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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (114787)	10/23/2000 5:46:24 PM
From: Tony Viola	Respond to of 186894

NSM again, lovely, they warned for two quarters. The way it's worded, sounds like inventory corrections being made by some of our customers in the mobile phone market is the main culprit. Below sounds like a half empty, half full glass statement. Intel already did forecast 4 to 8% sequential for Q4, which is less than traditional. Bookings for personal computer products have strengthened, but at a lower rate than seasonally expected. National Semiconductor Foresees Lower Sales and Earnings For the Second Quarter of Fiscal 2001 SANTA CLARA, Calif.--(BUSINESS WIRE)--Oct. 23, 2000--National Semiconductor Corporation (NYSE:NSM - news) today announced that sales and earnings for the company's second quarter of fiscal 2001, ending November 26, 2000, and third fiscal quarter, ending February 25, 2001, may be below those of the recently completed first quarter. Earnings per share, excluding the effects of one-time charges, were 76 cents on sales of $641 million in the first quarter of fiscal 2001, which ended August 27, 2000. The company now expects second quarter sales to decline between 6 and 8 percent from the first quarter and to resume sequential growth in the third quarter. This may result in a drop of approximately 2.5 percentage points in gross margin from the 53 percent in the first quarter and a corresponding decline in earnings per share on unchanged operating expenses from the company's previous outlook. Shipments in the current quarter will be impacted by inventory corrections being made by some of our customers in the mobile phone market. Bookings for personal computer products have strengthened, but at a lower rate than seasonally expected. National Semiconductor will host a conference call related to this announcement at 8:45 am EDT on Tuesday, October 24, 2000. Call-in numbers are: West Coast (415) 904-7312; and East Coast (212) 346-0273. Participants will be Chief Executive Officer Brian Halla and Chief Financial Officer Don Macleod. The conference call will be webcast simultaneously at: www.national.com/invest. This outlook contains forward looking statements dependent on a number of risks and uncertainties, including such factors as, but not restricted to, new orders received and shipped during the remainder of the second quarter, the degree of factory utilization, the successful sale of existing inventories, and the ramp up of recently introduced products. Other risk factors are included in the company's 10Q from the first quarter ended August 27, 2000 and the 10-K for the year ended May 28, 2000 (see Outlook section of Management's Discussion and Analysis of Result of Operations and Financial Conditions) and the Annual Report dated May 28, 2000.