National Semiconductor Building Profit Profile
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Piper Jaffray maintained an &quot;outperform&quot; rating on National Semiconductor (nyse: NSM - news - people ), saying the company&#39;s disappointing fiscal second-quarter preannouncement is symptomatic of overall sluggish demand and excess inventories in the analog
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Semiconductor Manufacturing International Corp. (SMIC), China's largest chip maker, reported a small profit for the final quarter of 2006 as the sale of property helped put the company back into the black afterÂ heavy third-quarter losses.
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Analog chipmaker National Semiconductor Corp.  reported on Thursday its quarterly profit and revenue topped Wall Street targets, and said orders rose from the prior period, sending shares up 9 percent.
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Investors were buoyed by a strong earnings report from National Semiconductor, which provided reason for optimism that the chip sector, which had been under some pressure in recent weeks, might perform better than expected.
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(InfoWorld) - Semiconductor Manufacturing International Corp. (SMIC), China's largest chip maker, reported a small profit for the final quarter of 2006 as the sale of property helped put the company back into the black afterÂ heavy third-quarter losses. SMIC executives were buoyed by the improved quarterly results and promised more to come this year. "For 2007, the entire year, our goal is try to be profitable," said Richard Chang, SMIC's CEO, during a conference call with investors. SMIC reported fourth-quarter net income of $1.2 million on sales of $384 million. By comparison, the company reported a loss of $14.8 million on sales of $333 million during the same period one year earlier. SMIC's results also showed improvement on a sequential basis: the company reported a loss of $31.3 million on sales of $367 million during the third quarter of 2006. SMIC's slim fourth-quarter profit was due to lower operating costs during the period, which fell from $46.2 million during the third quarter to $10.6 million in the fourth quarter -- a 77 percent decline. The drop in operating expenses was made possible by a $41.7 million gain recorded during the period from the sale of properties held by the company, SMIC said. The company did not detail what properties were sold. Excluding this gain, SMIC's operating expenses during the fourth quarter were $52.3 million, up 13.2 percent over the previous period. This marks the second time that SMIC was helped into the black during 2006 by a one-time gain. During the second quarter of 2006, a $18.9 million tax credit helped push the company to a $2.2 million profit. Looking ahead, SMIC expects its first-quarter revenue to be flat compared with the fourth quarter, Chang said. The company also aims to limit capital expenditures to $720 million in 2007 and 2008.
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Apple announced second quarter financial results, with revenue of $5.26 billion and a net profit of $770 million, or $.87 per diluted share. These results compare to revenue of $4.36 billion and a net profit of $410 million, or $.47 per diluted share, in the year-ago quarter. Gross margin was 35.1%, up from 29.8% a year ago. International sales accounted for 43% of revenue.
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Micron Technology Inc. , the No. 3 computer memory chip maker, on Wednesday reported a quarterly profit on stronger pricing, reversing a year-earlier loss.
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SAN FRANCISCO Intel, the largest semiconductor maker, has reported that its profit for the third quarter rose 15 percent from a year earlier, though it continued to struggle with an inventory glut that has reduced its profit margins.
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The cardiovascular device maker said its second-quarter profit, excluding charges, was $271 million, or 18 cents per share, compared with $412 million, or 31 cents per share, a year ago.
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National City Corp. NCC.N, the No. 8  U.S. bank, on Tuesday said fourth-quarter profit rose 76  percent, as a one-time gain, increased deposit fees and fewer  bad loans offset a big drop in mortgage banking.
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Nasdaq Stock Market Inc , the second-largest U.S. equities exchange, posted a higher quarterly profit on Wednesday, helped by a gain from the sale of its stake in the London Stock Exchange.
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Standard and Poor&#39;s Equity Research reiterated a &quot;hold&quot; rating and $27 target price on Intel (nasdaq: INTC - news - people ). The research firm said the chipmaker&#39;s deal with Nvidia (nasdaq: NVDA - news - people
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US stocks were little changed on Thursday as an upbeat earnings report from chip maker National Semiconductor Corp. (NSM) sparked some buying, but higher oil prices limited gains.
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National Semiconductor Corp.  NSM.N on Thursday said it would cut about 6 percent of its  work force to reduce costs amid a chip supply glut, and will  book severance charges of between $22 million and $26 million.
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Shares for National Semiconductor Corp. rose more than 12 percent Thursday after the Santa Clara chipmaker said its net profit tripled despite a decline in demand during the summer months.
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Nvidia (nasdaq: NVDA - news - people ) announced third-quarter earnings above Wall Street estimates. The graphics chip maker reported quarterly earnings of 15 cents per diluted share and revenue of $515.
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Analog chipmaker National Semiconductor Corp. (NSM.N: Quote, Profile, Research) on Thursday posted better-than-expected quarterly earnings and revenue, as