $0.05 per share. Included in the third-quarter 2003 results are pre-tax charges of $6 million associated with restructuring activities announced in July of 2003.

Fairchild reported a sequential increase in pro-forma net income to $5.5 million, or $0.05 per diluted share, compared to pro-forma net income of $3.8 million, or $0.03 per diluted share, in the previous quarter. Pro-forma net income excludes amortization of acquisition-related intangibles, restructuring and impairments and other items. Excluding these charges, pro-forma operating margin for the third quarter was 5.8%, up 10 basis points sequentially.