National Semiconductor Rises After Beating Street
National Semiconductor (NSM) was up 2.7% in early afternoon after it posted a fiscal fourth-quarter loss of 26 cents per share including charges. On an operating basis, the chipmaker broke even. The Thomson Financial/First Call estimate was for a loss of 3 cents per share. It earned 68 cents per share a year ago.
The company said it was hurt by the same glut that is affecting the entire chip industry, but it added the worst may be past because orders picked up in May.
National Semi also said gross margins will decline in the first quarter and it expects loss of 30 to 35 cents per share in the period. The Street's estimate is a 1-cent loss.
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