Friday, June 12, 2009

National Semi Has Nothing to Say

National Semiconductor (NYSE:NSM) today reported sales of $281 million and a net loss of $64 million for Q4. They issued guidance for Q1 in the range of 2% to 9% increase sequentially. They included some comments about restructuring costs which means they closed several facilities and 850 people lost their jobs. The only qualitative comment about the future was

"Business conditions improved through the quarter. We saw increasing orders from our wireless handset customers as they began ramping production of new smartphone models," said Brian L. Halla, National's chairman and CEO. "We are well positioned to enable greater energy efficiency in a wide range of products with our analog and power management circuits."

No other comments, substantive insights or executive commentary was made available. Basically they threw some numbers up on the wall and are letting everyone else fend for themselves. Poor communications certainly. When the executive suite shuts down this much, they usually have a lot to say, but do not want to say it.