Fairchild Semiconductor International Inc. (FCS) announced that it has lowered its fourth quarter revenue guidance to the range of $338 million - $360 million, a decline of 16% - 21% sequentially from the third quarter of 2008. Earlier, the company expected sequential sales decline of 6% - 12%.
Analysts polled by First Call/Thomson financial expect the company to report revenue of $387.91 million for the quarter.
Due to the lower revenue, the company said it expects fourth quarter gross margin to be down 100 to 200 basis points and sees to cut R&D and SG&A spend to $73 million - $76 million. Previously, the company anticipated a flat gross margin and R&D and SG&A spending of $80 million - $83 million.
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