National Semi Posts $64M 4Q Loss But Tops Views

SANTA CLARA, Calif. (AP) — National Semiconductor Corp. on Thursday posted a $64 million quarterly loss, with its sales dropping 39 percent from the same period last year.

The numbers were still better than Wall Street expected, though. National Semi's chief executive, Brian Halla, said business conditions improved in the three months ended May 31. Part of the reason was smart-phone makers made more orders.

Its fiscal fourth-quarter sales were $280.8 million, better than the $273 million expected by analysts polled by Thomson Reuters. In the same period last year, revenue was $462.0 million.

Its net loss was $63.7 million, or 28 cents per share, in the latest period. Analysts expected a loss of 38 cents per share. A year ago, National Semi earned $83.2 million, or 34 cents per share.

The company, however, gave an outlook that was better than expected.

National Semi expects sale between $285 million and $305 million in the fiscal first quarter, which ends in August. Analysts expected $283 million.

The stock slipped 3 cents to $14.44 in extended trading. It finished the regular session down 24 cents, or 1.6 percent, at $14.47.