Fairchild Semi Narrows Sales-Decline Estimate

The company says orders have been better than expected lately.
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Fairchild Semiconductor

said orders have recently been stronger than expected, leading it to predict that third-quarter revenue could drop as little as zero to 3% from a year ago.

That's a big improvement from the 4% to 6% decline the company previously foresaw.

Fairchild also said the existing consensus earnings estimate of 7 cents a share is "challenging but achievable." For the first quarter, the company said visibility "remains limited," and said it expects first-quarter revenue to fall barring an "exceptionally strong" holiday.

The shares finished at $13.03, down 97 cents, or 7.4%, on the

New York Stock Exchange

Wednesday.