Boston, MA 04/21/2014 (wallstreetpr) – Fairchild Semiconductor Intl Inc (NASDAQ:FCS), a leader among global power semiconductor suppliers, announced the 1Q results for the period ended March 30, 2014 on April 17.
Fairchild reported an increase of 1% in sales during the reported quarter as compared to the previous quarter. Sales reached up to $344.1 million, which is also higher than the sales not only in the previous quarter, but also from the same quarter of the prior year.
Q1 Results
Net loss in the 1Q2014 was recorded to be $9.3 million, which is equivalent to $0.07 per diluted share. This is comparable to the net income of $0.9 million or equivalently $0.01 per diluted share in the last quarter. In the 1Q of the prior year, Fairchild Semiconductor Intl Inc (NASDAQ:FCS) had reported a net loss of $0.5 million or $0.00 on every diluted share. Gross margin was down to 30.3% as compared to 30.9% in the previous quarter. Gross margin in the same quarter last year was much less around 26.9% than this year.
Fairchild Semiconductor Intl Inc (NASDAQ:FCS) announced adjusted gross margin in the quarter to be 30.3%, which is 100 basis points less than the previous quarter results, but high 250 basis points as compared to the same quarter of 2013. Adjusted net income was reported to be $4.9 million, much less than the $13.5 million in the previous quarter. In the prior quarter the company had announced $0.11 per diluted share, while, in this quarter, it has reported only $0.04 per diluted share. This is also comparable to adjusted net loss of $2 million or $0.02 per diluted share during the same quarter last year.
The company expects second quarter sale to be between $355 million and $375 million approximately. Adjusted gross margin is forecasted to be between 31% and 32% on account of increased sales and facility loadings.
