Fairchild Semiconductor earns $13.1 million in Q4
Fairchild Semiconductor International Inc. rose Thursday after the chip maker posted higher-than-expected fourth-quarter results and gave a strong revenue outlook for current period.
During the fourth quarter, the company earned $13.1 million, or 10 cents per share, up from a loss of $218.1 million or $1.76 per share, in the same period a year earlier. The 2008 quarter included a goodwill impairment charge of $203.3 million.
Excluding items such as a litigation charge and restructuring expenses, the company earned 23 cents per share in the latest quarter.
Revenue rose 11 percent to $354.5 million from $320.9 million.
Analysts, on average, expected adjusted profit of 17 cents per share on sales of $340.9 million, according to a poll by Thomson Reuters.
“We delivered results in the fourth quarter that exceeded our initial expectations in virtually all aspects of the business,” said Mark Thompson, president and CEO, in a statement.
For the current quarter, Fairchild forecast sales of about $370 million, above analysts’ expectations of $335.8 million.
For 2009, Fairchild recorded a loss of $60.2 million, or 49 cents per share, compared with a loss of $167.4 million, or $1.35 per share, a year earlier.
Full-year revenue fell 25 percent to $1.19 billion from $1.57 billion.
Fairchild’s chips are used in computers, consumer electronics products, as well as by the automotive and telecommunications industries. Its shares rose 50 cents, or 5.4 percent, to $9.77 in midday trading. The stock has traded in a 52-week range of $2.83 to $11.48.