National's profits down, Asian economies blamed

National’s profits down, Asian economies blamed
Tom Foremski
National Semiconductor is the latest in a line of major electronics firms to report lower than expected profits due to the Asian currency crisis, saying that third quarter profits were $26.2m.
A consensus of Wall Street analysts had expected profits to be slightly higher. National’s sales for the third quarter were $650.1m compared with $564.5m for the same quarter one year ago.
“Market conditions due to the Asian economic crisis, and difficulties in ramping up adequate volumes of new products in our recently acquired Cyrix subsidiary impacted our results in the quarter,” said National CEO Brian Halla.
He added that National had managed to increase Cyrix microprocessor production and that it expects to be able to meet customer demand through the fourth quarter.

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