Facebook Twitter

Fairchild reports income for quarter, loss for year

SHARE Fairchild reports income for quarter, loss for year

Maine-based Fairchild Semiconductor, which has a West Jordan manufacturing plant, on Thursday reported net income of $3.5 million, or 3 cents per share, for the fourth quarter. That compares with a loss of $16.2 million, or 16 cents per share, for the 2001 fourth quarter.

The 2002 quarter included unusual charges net of gains of $9.6 million, which included severance payments for previously announced employee reductions. The company also had a tax benefit of $10.7 million in the quarter.

Sales totaled $353.9 million, up 9 percent from a year ago.

For the full year, the company reported a net loss of $2.5 million, or 2 cents per share, on revenues of $1.41 billion. That compares with a net loss of $41.7 million, or 42 cents per share, on revenues of $1.4 billion in 2001.

Fairchild said revenues in the 2003 first quarter should be "seasonably flat" to down 5 percent from 2002 fourth-quarter levels.

The company's stock closed Thursday at $11.28, down 39 cents during the day. In the past year, the price has ranged from $6.85 to $32.03.