Thursday, March 9, 2006
National Semiconductor Corp. reported revenues of $547.7 million for its fiscal Q3 ended February 26, marking a 22 percent increase from the $449.2 million revenues recorded in fiscal Q3 2005, and less than 1 percent higher sequentially than the $544 million in revenues reported for fiscal Q2.
During the quarter, revenues from broader markets served through National’s distribution channel were strong, which more than offset an expected seasonal decline in revenues from products that serve wireless handsets, the company noted.
Fiscal Q3 GAAP net income was $130.1 million or 37 cents per share,13 percent higher sequentially and 68 percent higher year-to-year. National previously reported net income of $114.7 million, or 32 cents per share, for the prior quarter and $77.4 million, or 21 cents per share, for fiscal Q3 2005.
National said its profitability improvement was driven primarily by a significant increase in quarterly gross margin, which exceeded the 60 percent milestone for the first time in the company’s history.
Looking ahead to fiscal Q4, National anticipates that revenues will grow 2 to 4 percent during the quarter. In this revenue range, gross margin percentage would also be expected to improve slightly in Q4.
By: DocMemory
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