Product category: Communications ICs (Wired)
News Release from: National Semiconductor
Edited by the Electronicstalk Editorial Team on 12 December 2001
Analogue strength boosts National
revenues
National Semiconductor has reported revenues of $366.5 million for the second quarter of fiscal 2002, an increase of 8% from the first quarter.
National Semiconductor has reported revenues of $366.5 million for the second quarter of fiscal 2002, an increase of 8% from the first quarter The company recorded a net loss of 26 cents per share for the quarter, which ended 25th November 2001, compared with a first quarter loss of 31 cents per share on revenues of $339.3 million
This article was originally published on Electronicstalk on 5 Jan 2001 at 8.00am (UK)
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In last year's second quarter National reported net income of $106.7 million, or 56 cents per share, on revenues of $595.0 million.
"Despite a tough environment during the second quarter, we grew sales 8% and continued making progress on gaining incremental business from our major customers in the handset and display markets", said Brian L Halla, National's chairman, president and chief executive officer.
"National's analogue portfolio continues to position us well in the right markets with the right partners".
National's "turns orders" (those requested for delivery within the same quarter) continued to strengthen throughout the second quarter.
This factor, combined with a strong analogue product mix and efficient manufacturing, enabled the company to increase gross margins by 3% points to 35.3%.
National also reduced its inventories and increased its cash reserves to $811 million, while maintaining an essentially debt-free balance sheet.
National's worldwide second quarter bookings grew by 5% over the summer quarter.
Most of the increase came from improvements in orders for analogue products used in wireless handsets and from seasonal orders in personal computer markets.
Bookings increased sequentially in all regions except Japan.
Year-to-year, overall bookings declined by 34%.
National's guidance is for third-quarter revenues to be comparable with the second-quarter levels, in the range $350 to $370 million.
Gross margins and operating expenses are also targeted to be in line with second quarter results.
"In the current environment, National is highly focused on driving new incremental revenue programs with our key customers", Halla said.
"As broad-based demand returns, these programmes and the leverage we get from our world class manufacturing will accelerate National's growth".
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