Anticipates Q4 revenues to be in range of $375m and $390m
National Semiconductor has reported net sales of $362m for the third quarter of fiscal 2010, an increase of 24% compared to $292m for the same period last year. Sales were up 5% sequentially.
The company’s gross margin increased to $243.7m from $168.1m a year ago. Operating income for the quarter was up to $86m from $30.3m in the third quarter of fiscal 2009.
For the third quarter ended February 28, 2010, the company posted a net income of $53.2m, or $0.22 per diluted share, an increase from $21.1m, or $0.09 per share compared to the same period last year. For the second quarter of fiscal 2010, the net income was $47m, or $0.2 per share.
Don Macleod, president and CEO of National Semiconductor, said: “Driving revenue growth is our new charter here at National Semiconductor. Our sequential and year-on-year revenue growth demonstrates top-line improvement, driven by both our core analog business and traction in several new emerging areas.”
National Semiconductor anticipates revenues to be in range of $375m and $390m, up approximately 4% to 8% sequentially in the fourth quarter of fiscal 2010.