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

To: matt dillabough who wrote (15151)	6/1/2005 12:30:51 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Fairchild cuts Q2 guidance as inventory lingers EE Times (06/01/2005 10:20 AM EDT) MANHASSET, N.Y. — Fairchild Semiconductor reduced guidance for second quarter 2005 sales to be flat to down slightly, compared to flat previously as the company seeks to lower distribution inventory. Fairchild (South Portland, Maine) also reduced its forecast for gross margins from flat to slightly higher to 100 to 200 basis points lower sequentially. "Bookings and turns, orders booked with delivery requested for the current quarter, in May were slightly lower than April and below expectations," said Mark Thompson, Fairchild's president and chief executive, in a statement. "We believe much of this softness is due to the higher than normal inventory position we had in the distribution channel entering the quarter." Thomson added that demand for semiconductors used for power supplies, battery chargers, and handsets has been strong, but orders for analog power products for computing applications have been weak.