Fairchild Semiconductor announced results for the fourth quarter and full year ended December 26, 2010. Fairchild reported fourth quarter sales of $397.7 million, down 4% from the prior quarter and 12% higher than the fourth quarter of 2009.
Fairchild reported fourth quarter net income of $51.0 million or $0.40 per diluted share compared to $35.8 million or $0.28 per diluted share in the prior quarter and $13.1 million or $0.10 per diluted share in the fourth quarter of 2009. Gross margin was 37.0% compared to 36.4% in the prior quarter and 29.7% in the year ago quarter.