National Semiconductor Has 4th-Qtr Profit; Sales Rise (Update3)
By John Stebbins
quote.bloomberg.com
Santa Clara, California, June 6 (Bloomberg) -- National Semiconductor Corp. said it had a fourth-quarter profit, after four straight quarters of losses, because of lower costs, money from a patent dispute settlement and a tax gain.
Net income in the quarter ended May 26 was $17.1 million, or 9 cents a share, compared with a loss of $44.4 million, or 26 cents, in the year-earlier period, National Semiconductor said in a statement. Sales rose 4.6 percent to $419.5 million from $401.2 million.
National Semiconductor said it reduced selling, general and administrative expense by 6.2 percent, to $67.1 million, and it had a tax gain of $9 million. The company also received $8.9 million from the patent settlement.
``Getting back to significant profits is a high priority,' Brian Halla, chairman and chief executive, said on a conference call.
Shares of the Santa Clara, California-based company fell 22 cents to $30.44 in late trading. They have gained 8.8 percent in the past year.
`Cash Cow'
The company's chips are used in wireless devices including cell phones and pagers as well as personal computers and so-called Internet appliances that can access the Web. The company has focused on developing chips for cell phones and for flat-panel monitors that are replacing heavier TV-style displays. |
