National Semiconductor revenue up 42 pct in 4Q

June 10, 2010

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SANTA CLARA, Calif.—National Semiconductor Corp., which makes chips for power management, signal amplification and other uses, on Thursday said its revenue rose nearly 42 percent in its fiscal fourth quarter as demand rebounded after the recession.

The company reported net income of $79.2 million, or 33 cents per share, on $398.5 million in revenue for the quarter ended May 30. That compares with a loss of $63.7 million, or 28 cents per share, on $280.8 million in revenue in the same period a year earlier.

Analysts polled by Thomson Reuters expected income of 28 cents per share on $384.1 million in revenue.

Demand for chips for cell phones and industrial uses drove sales in the quarter, CEO Don Macleod said in a statement. He expects those customers to spur further sales increases this quarter.

For the full fiscal year, National Semiconductor reported net income of $209 million, or 87 cents per share, on $1.42 billion in revenue. In the previous year, earnings were $73 million, or 31 cents per share, on revenue of $1.46 billion.

National Semiconductor said it expects fiscal first-quarter revenue between $410 million and $418 million. Analysts predict revenue of $391 million.

The company's shares rose 42 cents, or 3.2 percent, to close at $13.53.