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National Semi profit beats guidance
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(09/08/2005 1:32 PM EDT)
URL:
http://www.eetimes.com/showArticle.jhtml?articleID=170701534
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MANHASSET, N.Y. — National Semiconductor Corp. reported net earnings of $85.6 million, or 24 cents per share on revenue of $493.8 million the first quarter of fiscal 2006 ended Aug. 28, 2005.
National (Santa Clara, Calif.) was projected to earn 21 cents a share on sales of $465 million, according to analysts surveyed on Thomson First Call.
On a sequential basis, National's revenue rose 5.7 percent from the fourth quarter, when the company earned 36 cents per share on sales of $467 million. But sales declined 10 percent from the first quarter of fiscal 2005, when the company reported sales of $548 million, and net earnings of $117.7 million, or 31 cents per share.
First quarter gross margin rose 1.5 percent to a 56.2 percent, which the company attributed to increased sales of higher-value analog products.
"Our business was stronger than expected in the first quarter," said Brian Halla, National's chairman and chief executive, in a statement. "Sales were up, bookings were up and our backlog was up going into the second quarter. Overall, we're seeing strong demand for analog products, particularly from our wireless and flat panel display customers."
For the second fiscal 2006 quarter, National expects sales to rise 5 percent sequentially, with flat to slightly higher gross margins.
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