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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (2870)	9/4/2002 12:40:54 PM
From: Proud_Infidel	Respond to of 25522

National's 1st-qtr profit in line with estimates Wednesday September 4, 12:22 pm ET SANTA CLARA, Calif., Sept 4 (Reuters) - National Semiconductor Corp., a maker of chips for flat-panel computer displays, cellular phones and other electronics devices, on Wednesday posted fiscal first-quarter results that met diminished forecasts, hurt by a slow personal computer market. Santa Clara, California-based National Semiconductor (NYSE:NSM - News) said it had net income of $1.3 million, or 1 cent a share, compared with a year-ago net loss of $54.6 million, or 31 cents, a year ago. Revenue rose to $420.6 million from $339.3 million, and was little changed from $419.5 million in the fourth quarter. Analysts had forecast a profit of 1 cent a share, within a range of break-even to 2 cents a share, on revenue of $420 million, according to tracking firm Thomson First Call. National Semiconductor warned August 1 that first-quarter revenue would be little changed from that in the fourth period, due largely to a weak PC market. Prior to the warning, it had said it expected first-quarter revenue to rise 6 percent to 8 percent from fourth-quarter levels. For the second quarter, National said it expects revenue to be "flat to down 5 percent sequentially." Gross margin will also be flat to down from the 43.3 percent in the first quarter, which was up from 43 percent in the fourth quarter.