Fairchild Semiconductor International Inc., the maker of chips for cell phones, said first-quarter profit more than doubled as sales increased.
Net income jumped to $17.1 million, or 14 cents a share, from $6.3 million, or 5 cents, a year earlier, the company, based in South Portland, Maine, said in a statement. Sales rose 1 percent to $406.3 million, on the low end of its prediction of $406 million to $423.3 million.
The company had record sales for Smart Power Modules and expects the trend to continue, Chief Executive Officer Mark Thompson said in the statement.
Excluding restructuring, acquisition and other costs, Fairchild Semiconductor earned $23.2 million, or 19 cents a share, compared with $20.1 million, or 16 cents, a year earlier.
Fairchild has a manufacturing facility in West Jordan.