Fairchild Semiconductor sees Q1 revenue $330M-$350M, consensus $345.77M Says current scheduled backlog is nearly sufficient to achieve the low end of this range. Sees adjusted gross margin to be 29% plus or minus 50 basis points due primarily to lower factory loadings and incrementally higher start up costs at our 8 inch wafer fab in Korea. The adjusted tax rate is forecast at 15% plus or minus 3 percentage points for the quarter.
Fairchild announces new $150M share buyback authorization Fairchild announced that its board has authorized the company to repurchase up to $150M of common stock during the next twelve months. Fairchild will repurchase shares at times and prices considered appropriate by the company.