National Semiconductor Corp. reported sales of $390.4 million and net income of $83.5 million, or 34 cents per diluted share, for the second quarter of fiscal 2011, which ended Nov. 28, 2010. National’s second quarter sales were 5% lower than the $412.0 million in sales reported in the first quarter of fiscal 2011 due to lower demand from OEMs and distributors in all regions. Sales in the second quarter of fiscal 2011 were 13% higher than the $344.6 million reported in the second quarter of fiscal 2010.
Second quarter net income of $83.5 million, or 34 cents per diluted share, was a decrease from the $88.8 million, or 36 cents per diluted share, in the first quarter of fiscal 2011. One year ago, National reported net income of $47.0 million, or 20 cents per diluted share. Gross margin of 68.9% decreased from 70.9% in the first quarter of 2011, which had set a record for the company. National reported gross margin of 65.3% in the second quarter of fiscal 2010.