National Semi’s Losses Narrow in Q3
Online staff -- Electronic News, 3/7/2002
e-insite.net
National Semiconductor Corp. today reported a third-quarter net loss of $37.8 million, or 21 cents per share, on revenue of $369.5 million.
The company’s net loss narrowed from the previous quarter when National posted a net loss of $46.6 million, or 26 cents per share. A year ago, National reported net income of $39.2 million, or 21 cents per share. Revenue rose sequentially from $366.5 million in the previous quarter but was still lower than the 475.6 million reported for the third quarter of 2001. Last year’s results included a pretax charge of $12.1 million related to National’s acquisition of innoCOMM.
However, the Santa Clara, Calif.-based company said new bookings increased 22 percent sequentially and 16 percent year-over-year.
"Our bookings momentum during the third quarter shows that our strategy and our programs are working," said Brian L. Halla, chairman, president and CEO, in a statement. "We not only increased National’s bookings by 22 percent sequentially, but we also grew orders year-over-year and had a positive book-to-bill for the first time in six quarters." |
