4% sequential rise in 2nd Q 2013 revenues of Fairchild Semiconductor

Fairchild Semiconductor has reported second quarter sales of $356.5 million, up 4 percent from the prior quarter and 1 percent lower than the second quarter of 2012. Fairchild reported a second quarter net loss of $7.5 million or $0.06 per diluted share compared to a net loss of $0.5 million or $0.00 per diluted share in the prior quarter and net income of $11.9 million or $0.09 per diluted share in the second quarter of 2012. Gross margin was 29.1 percent compared to 26.9 percent in the prior quarter and 32.6 percent in the year-ago quarter. Fairchild reported second quarter adjusted gross margin of 29.8 percent, up 200 basis points from the prior quarter and 280 basis points lower than the second quarter of 2012. Adjusted gross margin excludes accelerated depreciation related to a line closure. Adjusted net income was $1.7 million or $0.01 per diluted share, compared to a net loss of $2.0 million or $0.02 per diluted share in the prior quarter and net income of $17.6 million or $0.14 per diluted share in the second quarter of 2012. See the Reconciliation of Net Income to Adjusted Net Income exhibit included in this press release for more details on the other adjustment items. "We grew sales 4 percent sequentially in the second quarter and 7 percent through the first half of 2013," said Mark Thompson, Fairchild’s chairman and CEO. "Our high voltage product sale...