MANHASSET, N.Y. Agere Systems and Fairchild Semiconductor both project lackluster March quarters after posting mixed results in their December quarters.
Agere (Allentown, Pa.) posted a net loss of $67 million, or 4 cents per share on sales of $410 million in its first fiscal 2005 quarter ended December, the high end of the company's guidance. The company lost $39 million, or 2 cents per share on sales of $516 million in the year-ago quarter.
The company reported strong shipments of read channel ICs for small form factor drives and system-on-chip solutions for PC and consumer electronics.
Agere expects to post a 3 to 5 cent loss in its second 2005 fiscal quarter ended March, with revenue of $400 million to $420 million.
Fairchild Semiconductor (South Portland, Maine) posted net earnings of $15.8 million, or 13 cents per share on sales of $379.4 million, compared to $5.3 million or 4 cents per share on sales of $369.2 million a year ago.
For 2004, Fairchild reported net income of $59.2 million, or 48 cents per share on sales of $1.6 billion, up from a net loss of $81.5 million, or 69 cents per share on sales of $1.4 billion in 2003
"We grew our power business 24 percent year-over-year in 2004, which reflects steady market share gains, especially for power analog," said Kirk Pond, Fairchild's president, chief executive, and chairman.
Fairchild expects revenue to fall 2 to 6 percent the first quarter of 2005 due to seasonal slowness, pricing pressure, and lower capacity utilization.