Fairchild Semiconductor Reports Second-Quarter Results

July 24, 2001 by Jeff Shepard

Fairchild Semiconductor (San Jose, CA) reported results for the second quarter of 2001, ended July 1, 2001. Revenues were $372.4 million, down three percent sequentially from the first quarter of 2001, and down 15 percent from the second quarter of 2000.

"Fairchild executed well in the second quarter, in an electronics market plagued by weak demand and aggressive pricing. We grew market share, continued earning design wins and introduced more than 150 new products, all while reducing our spending levels," said Kirk Pond, chairman, president and CEO. "As we work through this challenging downturn, our business model remains strong, our employees are motivated and executing well, our balance sheet is solid, and we fully expect to emerge from this current cycle stronger and better-positioned than many of our competitors."