Fairchild Semiconductor (FCS) Misses Q2 EPS by 7c; Guides Below the Street
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Fairchild Semiconductor (NYSE: FCS) reported Q2 EPS of $0.01, $0.07 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $356.5 million versus the consensus estimate of $365.66 million.
Fairchild Semiconductor sees Q3 2013 revenue of $355-370 million, versus the consensus of $388.21 million.
"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 sales supporting the industrial and appliance markets were up 15 percent sequentially. We posted record quarterly sales for our products serving the automotive market. Power conversion products also recorded solid sales growth in the second quarter. We saw some incremental demand weakness from the notebook PC market and at a couple of large mobile customers that impacted Q2 sales and our backlog heading into the third quarter. We expect the weakness in notebooks to persist but have limited impact on our future results now that it accounts for less than 3 percent of total sales. Mobile sales are expected to increase in the third quarter due largely to one major customer and continued growth from our Chinese customers. Our guidance reflects some conservatism given how difficult it has been for our customers to forecast actual mobile demand."
For earnings history and earnings-related data on Fairchild Semiconductor (FCS) click here.
Fairchild Semiconductor sees Q3 2013 revenue of $355-370 million, versus the consensus of $388.21 million.
"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 sales supporting the industrial and appliance markets were up 15 percent sequentially. We posted record quarterly sales for our products serving the automotive market. Power conversion products also recorded solid sales growth in the second quarter. We saw some incremental demand weakness from the notebook PC market and at a couple of large mobile customers that impacted Q2 sales and our backlog heading into the third quarter. We expect the weakness in notebooks to persist but have limited impact on our future results now that it accounts for less than 3 percent of total sales. Mobile sales are expected to increase in the third quarter due largely to one major customer and continued growth from our Chinese customers. Our guidance reflects some conservatism given how difficult it has been for our customers to forecast actual mobile demand."
For earnings history and earnings-related data on Fairchild Semiconductor (FCS) click here.
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