National Semiconductor (NSM) dropped in pre-market trading, after reporting a fall in second quarter earnings.
The stock was down 62 cents just before 8:30 am ET, declining to $9.65. If pre-market losses hold, the stock will open at its lowest level since Friday.
After the closing bell on Monday, National Semiconductor reported second quarter EPS of $0.14 compared to $0.33 in the prior year quarter.
Net sales for the quarter declined 15% to $421.6 million from $499.0 million in the previous year quarter.
Analysts expected the company to earn $0.21 per share for the quarter on revenue of $427.32 million.
Looking ahead, National anticipates that sales in the third quarter of fiscal 2009 will be down sequentially by about 30% depending on turns orders received in the quarter. Analysts expect revenue of $385.00 million for the quarter.
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