Internal inventories remain very lean and well within our target range given our higher sales level. Our $23 million in capital spending for the quarter keeps us within our annual budget of 6 - 8% of sales. |
Our strong first quarter results and guidance for sequentially higher daily shipments and gross margin for the second quarter provide more evidence of the progress Fairchild is making at improving the quality of our business. I'm personally excited to be part of this great team and to help lead the powerful transformation that is underway at Fairchild. |