Fairchild Semiconductor Announces $100M Share Buyback Program

Fairchild Semiconductor

announced today that its Board of Directors has authorized the repurchase of up to $100 million of the company's common stock. Fairchild will repurchase shares from time to time in the open market or in privately negotiated transactions. “We are excited to initiate this enhanced share repurchase program as an efficient method to return excess cash to our shareholders,” said Mark Thompson, Fairchild's chairman and CEO. “Fairchild has consistently reduced debt and strengthened its balance sheet during the last five years. We completed a significant investment cycle to increase our 8 inch wafer fabrication capabilities last year and now expect lower capital spending