National Semiconductor Cuts Revenue Forecast

National Semiconductor Corp., a maker of chips for cell phones, flat-panel displays and other electronics devices, warned that fiscal first-quarter revenue will be unchanged from the fourth quarter because of a weak personal computer market.

Santa Clara, Calif.-based National Semiconductor recorded revenue of $419.5 million in the fourth quarter. Analysts had forecast revenue of $441.4 million for the first quarter ending in August, according to tracking firm Thomson First Call. National Semi posted revenue of $339.3 million in the year-ago first quarter.

When National Semi reported fourth-quarter results June 6, it said it expected revenue to rise 6% to 8% from fourth-quarter levels. National Semi said order rates were lower than expected in June, particularly for PC and related peripherals such as computer monitors and flat-panel displays.

National Semi fell 98 cents, or 5.4%, to $17.13 on the New York Stock Exchange before the revenue warning. After the close, shares slipped to $16.