National Semiconductor (NYSE: NSM) late Thursday reported that its fiscal fourth-quarter profit declined to $67.1 million, or 26 cents a share, from $79.2 million, or 33 cents a share, in the prior-year quarter. Revenue dropped to $374.1 million from $398.5 million. Analysts, on average, had expected earnings of 27 cents a share on revenue of $365.2 million.
"Business conditions were a little better than we expected in the quarter," said Don Macleod, National's chief executive officer. "With bookings up 21%, the first increase for three quarters, we were able to get back to meaningful quarterly revenue growth."
Full disclosure: None.
