This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Fairchild Semiconductor Reports Results For The First Quarter 2014

Stocks in this article: FCS

SAN JOSE, Calif., April 17, 2014 (GLOBE NEWSWIRE) -- Fairchild Semiconductor (Nasdaq:FCS), a leading global supplier of power semiconductors, today announced results for the first quarter ended March 30, 2014. Fairchild reported first quarter sales of $344.1 million, up 1 percent from the prior quarter and slightly higher than the first quarter of 2013.

Fairchild reported a first quarter net loss of $9.3 million or $0.07 per diluted share compared to net income of $0.9 million or $0.01 per diluted share in the prior quarter and a net loss of $0.5 million or $0.00 per diluted share in the first quarter of 2013. Gross margin was 30.3 percent compared to 30.9 percent in the prior quarter and 26.9 percent in the year-ago quarter.

Fairchild reported first quarter adjusted gross margin of 30.3 percent, down 100 basis points from the prior quarter but 250 basis points higher than the first quarter of 2013. Adjusted gross margin in past quarters excluded accelerated depreciation related to a line closure. Adjusted net income was $4.9 million or $0.04 per diluted share, compared to adjusted net income of $13.5 million or $0.11 per diluted share in the prior quarter and an adjusted net loss of $2.0 million or $0.02 per diluted share in the first quarter of 2013. See the Reconciliation of Net Income to Adjusted Net Income exhibit included in this press release for more details on the other adjustment items.

"Demand has been robust all year as Fairchild's focus on improving energy efficiency in a wide range of industrial, appliance, automotive and mobile applications accelerates our growth," said Mark Thompson, Fairchild's chairman and CEO. "The strength in orders is broader based than a year ago, especially in the mobile end market. Our current backlog is up 20% from a quarter ago, which when coupled with our lean inventory position enables us to guide for strong sales growth in the second quarter. Demand is very solid for our products supporting the automotive, industrial and appliance end markets. Sales of our products into the computing end market were also higher sequentially as demand recovered from a weak fourth quarter. Mobile demand was flat to the prior quarter which was better than expected. We benefited from content gains on a major new phone platform as well as mid-tier Chinese brands.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs