National Semiconductor Beats Estimates, but Sees Slowing Revenue

National Semiconductor(NSM Quote) posted second-quarter earnings that topped analysts' expectations by a nickel, despite the impact of inventory corrections in the mobile phone market and slower demand in the PC market, but warned that revenue would likely slow in the third quarter.

The computer chip maker earned $106.7 million, or 56 cents a share, compared with earnings of $70.4 million, or 37 cents a share, in the same period last year. Analysts polled by First Call/Thomson Financial expected second-quarter earnings of 51 cents a share.

Revenue for the quarter rose to $595 million from $513.9 million last year. ...