Fairchild Semiconductor International Earnings: Here’s Why Investors are Happy Now
Fairchild Semiconductor International Inc. (NYSE:FCS) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.04%.
Fairchild Semiconductor International Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.02 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Decreased 2.56% to $343.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Fairchild Semiconductor International Inc. reported adjusted EPS loss of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.04. It beat the average revenue estimate of $340.31 million.
Quoting Management: First quarter sales and second quarter guidance are better than seasonal, said Mark Thompson, Fairchilds chairman and CEO. Bookings were robust throughout the first quarter and so far through Q2 at about a $400 million quarterly rate. These strong order rates are especially evident for our direct OEM business which is booking at the highest level since 2010. We posted solid sales growth in our high voltage products serving the industrial, appliance and automotive markets as well as continued market share gains for our mobile analog and power management solutions. These markets now account for 74% of total company sales, the highest level in our history. We further reduced both distribution channel and internal inventory levels to maintain one of the leanest supply chains in the industry. We are excited to see a solid recovery in the industrial and appliance sector which coupled with our continued growth in mobile and automotive should enable us to accelerate sales growth in 2013.
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