National Semiconductor Takes $149-Million Charge

National Semiconductor Corp. will charge $149.3 million against its first fiscal quarter earnings for a restructuring aimed at consolidating underused plants, the company said Tuesday.

The company came back from a string of losses, posting earnings of between $3.5 million and $5.6 million in the past three quarters. The company would only say the effect of the charge would bring operating results under analysts’ expectations.

Analysts have predicted the company would either post a slight profit or a loss of 5 cents per share in the first fiscal quarter, which ended Aug. 25, company spokeswoman Mary Coady said.

Gilbert F. Amelio, president and chief executive officer, said the chip manufacturer would “reshape its manufacturing structure.”

But the company revealed no specific plans, and Coady declined to comment on whether layoffs were planned. National Semiconductor employs 29,800 people worldwide. Coady said there were no plans for discontinuing any product lines.

The restructuring of worldwide manufacturing operations will occur over several years, Amelio said.

“As a consequence of this activity, the company expects to significantly lower its cost structure. Ultimately, these actions will leave National Semiconductor well positioned for profitability,” he added.

Earnings for the quarter will be released within three weeks, the company said.