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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (4984)	1/16/2003 8:17:18 PM
From: Proud_Infidel	Respond to of 25522

Fairchild reports loss for 2002 as prices erode By Spencer Chin EBN (01/16/03 06:14 p.m. EST) Fairchild Semiconductor International Inc., reported net income of $3.5 million, or 3 cents per share, on sales of $353.9 million in the fourth quarter of 2002. The net income include a $9.6 million charge for severance payments related to previous employee reductions. In the year-ago quarter, Fairchild lost $16.2 million, or 16 cents per share, on sales of $313.2 million. For 2002, the South Portland, Maine, semiconductor supplier lost $2.5 million, or 2 cents per share, on sales of $1.41 billion, compared to a loss of $41.7 million, or 42 cents per share, on sales of $1.40 billion in 2001. Though Fairchild's financial performance improved over a year ago, the company continues to feel the effects of mixed end-market demand and pricing pressure, according to Kirk Pond, president, chairman, and chief executive. During a conference call with analysts, Pond noted that prices fell an average of 4 to 5% in the fourth quarter, with pricing pressure most severe in standard CMOS logic and linear regulator ICs. Asked when prices might stabilize, he responded that several quarters of strong demand were needed. On a positive note, Fairchild reported a 13% sales year-over-year gain in 2002 for power discrete and power analog products, spurred by relative strength in its computer, consumer and industrial markets. In a related development, Fairchild said it would double process production capacity in its 8in. fab in Mountaintop, Pa., used to fabricate PowerTrench MOSFETs. "This will enable us to replace planar MOSFETs with higher performance, higher margin PowerTrench MOSFETs," Pond said. Fairchild will close its older 6in. Mountaintop fab, transferring MOSFET production to its Bucheon, South Korea fab. For the first quarter ending March, Fairchild projects revenue to be flat to down 5% from the fourth quarter of 2002.