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Nat'l Semi profits surge
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December 9, 1997: 3:55 p.m. ET
Chipmaker beats 2Q Wall Street estimates by 3 cents a share
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NEW YORK (CNNfn) - National Semiconductor Corp. Tuesday reported its fiscal second-quarter earnings rose to $72.5 million, or 46 cents a share, just beating out Wall Street's expectations.
Analysts surveyed by the First Call Research Network had forecast per-share earnings of 43 cents.
Sales for the quarter, ended Nov. 23, were $640.3 million.
Those earnings don't reflect a one-time charge of $25.8 million related to National's merger with Cyrix Corp. and acquisition of Future Integrated Systems.
Net income for the year-earlier quarter was $21.8 million, or 14 cents per share, on sales of $507.5 million.
"I'm pleased with another quarter of strong growth in which our core business revenues increased by 26 percent over last year's second quarter, led by 36 percent growth in analog sales," said Brian L. Halla, National's president and chief executive officer.
The chipmaker's worldwide orders grew nearly 10 percent over last year's second quarter. Audio and video products also gained significantly.
Wireless orders dropped from the fiscal first quarter but still grew more than 50 percent over last year. Power management products in particular significantly exceeded company growth totals.
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