National Semiconductor Corp., one of the nation`s largest manufacturers of semiconductor chips, reported lower sales and a loss for its fourth quarter ended May 31.
The Santa Clara, Calif., company reported a net loss of $2.7 million versus net income of $24.4 million, or 28 cents a share, in the year-earlier period.
The results included an extraordinary credit of $3.8 million, or 4 cents a share, for the latest quarter and $7.8 million, or 9 cents a share, in the 1984 quarter. Fourth-quarter sales were $428.6 million, down 9 percent from $470.8 million in the year-earlier period.
”Our fourth-quarter results in our semiconductor division were (hurt) by reduced demand and intense pricing pressure, resulting in lower sales,” said Charles Sporck, president and chief executive officer. However, he added that the company`s National Advanced Systems, a computer systems manufacturer, experienced record sales and earnings for the fourth quarter and fiscal year. For the fiscal year, National Semiconductor had earnings of $43.2 million, or 48 cents a share, down from $64 million, or 75 cents a share, in fiscal 1984. The yearly results included an extraordinary credit of $8.8 million, or 10 cents a share, in 1985, and $7.8 million, or 9 cents a share, in 1984.
Sales for the year were a record $1.79 billion, up from $1.66 billion in 1984.
