SOUTH PORTLAND, Maine (AP) – Fairchild Semiconductor International on Thursday reported a first-quarter loss of $17.6 million on a 4 percent increase in sales.

The commodity chip maker’s loss for the three months ended March 30 translates to 15 cents per share. That compares to net income of $2.7 million, or 3 cents per diluted share, in the same period last year.

The performance for the latest quarter reflects $12.6 million in charges associated with the previously announced closure of Fairchild’s 6-inch wafer fabrication plant in Mountaintop, Pa., and other charges linked to the restructuring of its Integrated Circuits Group.

On a pro forma basis, which excludes unusual items, Fairchild posted net income of $4.5 million, or 4 cents per diluted share, compared to a pro forma net loss of $1.1 million, or 1 cent per share, in the first quarter of 2002.

The pro forma results beat the consensus forecast of 3 cents a share by analysts surveyed by Thomson First Call.

Sales for the latest quarter totaled $351.1 million, with new product sales up 23 percent. Sales for the same period last year were $336.9 million.

“We executed well on the top line in what is historically a seasonally soft quarter in the industry, with sales near the high end of our previous guidance,” said Kirk Pond, president, chief executive officer and board chairman.

Fairchild shares closed at $11.89, up 52 cents, in trading on the New York Stock Exchange.

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

—

On the Net:

http://www.fairchildsemi.com

AP-ES-04-17-03 1724EDT