Fairchild registers 3% growth in revenue sequentially in 1Q2013

Fairchild Semiconductor has reported first quarter sales of $343.2 million, up 3 percent from the prior quarter and 3 percent lower than the 14 week first quarter of 2012. Fairchild reported a first quarter net loss of $0.5 million or $0.00 per diluted share compared to a net loss of $13.6 million or $0.11 per diluted share in the prior quarter and net income of $1.6 million or $0.01 per diluted share in the first quarter of 2012. Gross margin was 26.9 percent compared to 29.8 percent in the prior quarter and in the year-ago quarter. "First quarter sales and second quarter guidance are better than seasonal," said Mark Thompson, Fairchild's 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 ...