For the quarter ended May 29, National Semiconductor posted net of $132.1 million, or 36 cents a share, against $94.2 million, or 24 cents, in the year-earlier period.
The results included several gains and charges and were helped by a tax benefit of $55.9 million. A year earlier, the company took a $30 million pre-tax litigation charge.
Sales slipped 18% to $467 million from $571.2 million. Bookings rose 12% from the third period ended Feb. 27.
In the quarter, the company said its gross-profit margin widened about 4 percentage points to 54.7% from the year-ago period.
National Semiconductor has been cutting its workforce and jettisoning parts of its business the past two years to move into higher-margin product areas. Part of the company's overall plan is to reach profit margins above 60% of sales. So far, analysts say, the company is headed in the right direction.
Looking ahead, the company said revenue will be flat to down 2% from the fourth quarter. Its gross margin is expected to stay at current levels.
**WOOOO!
D
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment