Fairchild Semi sees profits, sales up in Q2

By Matt Wickenheiser, BDN Staff
Posted July 14, 2011, at 8:31 a.m.

SOUTH PORTLAND, Maine — Fairchild Semiconductor on Thursday reported second-quarter profits of $44.9 million, up slightly from the last quarter, and from the same period a year ago.

Those profits were on sales of $433.2 million, which was a 5 percent increase from the first quarter.

“We delivered solid sales growth at the high end of our guidance for the second quarter,” said Mark Thompson, Fairchild’s president and CEO. “Fairchild continues to benefit from increased content in the industrial, appliance, automotive and alternative energy sectors plus share gains in mobile analog.”

Thompson said in a Thursday release that end-market demand was strong in the mobile handset market, as well as in the industrial, automotive and appliance segments.

The computer chip manufacturer has more than 9,000 employees in 27 locations globally. There are 800 in Maine, working at its fabrication facility and its corporate offices, both in South Portland. The company is registered in Delaware, and in January it filed papers in that state and with the Securities and Exchange Commission pegging San Jose, Calif., as the official headquarters.

Fairchild has shifted its business model in the last decade, moving from commodity chips to more specialized semiconductors that manage power usage in everything from smartphones to refrigerators to automobiles. Where their customers were once dealing with six or seven companies that could make the products Fairchild does, the company’s specialization has meant that often Fairchild is the only provider of certain chips.

Looking forward, the company said it expected third-quarter sales to be flat to up to 3 percent up.

Fairchild, which trades on the New York Stock Exchange under the symbol “FCS,” opened Thursday at $16.13.

http://bangordailynews.com/2011/07/14/business/fairchild-semi-sees-profits-sales-up-in-q2/ printed on July 22, 2014