|
National Semi beats Street
|
 |
June 8, 2000: 3:19 p.m. ET
Revenue spurt powers chip maker to 4Q profit that outpaces forecasts
|
NEW YORK (CNNfn) - Chip maker National Semiconductor Corp. on Thursday reported a better-than-expected fourth-quarter profit of $134.2 million, or 68 cents a share, excluding special items.
The results, boosted by sales of products to makers of analog and wireless devices, compared to a loss of $40 million, or 24 cents per share, for the fourth quarter of fiscal 1999.
 According to First Call, analysts had expected Santa Clara, Calif.-based National Semiconductor (NSM: Research, Estimates) to report a profit of 62 cents a share. The results beat the most optimistic projections, which ranged from 58 cents a share to 67 cents a share.
The company reported fourth-quarter revenue of $595.3 million, up from $486 million a year ago. Sales for the quarter grew eight percent from the third quarter and 32 percent year-to-year.
"Led by robust analog and wireless sales, we had an outstanding quarter," said Brian Halla, chairman, president and chief executive of National Semiconductor, in a statement. "Focus on execution drove our gross margins to 51 percent, up from 48 percent in the previous quarter," he added.
 National said it continues to see customer endorsements that validate the company's focus on its portfolio of analog-based products for wireless communications, information appliances and gigabit networking.
The quarterly year-to-year comparison excludes the Cyrix standalone PC processor business, which was sold in September 1999.
Despite the upbeat earnings news, shares of National Semiconductor slipped 2-5/8 to 61-1/2 on Thursday afternoon. 
|
|
|
|
|
|
National Semiconductor
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
