Fairchild Semiconductor (FCS) Misses Q1 EPS by 1c; Updates on Pending Acquisition

Fairchild Semiconductor (NASDAQ: FCS) reported Q1 EPS of $0.13, $0.01 worse than the analyst estimate of $0.14. Revenue for the quarter came in at $327 million versus the consensus estimate of $323.58 million.

Pending Acquisition Update

• As previously announced on November 18, 2015, Fairchild entered into an Agreement and Plan of Merger with ON Semiconductor, under which a wholly owned subsidiary of ON Semiconductor agreed to acquire all of the outstanding shares of Fairchild common stock for $20.00 per share in cash.
• Fairchild and ON Semiconductor continue to work cooperatively and expeditiously to obtain required regulatory approvals in connection with the transaction.

Given the current acquisition process, Fairchild has discontinued its practice of providing detailed forward guidance and conducting an earnings conference call to discuss its financial results.

For earnings history and earnings-related data on Fairchild Semiconductor (FCS) click here.

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