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National Semiconductor (NSM) is expected to report Q2 earnings Monday Dec. 8 after market close, with a conference call scheduled for 4:30 pm ET.

Guidance

The consensus estimate is 21c for EPS and $427.45M for revenue, according to First Call. On Nov. 12 National Semi lowered its Q2 revenue guidance to $420M-$425M.

Analyst Views

RBC Capital believes that National Semi is caught in an inventory squeeze in-line with its peers. The firm's Q2 estimates were recently taken to the low-end of guidance. Going forward, RBC's channel checks show no let up in the deteriorating run rate exiting November. Major OEMs continue to squeeze inventory weeks, more so than distributors, said RBC. Handset orders continue to weaken in-line with the industry, with all the majors cutting back sharply. RBC's checks show orders from majors in some regions have virtually disappeared. RBC Capital recently lowered its Q3 estimates to $335M and 6c.

Source: Earnings Preview: National Semiconductor