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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: KMcKlendin who wrote (12375)	11/4/2003 11:40:11 PM
From: The Ox	Respond to of 95442

Wireless strength prompts National to raise quarterly forecast Silicon Strategies November 4, 2003 (8:55 p.m. ET) SANTA CLARA, Calif. — National Semiconductor Corp. raised its revenue outlook for the second quarter of fiscal year 2004 ending Nov. 23. The company's revised expectation is for second-quarter revenue to grow 7 to 10 percent from first quarter revenue of $424.8 million. National's guidance at the beginning of the quarter was for second-quarter revenues to increase by 4 to 7 percent sequentially. "Turns orders have come in stronger than anticipated in our original guidance," Brian Halla, National's chairman, president and CEO, said in a statement. "We began this quarter with a solid backlog position and order rates have continued to be strong across a number of our product lines, especially in areas such as power management and wireless." National's second quarter financial announcement is scheduled for Dec. 4. National moved back into the black, reporting a profit of $29.7 million, or 15 cents per share, on flat revenues of $424.8 million for the first quarter of fiscal 2004, which ended Aug. 24. The first quarter net profit included special charges of $12.6 million, primarily for severances and asset impairments, and a $1.9 million net charge for implementing FAS 143, a new accounting standard. These charges were partially offset by miscellaneous gains of $9.1 million. In the previous quarter, National posted a loss of $4.4 million, or minus 2 cents a share, on sales of $425.3 million. The chip maker, based here, posted a profit of $1.3 million, or 1 cent a share, on sales of $420.6 million in the like period a year ago.