Fairchild Semiconductor International (South Portland, ME) announced that order rates and backlog are improving and reaffirmed its previous guidance, including its expectation that third-quarter revenues will be sequentially lower by 4% to 6%.
"At the beginning of this quarter, based on our starting backlog and concerns about our Asian distributor inventory levels, we guided third-quarter sales to be sequentially lower by 4% to 6%," said Kirk Pond, president, CEO and chairman of the board. "Third-quarter backlog has been filling in as expected, and we have been pleased with the strengthening of bookings and backlog leading into the fourth quarter. This is especially encouraging given that July and August are typically the slowest months of the quarter. As September has yet to unfold, we are hopeful this positive direction will continue."
Fairchild expects to report its third-quarter financial results on October 16, 2003.
