This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Fairchild Semiconductor To Repurchase $100 Million Of Common Stock

Fairchild Semiconductor (NASDAQ: FCS), a leading global supplier of power semiconductors, announced today that its Board of Directors has authorized the repurchase of up to $100 million of the company’s common stock. Fairchild will repurchase shares from time to time in the open market or in privately negotiated transactions.

“We are excited to initiate this enhanced share repurchase program as an efficient method to return excess cash to our shareholders,” said Mark Thompson, Fairchild’s chairman and CEO. “Fairchild has consistently reduced debt and strengthened its balance sheet during the last five years. We completed a significant investment cycle to increase our 8 inch wafer fabrication capabilities last year and now expect lower capital spending for many years. The operational efficiency actions we are planning should further increase our profitability and cash flow. This share repurchase program illustrates Fairchild’s confidence in its ability to grow sales and earnings as well as our commitment to shareholders.”

This authorization permits the company to repurchase up to $100 million of common stock before December 31, 2014. This repurchase program is expected to reduce share count by approximately 6% based on the current stock price.

Special Note on Forward Looking Statements:

Some of the paragraphs above contain forward-looking statements that are based on management’s assumptions and expectations and involve risk and uncertainty. Other forward-looking statements may also be found in this news release. Forward-looking statements usually, but do not always, contain forward-looking terminology such as “we believe,” “we expect,” or “we anticipate,” or refer to management’s expectations about Fairchild’s future performance. Many factors could cause actual results to differ materially from those expressed in forward-looking statements. With respect to the share repurchase program, any repurchased shares will be available for use in connection with our stock plan and for other corporate purposes. The repurchase program may be suspended or discontinued at any time. Several factors may negatively affect our ability to repurchase shares, including the following: changes in market conditions; failure to achieve expected savings and cash flow from cost reduction actions or other adverse results from those actions; changes in demand for our products; changes in inventories at our customers and distributors; order cancellations or reduced bookings; changes in manufacturing yields or output; risks related to warranty and product liability claims; risks inherent in doing business internationally; changes in tax regulations or the migration of profits from lower tax jurisdictions to higher tax jurisdictions; regulatory risks and significant litigation. These and other risk factors are discussed in the company’s quarterly and annual reports filed with the Securities and Exchange Commission (SEC) and available at the Investor Relations section of Fairchild Semiconductor’s web site at  investor.fairchildsemi.com or the SEC’s web site at  www.sec.gov.



1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs