SANTA CLARA, Calif. -- National Semiconductor Corp. today reported an 8% sequential increase in revenues to $366.5 million in the company's fiscal second quarter, ended Nov. 25, compared to $39.3 million in the prior quarter. National's net loss totaled $46.6 million in the just-ended quarter, compared to a loss of $54.6 million in the prior quarter.
The Santa Clara chip maker's net loss of $0.26 per share beat Wall Street's earnings consensus of a loss at $0.31 per share, according to First Call/Thomson Financial.
"Despite a tough environment during the second quarter, we grew sales 8% and continued making progress on gaining incremental business from our major customers in the handset and display markets," said Brian L. Halla, chairman, president and chief executive officer of the company. He credited National's analog portfolio for helping the company position for growth in the next upturn.
National Semiconductor said it expects revenues in the current fiscal third-quarter period to be comparable with the Q2 levels, in a range of $350-to-$370 million. Gross margins and operating expenses are also targeted to be in line with the fiscal second quarter results, the company said.
In the fiscal second quarter, National's "turns orders"--bookings for products that are delivered in the same quarter--continued to strengthen throughout the three-month period, according to the company. Total bookings in the quarter grew sequentially by 5% over the prior three-month period, but were down 34% from a year ago.
National said fiscal Q2 orders increased sequentially in all regions except Japan. Most of the increase came from improvements in orders for analog products used in wireless handsets and from seasonal orders in personal computer markets, the company reported.