SOUTH PORTLAND, Maine--Fairchild Semiconductor International Inc. today reported revenues sequentially slipped 3% to $372.4 million in the second quarter from $385.3 million in Q1 of this year. Fairchild said sales were 15% below revenues in the second quarter last year.
Including charges and other items, the company posted a net loss of $8.0 million in the second quarter compared to a net income of $59.7 million in the same period last year.
"Looking forward we remain cautious," said Kirk Pond, chairman, president and chief executive officer of Fairchild. "We are conservatively guiding that our third-quarter revenues may be down as much as 15-to-20% from second quarter levels. We expect our third quarter gross margin to be in the 20-22% range, as we plan to continue to match production with near term demand and continue to drive our inventories lower."
Pond said the company has reduced capital spending this year to a range of $125-to-$135 million.