Electronics Production | March 11, 2011
Q3 sales decreased 12% sequentially for National Semi
National Semiconductor reported sales of USD 343.9 million and net income of USD 59.4 million, or 24 cents per diluted share, for the third quarter of fiscal 2011, which ended Feb. 27, 2011.
National’s third quarter sales were 12% lower than the USD 390.4 million in sales reported in the second quarter of fiscal 2011 due to inventory adjustments in the distribution channel and seasonally lower shipments to wireless handset customers following the holiday sales period. Sales in the third quarter of fiscal 2011 were 5% lower than the USD 361.9 million reported in the third quarter of fiscal 2010. Third quarter net income of USD 59.4 million, or 24 cents per diluted share, was a decrease from the USD 83.5 million, or 34 cents per diluted share, in the second quarter of fiscal 2011. One year ago, National reported net income of USD 53.2 million, or 22 cents per diluted share for the third quarter of fiscal 2010. Gross margin of 66.5% decreased from 68.9% in the second quarter of 2011, driven by lower factory utilization in connection with the reduced sales volume. National reported gross margin of 67.3% in the third quarter of fiscal 2010. Bookings for Q3, Fiscal 2011 National’s total company bookings in the third quarter of fiscal 2011 were approximately the same as in the preceding quarter. Bookings were up sequentially in the North America and Asia Pacific regions, and down in Europe and Japan. During the third quarter of fiscal 2011, billings exceeded bookings. Notable Items in Q3, Fiscal 2011 Third quarter fiscal 2011 results included a USD 6 million pre-tax impairment charge related to assets held for sale. This amount is included within the USD 8.2 million of total restructuring expenses associated with previously announced plant closures. Outlook for Q4, Fiscal 2011 For the fourth quarter of fiscal 2011, National projects the following: - Revenues between USD 360 - 370 million, an increase of approximately 4 - 7% sequentially - Gross margin percentage between 66 - 67% - Combined R&D and SG&A expenses between USD 132 - 138 million “As we move beyond the inventory correction, and the post-holiday slowdown in the mobile phone market, we are looking forward to resuming revenue growth,” said Don Macleod, National’s chief executive officer. “We see our power management and, in particular, energy efficiency solutions driving revenue growth in broad industrial and mobile device markets."
Gorenje reduces the number of layoffs At the end of April, due to a sharp drop in orders and revenues as a result of the COVID-19 pandemic, the Hisense Europe Group launched a redundancy program in four companies in Slovenia.
NA semiconductor equipment industry posts April 2020 billings North America-based manufacturers of semiconductor equipment posted USD 2.26 billion in billings worldwide in April 2020 (three-month average basis), according to SEMI.
AWS Electronics to wear the Incap name Following the acquisition of AWS Electronics Group by Incap Corporation in January 2020, the company's units in the UK and Slovakia will now be trading as Incap Electronics UK Ltd. and Incap Electronics Slovakia s.r.o.
PCB manufacturer SQP invests in new plasma treatment system As part of the continuous upgrade of the PCB manufacturing processes the Slovakian PCB manufacturer SQP International has invested in a new plasma treatment system.
Nordson delivers solid quarter considering COVID-19's impact on global end markets Nordson Corporation reported second quarter sales of USD 529 million, a 4% decrease compared to the prior year’s second quarter sales of USD 551 million.
Cicor expands its clean room set up in Bronschhofen Swiss EMS provider Cicor Group is currently expanding its site in Bronschhofen with a 60 square metre ISO Class 6 clean room.
Senate Dems to Trump: Release details of TSMC plant deal Democratic lawmakers are pressuring the Trump administration to respond to serious questions about Taiwan Semiconductor Manufacturing Co Ltd’s (TSMC) plans to build a USD 12 billion plant in Arizona, which the company announced last week.
SOS LAB completes series A+, inks MOU with ON Semi LiDAR sensor maker SOS LAB has secured series A+ investment funding of USD 8 million as of April.
Expanded US rules sanctioning Huawei to have little impact on memory industry TrendForce believes that the latest updates to the sanctions will have a relatively low impact, in the short term, on Huawei’s shipment of smartphones, notebook computers, and servers – products for which Huawei is relatively well stocked on components.
PCB Connect expands with new office Due to the PCB suppliers’ successful growth in Denmark, the company has now decided to invest further in the Danish Market.
Panasonic, Tesla discuss beefing up Nevada battery plant Panasonic Corporation this week said strong demand for battery cells from its U.S. partner, Tesla, has led to negotiations on the expansion of their joint plant in Storey County, Nevada.
Flex taps new leadership for automotive business Flex has named Mike Thoeny, president, Automotive Business Group, effective June 1, 2020.
Current pandemic slows down business development in German component distribution German distribution of electronic components (according to FBDi e.V.) continues to decline in the first quarter of 2020. The order situation improves slightly, at a low level. The FBDi calls for future-oriented course-setting and investments in infrastructure.
Progress is being made for BMW’s new plant in Hungary Preparations for the future BMW Group plant in Debrecen, Hungary, have reached important milestone. Following successful preparation of the land by the City, the official handover process has now started.
GKN Aerospace and Eviation ink collaboration deal on all-electric aircraft The collaboration agreement covers the design and manufacture of wings, empennage and electrical wiring interconnection systems (EWIS) for Alice, a regional electric aircraft recently launched by Eviation.
Variosystems provides an update on its operations The EMS provider has provided an overview of the operational status of its manufacturing locations.
VisIC partners with ZF for next-gen EV Inverters ZF Friedrichshafen AG and VisIC Technologies Ltd., are partnering to create the next generation of high-performance and high-efficiency electric drivelines for vehicles.
Will TSMC bring other players to the US? TSMC’s expansion plan in the U.S. may be accompanied by other actors in 12-inch supply chain too, says TrendForce.
Cicor updates its outlook due to COVID-19 Swiss EMS provider, Cicor Technologies, is updating its outlook for the results of the first half-year 2020, as the effects of the global pandemic is becoming increasingly apparent.
IPC: health of EMS industry germane to success of U.S. economy IPC’s recently published report, The Economic Impacts of the U.S. Electronics Manufacturing Sector, confirms the robust role that electronics manufacturing plays in the U.S. economy, as well as the impacts of COVID-19 that manufacturers and suppliers are most concerned about.
Global silicon wafer area shipments edge up in 1Q20 Worldwide silicon wafer area shipments rose 2.7% to 2,920 million square inches in the first quarter of 2020, compared with fourth-quarter 2019 shipments of 2,844 million square inches, but dropped 4.3 percent year-over-year, the SEMI Silicon Manufacturers Group (SMG) reported in its quarterly analysis of the silicon wafer industry.
Darekon invests in its production A sharp increase in demand has prompted Finnish EMS provider Darekon to take rapid action to grow its capacity.
U.S. Government extends Huawei ban into 2021 President Donald Trump has said the ban prohibiting U.S. companies from doing business with companies deemed a national security risk will continue through at least May 2021.Load more news