Manufacturing Industry
Fairchild Gains in 1Q
Electronic News, Sept 27, 1999
Fairchild Semiconductor, South Portland, Maine, reported revenues of $324.5 million in its first quarter ended Aug. 30 vs. $151.3 million in the same fiscal 1999 quarter. Results include the first full quarter of operations of the Power Device Products Group purchased from Samsung Electronics in April.
Fairchild saw a loss of $8 million, including charges tied to an initial public offer that raised $370 million. Excluding special items, earnings were $16 million vs. an adjusted net loss of $12 million. Separately, Arun Veerappan, BancBoston Robertson Stephens analyst, reiterated a "buy" on Fairchild shares, saying the company was "executing on all cylinders."
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