National Semiconductor reports sales of $345million
National Semiconductor has announced sales of $345million for its second fiscal quarter – up 10% from Q1 – but down 18% year on year.
The analogue power management specialist also quoted a net income of $47m – an increase from the $29.8m in Q1 and year on year, an increase of $10.7m.
Driven primarily by higher order rates from distributors serving industrial markets, National says its total company bookings increased 17% sequentially in the second quarter, with bookings exceeding billings in the quarter.
Don Macleod (pictured), National's chief executive officer, said: "New order rates for our analogue products continued to improve each month through the second quarter, giving us a higher opening backlog for the new quarter. Now that we have restored our gross margins back over the 65% threshold, we can put even more of our focus on revenue growth going forward."
