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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63118)	4/23/2002 11:21:49 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Fairchild Sees 4% Increase in Q1 Sales Online staff -- Electronic News, 4/23/2002 e-insite.net Fairchild Semiconductor International Corp. today reported first-quarter revenues that were 4 percent higher than the previous quarter, but down 13 percent year-over-year. The South Portland, Maine, company also disclosed it plans to boost its manufacturing workforce as well as increase capital spending in the second quarter. Sales for the quarter were $336.9 million compared with $324.6 million in the fourth quarter and $367.8 million a year ago. First-quarter gross margins were about 24 percent. Bookings during the quarter were the highest since the fourth quarter of 2000, Fairchild said. Bookings were 28 percent higher than the fourth quarter, and the company’s overall book-to-bill ratio was 1.3:1, and was above 1:1 in all of its major end-markets, the company said. Fairchild’s net income totaled $2.7 million, or 3 cents per diluted share. During the quarter, Fairchild had unusual gains totaling $15.2 million, including a $20.5 million gain on the sale of the company's military and space-related discrete power product line to International Rectifier Corp. and $5.3 million in charges associated with severance costs and purchased in-process R & D. For the fourth quarter, the company reported a net loss of $16.2 million. Net income a year ago totaled $1.6 million.