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Profit Jumps for National Semiconductor

June 06, 1997|(Bloomberg News)

National Semiconductor Corp. reported that its fiscal fourth-quarter profit from operations more than doubled as the Santa Clara-based chip maker increased new orders for its products. National reported that profit from operations for the three months ended May 25 was $66.3 million, or 43 cents a share, compared with $23.6 million, or 17 cents, in the year-earlier quarter. Excluding results for Fairchild Semiconductor, which was sold to a group including the unit's management earlier in the quarter, profit from continuing operations was $61.9 million, or 41 cents a share. The chip maker said new orders for its products rose 50% during the quarter compared with a year ago. National Semiconductor's shares lost 12.5 cents to close at $28.25 on the New York Stock Exchange.

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