National Semiconductor Corp. (NYSE: NSM), which will hold its annual shareholder meeting later this month, is scheduled to discuss its fiscal first-quarter 2010 results Thursday in a conference call at 4:30 PM ET, featuring CEO Brian Halla, President Don Macleod, and CFO Lewis Chew. See the company's website to find out how to dial in to the call or to catch the live webcast of it.
For the three months that ended in August, analysts surveyed by Thomson Reuters expect the Santa Clara, California-based company to report that its earnings fell 78.8% from a year ago to 7 cents per share, but swung from a smaller-than expected net loss in the previous quarter. Revenue for the first quarter is expected to have fallen 35.5% from a year ago to $300.5 million.
So far, analysts expect modest sequential growth in the second quarter. The full-year forecast is for a profit of 40 cents per share (+22.5%) on sales of $1.3 billion (-14.3%).
The long-term EPS growth forecast is 13.0%, which is much better than that of rival Texas Instruments Inc. (NYSE: TXN). Its earnings multiple is 38x; the technology sector earnings multiple is 31x. The First Call consensus recommendation remains to hold NSM, but iStockAnalyst expects this dividend-paying company to top consensus estimates.
National Semiconductor shares are about 8% higher than three months ago, but they are still about 11% lower than a year ago.
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