National Semiconductor Posts Profit

Santa Clara-based National Semiconductor Corp. said it had a profitable fiscal first quarter on wider gross margins as revenue rose and the cost of making and selling computer chips fell. The company said it had net income for the first quarter ended Aug. 24 of $70.1 million, or 47 cents a share, contrasted with a loss of $207.6 million, or $1.51, in the year-earlier quarter. The results bettered the average estimate of 36 cents a share. The year-earlier period included pretax charges of $285.6 million from the sale of its Fairchild Semiconductor division and the acquisition of PicoPower. National Semiconductor’s results bettered the average estimate of 36 cents a share by analysts. National Semiconductor shares rose $3.63 to close at $40.94 on the NYSE.