Product category: Communications ICs (Wired)
News Release from: National Semiconductor
Edited by the Electronicstalk Editorial Team on 11 June 2002
National Semiconductor back in the black
National Semiconductor has reported net income of $17.1 million on revenues of $419.5 million, or nine cents per share for its fourth quarter of fiscal 2002, which ended on 26th May 2002.
National Semiconductor has reported net income of $17.1 million on revenues of $419.5 million, or nine cents per share for its fourth quarter of fiscal 2002, which ended on 26th May 2002 Excluding a tax refund of $11.5 million, National reported net income of $5.6 million, or three cents per share, for the quarter, compared with break-even results in the comparable quarter last year that excluded certain net charges
This article was originally published on Electronicstalk on 5 Jan 2001 at 8.00am (UK)
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The company said revenues were up 13.5% sequentially and 4.6% over the comparable quarter a year ago, when National reported a net loss of $44.4 million, or 26 cents per share on revenues of $401.2 million.
"It's great to get back in the black", said Brian L.
Halla, chairman, president and CEO of National Semiconductor.
"National's clear focus on our target markets, such as wireless handsets and displays, should continue to drive our profit growth and momentum".
"Going forward, our bookings strength and stronger opening backlog position us well for continued improvement", Halla added.
Total company bookings increased by 19% over the third quarter and by 71% over the previous year's fourth quarter.
Analogue product bookings were up by over 20% sequentially, led by audio products, amplifiers and power management.
Wireless application specific products grew at about the same rate as the overall company over the third quarter and more than doubled last year's order levels.
Information Appliance bookings, which include products for thin clients, notebooks and DVDs, also grew sequentially in the high-30% range.
Bookings for the Asia Pacific region grew almost 30% over the third quarter and represented nearly half of total company bookings in the fourth quarter.
Total company bookings exceeded billings in all geographic regions for the second quarter in a row.
For the first quarter of fiscal 2003, the company's guidance is for sales to increase by 6 to 8% sequentially.
Gross margin percentage is expected to improve to a range of 44 to 45% as factory usage continues to rise to meet higher demand.
For the year, National reported a net loss of $121.9 million, or 69 cents per share on revenues of $1.49 billion.
This compares with net income for fiscal 2001 of $245.7 million, or $1.30 per share (diluted) on revenues of $2.11 billion.
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