Fairchild Semiconductor (FCS) Tops Q2 EPS by 3c

Fairchild Semiconductor (NASDAQ: FCS) reported Q2 EPS of $0.14, $0.03 better than the analyst estimate of $0.11. Revenue for the quarter came in at $371.6 million versus the consensus estimate of $365.55 million.

Fairchild Semiconductor sees Q3 2014 revenue of $370-385 million, versus the consensus of $378.32 million.

"Fairchild continues to deliver steady sales growth due to improved execution and broad-based demand strength," said Mark Thompson, Fairchild's chairman and CEO. "Our distribution sell-through or POS has grown for six consecutive quarters while our weeks of inventory in the channel decreased again to about 9 weeks. We are managing the supply chain very well to maintain short lead times and lean, yet responsive inventory levels to better support our customers. Our current backlog is modestly higher than a quarter ago and we expect to grow sales again in the third quarter. We generated strong cash flow in the second quarter due to improved earnings coupled with low capital spending and favorable changes in working capital. We repurchased 4 percent of our outstanding shares of stock during the second quarter and we plan to continue returning cash to shareholders."

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

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