said it beat Wall Street's lowered earnings projections for the fourth quarter, but indicated that revenue would decline sequentially in the upcoming period.
Adjusted income totaled $76.9 million, or 76 cents a share, up from $33 million, or 36 cents a share, in the year-ago period. Five analysts polled by
First Call/Thomson Financial
were calling for the company to earn 72 cents. Earlier this month, the company
warned that it would miss fourth-quarter sales estimates. At the time, analysts were expecting the company to earn 82 cents for the fourth quarter.
Revenue for the fourth quarter rose to $468.8 million, up from $361 million in the same period last year.
The company, which is based in South Portland, Maine, also said first-quarter sales should be down 10% sequentially, while second-half revenue would be 7% to 9% higher than first-half totals.
Shares of Fairchild closed the regular session down 19 cents, or 1.1%, to $17.50 on the
New York Stock Exchange