Fairchild Semiconductor today reduced its revenue projections for the fourth quarter because of a decline in orders.

The South Portland semiconductor manufacturer now expects revenue will drop 16%-21% in the fourth quarter, rather than the previously projected dip of 6%-12%. Its projected revenue in the fourth quarter is now set at between $338 and $360 million, and its gross margin is expected to be down 100-200 basis points, according to RTTNews.

In light of the sharp decrease in orders, company officials told RTT they are trying to rapidly reduce inventories and limit operating expenses, capital spending and product development.