National Semi’s Loss in Line With Estimates

National Semiconductor Corp. reported a fiscal first-quarter loss that was in line with analysts’ expectations as sales fell 40%. National Semiconductor, one of the world’s largest computer chip makers, said the decline in prices and demand “may have touched bottom” as bookings in the quarter rose 7% from the fourth quarter, the first increase in new orders in a year. For the three months ended Aug. 30, National reported a loss of $104.8 million, or 63 cents a diluted share, contrasted with net income of $62.6 million, or 38 cents a share, a year ago. Sales fell to $469.6 million from $656.7 million a year ago. The company had been expected to lose 63 cents. Shares of Santa Clara-based National fell 31 cents to close at $8.94 on the New York Stock Exchange.