Fairchild Semiconductor International (South Portland, ME) announced results for the third quarter ended September 26, 2004. The company reported third-quarter sales of $409.7 million, a 25% increase from the third quarter of 2003, and 1% lower than the prior quarter.
Fairchild reported net income in the third quarter of $13.4 million, or $0.11 per diluted share, compared to a net loss of $5.4 million, or $0.05 per share, in the third quarter of 2003, and net income of $17.0 million, or $0.14 per diluted share, in the prior quarter. Gross margin was 30.3%, up 920 basis points from the third quarter of 2003 and up 100 basis points sequentially.
Fairchild reported a sequential increase in pro-forma net income to $32.0 million, or $0.26 per diluted share, 482% higher than the pro-forma net income of $5.5 million, or $0.05 per diluted share, in the third quarter of 2003, and 1% greater than the $31.7 million, or $0.26 per diluted share, in the prior quarter. Pro-forma net income excludes amortization of acquisition-related intangibles, restructuring and impairments and other items.
