Fairchild Semiconductor (South Portland, ME) has reduced its expected revenues for first-quarter 2001 due to continuing inventory corrections by customers in response to slower worldwide demand.
“While our orders in February increased compared to January, we continue to see less robust demand than projected, especially from the communications and computing segments, and the distribution and contract manufacturing companies serving those segments," commented Kirk Pond, president, chairman and CEO of the company. “We currently expect first-quarter revenues to be approximately 20 percent lower than fourth-quarter 2000, and our book-to-bill ratio for this quarter to be below parity. Correspondingly, our visibility into the second quarter remains uncertain."
