Forecast Is on Target, National Semi Says

National Semiconductor Corp. Chairman and Chief Executive Brian Halla said fiscal second-quarter sales remained on track with the financial guidance the diversified chip maker gave just five days before the Sept. 11 attacks

“We are very comfortable with the guidance that’s out there,” Halla told Reuters, referring to forecasts given to analysts in the company’s first-quarter earnings conference call.

Analysts surveyed by research firm Thomson Financial/First Call expect the company to post a loss of 31 cents a share, within a range of a loss of 24cents to 35 cents a share. Revenue is forecast to be about $357 million.

The company said in its initial guidance that it saw second-quarter sales rising 5% to 7% from the first quarter.

National Semi’s first-quarter sales fell to $339.3 million from $640.8 million a year earlier.

Shares of National Semiconductor rose 80 cents to $30.10 on the NYSE.