National Semiconductor reported sharply higher earnings for...

National Semiconductor reported sharply higher earnings for the first quarter of its fiscal year. For the 13-week period ended Aug. 30, National Semi’s revenue rose 3.2% from a year earlier. The company, which is based in Santa Clara, Calif., reported net income of $13 million, including a $1.5-million extraordinary credit, compared to a $1.4-million loss posted for the first quarter of last year. The company said both its Semiconductor Group and Information Systems Group experienced improved operating performance compared to the first quarter a year ago.