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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (8876)	3/4/2003 12:11:08 AM
From: StanX Long	Read Replies (1) \| Respond to of 95737

Fairchild Says Revenue Looks Ahead of Estimates Mon Mar 3, 5:47 PM ET story.news.yahoo.com SOUTH PORTLAND, Me. (Reuters) - Fairchild Semiconductor International Inc. (NYSE:FCS - news), one of the largest makers of commodity semiconductor chips, on Monday said first-quarter revenues were running "slightly ahead" of projections it had previously given. South Portland, Maine-based Fairchild Semi said orders were "fairly steady" during the first six weeks of the quarter, and as a result the company now expects revenue to be flat to down 3 percent compared with fourth quarter revenue of $353.9 million. Previously, Fairchild had expected revenue to be flat to down 5 percent quarter-over-quarter. But the company also said it expected gross margins in the quarter to be down over the fourth quarter more than the 100 basis points it had previously forecast, as the margins came under pressure in the company's high-voltage power business. Longer-term, though, the company said it continues to expect to drive margins to the mid-30 percent range. Fairchild also said it would expect to guide to higher margins and revenues for the second quarter if recent trends of higher bookings continued. The company noted its backlog for the second quarter showed a shift to higher-priced products and higher margins than for shipments in the first quarter. In the year-ago first quarter, Fairchild had net income of $2.7 million, or 3 cents a share, on revenue of $336.9 million. Before a gain, charges and other items, Fairchild said it posted a loss of $1.1 million, or 1 cent a share. Analysts expect Fairchild expect to post a first-quarter profit before items of 4 cents a share, on revenue of $345.7 million, according to tracking firm Thomson First Call. The Shares of Fairchild closed down 3.9 percent at $11.69 on the New York Stock Exchange (news - web sites). (Additional reporting by Ben Berkowitz in Los Angeles)