National Semiconductor reported sales for the quarter ending Feb 28th 2010 of $362m, up 5% from the previous quarter, and up 24& from the same quarter last year. Gross margin was 67.3%, up from 65.3% in Q2 and 57.5% in last year's Q3.
For the March/April/May quarter, National expects sales to be between $375m and $390m – up from 4% to 8% sequentially.
"Driving revenue growth is our new charter here at National Semiconductor," said Don Macleod, National’s president and chief executive officer, "our sequential and year-on-year revenue growth demonstrates top-line improvement, driven by both our core analogue business and traction in several new emerging areas."
National reported stronger demand for analogue products in industrial markets, served primarily through distributors. Sales to wireless handset customers were down seasonally following the holidays.
The net income for the quarter to the end of February was $53.2m, up from the $47m of the previous quarter, and the $21m of the same quarter a year ago.
A stronger product mix from higher sales into industrial markets drove gross margin improvement in the quarter, said National. In addition, the company continued to improve its manufacturing cost performance. Gross margin of 67.3% in the quarter increased from the 65.3% gross margin achieved in the previous quarter and the 57.5% gross margin for the same quarter a year ago.
National’s total company bookings increased 5% sequentially, as order rates increased from direct OEM customers as well as from distributors. Bookings exceeded billings in the quarter.
"Driving revenue growth is our new charter here at National Semiconductor," said Don Macleod, National’s president and chief executive officer, "our sequential and year-on-year revenue growth demonstrates top-line improvement, driven by both our core analogue business and traction in several new emerging areas."