Fairchild Semiconductor (FCS), a supplier of power semiconductors, posted a net loss for the first quarter, with lower sales and margins for the period.
The company posted a first-quarter net loss of $0.5 million or $0.00 per share compared to net profit of $1.6 million or $0.01 per share in the year-ago quarter.
On adjusted basis, net loss was $2.0 million or $0.02 per share, versus a net profit of $8.3 million or $0.06 per share last year. This adjusted net loss excluded the $12.6 million litigation charge reversal related to the recent favorable court ruling on the first Power Integrations lawsuit.
On average, 14 analysts polled by Thomson Reuters expected the company to report earnings per share of $0.04 for the quarter. Analysts' estimates typically exclude one-time items.
Gross margin was 26.9 percent compared to 29.8 percent in the year-ago quarter.
Fairchild's sales fell 3 percent to $343.2 million in the quarter, while 13 analysts had expected sales of $340.31 million.
For the second quarter, the company expects sales to be in the range of $355 million to $375 million, while the Street expects sales of $358.27 million.
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