Quarterly profit falls short at National Semiconductor
Article Abstract:
National Semiconductor's 3rd qtr 1998 earnings of $22.3 million, or 13 cents a share on a fully diluted basis, fell slightly below analysts' projections. The company blamed its performance on the Asian economic crisis and problems in boosting microprocessor production at Cyrix, which National Semiconductor acquired for about $550 million in 1997. By comparison, National Semiconductor reported $200.2 million, or $1.02 earnings for the 3rd qtr 1997. Revenue of $650.1 million represents a 9% decline from the 3rd qtr 1997's total of $712.0 million, which included a one-time gain of $202 million from the Mar 1997 sale of Fairchild Semiconductor. Analysts expected National Semiconductor to earn 17 cents a share, First Call reported. The company would have earned 16 cents a share when including a $5.2 million one-time charge related to acquiring Gulbransen's audio compression technology.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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National Semiconductor posts loss for 4th quarter; but operating earnings exceed estimates
Article Abstract:
National Semiconductor announced a loss for its fourth fiscal quarter ended May 25, 1997. The company claims the sale of one of its units, Fairchild Semiconductor, caused a number of one-time charges. The company's operating earnings were higher than anticipated by Wall Street. National Semiconductor's stock fell by $125 a share to $28.25 on the New York Stock Exchange when the loss was announced. The company reported a growth of more than 50% over the fourth quarter in 1996. National lost $14.5 million during its fourth fiscal qtr, a total of $.10 a share. During the same quarter in 1996, the company made $9.1 million, equalling $.07 a share. Excluding the costs associated with the sell off of Fairchild, the company earned $61.9 million, or $.41 a share.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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