Fairchild Semiconductor reports quarterly income

SOUTH PORTLAND – Fairchild Semiconductor International on Tuesday reported first-quarter net income of $2.7 million, or 3 cents per diluted share, amid signs of a pickup in orders.

The results, which included $15.2 million in one-time gains, compare with net income of $1.6 million, or 2 cents per diluted share, during the same period a year ago.

On a pro forma basis, which excludes unusual items, Fairchild reported a first-quarter loss of $1.1 million, or 1 cent per share. The consensus estimate from Thomson Financial/First Call was for a loss of 3 cents per share.

Sales during the three months that ended March 31 totaled $336.9 million, down from $385.3 million in the corresponding period.

Fairchild, which manufactures semiconductors for various electronic devices, said bookings during the past quarter rose 28 percent from fourth-quarter levels and were the highest since the fourth quarter of 2000.

“Our business turned the corner about six months ago and began to accelerate midway through the first quarter,” said Kirk Pond, president, CEO and board chairman.

The company, headquartered in South Portland, has 10,000 employees worldwide with manufacturing plants in Utah, China, Malaysia, Singapore, South Korea and the Philippines.