This excerpt taken from the NSM 8-K filed Jul 20, 2009.
SANTA CLARA, Calif., July 20, 2009 -- National Semiconductor Corp. (NYSE:NSM) today announced the election of Roderick C. McGeary to the board of directors. McGeary, 59, is Chairman of the Board of BearingPoint, Inc., one of the world’s largest providers of management and technology consulting services.
In addition to his role as Chairman, he has served as interim Chief Executive Officer (CEO) of BearingPoint, Inc. from 2004 to 2005. He was CEO of Brience, Inc. from 2000-2002 and was also Managing Director of KPMG Consulting LLC, a subsidiary of BearingPoint, Inc. (formerly KPMG Consulting, Inc.).
Mr. McGeary serves on the board of directors of Cisco Systems, Inc. and Dionex Corporation. He is a certified public accountant and holds a bachelor’s degree in accounting from Lehigh University.
This excerpt taken from the NSM 8-K filed Mar 23, 2009.
SANTA CLARA, Calif. March 19, 2009 -- National Semiconductor Corp. (NYSE:NSM) announced today it has acquired Act Solar, Inc. a privately held solar energy company that provides power optimization solutions for commercial and utility-scale solar installations.
With the acquisition of Act Solar, National expands its portfolio of power optimization technologies along with the acquisition of new diagnostics and panel monitoring capabilities for solar arrays.
National Semiconductor is applying its PowerWise capabilities to drive new energy generation and efficiency initiatives in the solar panel marketplace, said Mike Polacek, senior vice president of Nationals Key Market Segments. Now with Act Solar we can further improve the performance and efficiency of solar systems, at the same time providing monitoring capabilities not available before. This will make solar installations more efficient and ultimately reduces the cost of solar energy for everyone.
Nationals SolarMagic technology enhances the efficiency and output of solar arrays when the panels are affected by mismatch issues including shade, debris, different panel types, and panel aging. Panel mismatch can disproportionately impact the output of a solar installation. For example, an entire solar arrays energy output can be reduced by half if just 10 percent of one
solar panel is shaded by a tree, chimney or rooftop vent. Recent internal testing showed that Nationals SolarMagic power optimizers recovered 57 percent of power lost due to shade, thereby enhancing the solar installations output and efficiency. SolarMagic power optimizers begin shipping this spring.
Act Solar now becomes part of the SolarMagic family. Its products improve array performance by 6 to 11 percent using patent-pending technology, complementing central inverters by dynamically re-circulating small amounts of energy as needed. The balance of the array is maintained, assuring maximum power output. The technology utilizes a revolutionary technique for power tracking, which works by injecting energy into the string as opposed to traditional DC-DC voltage converting approaches. Early field tests and historical modeling have shown that this solution can cumulatively deliver 40 to 80 percent more power over the operating life of a solar panel installation.
This excerpt taken from the NSM 8-K filed Mar 11, 2009.
SANTA CLARA, Calif. March 11, 2009 National Semiconductor Corp. (NYSE:NSM) today reported sales of $292 million and net income of $21.1 million, or 9 cents per diluted share, for the third quarter of fiscal 2009, which ended March 1, 2009. In Nationals second quarter of fiscal 2009, the company reported $422 million in sales and $36 million in net income or 16 cents per diluted share. Gross margin of 57.5 percent in Nationals third quarter of fiscal 2009 was down from the 65.8 percent gross margin achieved in the second quarter of fiscal 2009.
Compared to last year, sales decreased approximately 36 percent from the $453 million reported in the third quarter of fiscal 2008, and earnings per diluted share declined from the 29 cents recorded one year ago. Gross margin decreased from the 64.3 percent reported in the third quarter of fiscal 2008.