Fairchild Semiconductor, a major employer in South Portland, saw its sales fall 3% in the third quarter over the same period last year.
President and CEO Mark Thompson attributed the drop to weaker demand in computer and consumer products, as well as the appliance and solar technology markets, in addition to the expected seasonal drop in demand for industrial and automotive components, according to a press release. The company did see double-digit sales growth for its mobile analog products. Fairchild also reported third-quarter sales of $403.2 million, a 7% drop from the second quarter of the year. Net income was $35.8 million, down from $44.9 million the same quarter last year. Thompson said the company plans to better manage distribution through the end of the year, allowing the company "to exit this year with a leaner inventory position and be ready to grow sales again in 2012."
Fairchild used to be headquartered in South Portland, but in March transferred its headquarters to Silicon Valley to better align itself with other leading technology companies. The company still maintains its corporate office in South Portland and the shift did not result in staffing or operations changes.