National reports Q3 results
National Semiconductor has announced sales of $343.9million and net income of $59.4m for the third quarter of fiscal 2011. The figures represent a 12% decrease in sales from the $390.4m reported in the second quarter of fiscal 2011 and a year on year reduction of 5%.
Gross margin of 66.5% also decreased from 68.9% in the second quarter of 2011, which the company believes was caused by lower factory utilisation in connection with the reduced sales volume. For the fourth quarter of fiscal 2011, National projects revenues between $360 and $370m, an increase of approximately 4 to 7% sequentially.
"As we move beyond the inventory correction, and the post holiday slowdown in the mobile phone market, we are looking forward to resuming revenue growth," said Don Macleod, National's ceo. "We see our power management and, in particular, energy efficiency solutions driving revenue growth in broad industrial and mobile device markets."
