SAN FRANCISCO--Fairchild Semiconductor International Corp. aims to double its annual revenues by 2002 from last year's ran rate of nearly $1.4 billion in sales, according to Joe Martin, executive vice president and chief financial officer at the company.
Speaking before the Robertson Stephens Technology Conference here today, Martin said the company's revenues will double as a result of new product development, acquisitions, and strong growth in a number of targeted "multi-market" chip segments. In 1999, Fairchild adjusted its fiscal year to end on Dec. 26 vs. the end of May. As a result, Fairchild reported $786.2 million in revenues and a net income of $54.5 million in the shorten fiscal year.
Martin said Fairchild has more than 50,000 customers globally, in the telecommunications, internet hardware, computer, consumer, industrial and automotive markets. "Our diversity is our strength," he asserted. "We're focused on key 'multi-market' segments and have built industryleading positions in our focus areas including power, analog and logic. We'll do the same in the interface arena," Martin added.
"New product revenues have soared from 5% of total sales two years ago to more than 28% of total sales revenue today," said the CFO. "And we plan to increase that percentage."
He said the South Portland, Maine-based company will also continue to make strategic acquisitions for growth. "In less than three years, we've completed two acquisitions. Raytheon Semiconductor gave us our foundation in the analog business," Martin said. "Last year's $450 million acquisition of Samsung's power device business gave Fairchild the most comprehensive power discrete portfolio in the industry while expanding our analog offerings. Our analog portfolio of more than 700 products includes the top 100 highest volume products."
"Any acquisition must add complementary products to our multi-market focus, strengthen our geographic markets and open up new end market opportunities." Martin maintained.
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