Fairchild Semiconductor International In (FCS, Financial) filed Quarterly Report for the period ended 2012-07-01.
Fairchild Semiconductor International has a market cap of $1.81 billion; its shares were traded at around $15.21 with a P/E ratio of 20.6 and P/S ratio of 1.1.
The net favorable depreciation impact to gross margin was offset by decreased revenue, increased expenses from 8-inch conversion costs, higher inventory write downs, as well as higher unit costs of inventory due to lower production rates resulting in an overall decrease in gross margin for the second quarter and first six months of 2012 as compared to the same periods in 2011.
PCIA revenue in the second quarter of 2012 included $4.0 million of insurance proceeds related to business interruption claims for the companys optoelectronics supply issues resulting from flooding in Thailand in the fourth quarter of 2011. The revenue decrease in the second quarter and first six months of 2012 as compared to the same periods of 2011 was primarily attributable to reduced market demand for our high voltage products and efforts to manage channel inventory. The decreased revenue from high voltage products was mitigated in part by strong sales for our automotive products, particularly advanced power management products. Lower gross margin was mainly a result of decreased revenue and increased 8 inch conversion costs.
The SDT revenue decrease in the second quarter and first six months of 2012 as compared to the same periods in 2011 was from our strategic efforts to eliminate lower margin products and also reduced overall market demand. Lower average selling prices also contributed to the decrease in SDT revenue as compared to the second quarter and first six months of 2011. Lower gross margin was due to lower revenue and higher overhead costs.
The decrease in operating income was primarily due to lower gross margin. R&D and sales and marketing expenses were also higher in the second quarter and first six months of 2012 as a result of increased investment in R&D and sales and marketing. In addition operating expenses included an additional week of costs in the first six months of 2012 as compared to 2011. This increase was offset in part by reduced variable compensation costs.
Read the The complete Report
Fairchild Semiconductor International has a market cap of $1.81 billion; its shares were traded at around $15.21 with a P/E ratio of 20.6 and P/S ratio of 1.1.
Highlight of Business Operations:
Revenue in the second quarter of 2012 included $4.0 million of insurance proceeds related to business interruption claims for the companys optoelectronics supply issues resulting from the Thailand floods in the fourth quarter of 2011. Despite an extra week in the first six months of 2012 compared to the first six months of 2011 revenue decreased in 2012. Lower unit sales volume sold drove 9% of the decrease in revenue in the second quarter and first six months of 2012 when compared to the same periods in 2011. The remaining 7% decline in revenue was caused by lower average selling prices.The net favorable depreciation impact to gross margin was offset by decreased revenue, increased expenses from 8-inch conversion costs, higher inventory write downs, as well as higher unit costs of inventory due to lower production rates resulting in an overall decrease in gross margin for the second quarter and first six months of 2012 as compared to the same periods in 2011.
PCIA revenue in the second quarter of 2012 included $4.0 million of insurance proceeds related to business interruption claims for the companys optoelectronics supply issues resulting from flooding in Thailand in the fourth quarter of 2011. The revenue decrease in the second quarter and first six months of 2012 as compared to the same periods of 2011 was primarily attributable to reduced market demand for our high voltage products and efforts to manage channel inventory. The decreased revenue from high voltage products was mitigated in part by strong sales for our automotive products, particularly advanced power management products. Lower gross margin was mainly a result of decreased revenue and increased 8 inch conversion costs.
The SDT revenue decrease in the second quarter and first six months of 2012 as compared to the same periods in 2011 was from our strategic efforts to eliminate lower margin products and also reduced overall market demand. Lower average selling prices also contributed to the decrease in SDT revenue as compared to the second quarter and first six months of 2011. Lower gross margin was due to lower revenue and higher overhead costs.
The decrease in operating income was primarily due to lower gross margin. R&D and sales and marketing expenses were also higher in the second quarter and first six months of 2012 as a result of increased investment in R&D and sales and marketing. In addition operating expenses included an additional week of costs in the first six months of 2012 as compared to 2011. This increase was offset in part by reduced variable compensation costs.
Read the The complete Report
