On September 7, the company had forecast a sequential decline of 2% to 5%. The company previous said that 4 percentage points of the decline would be due to previously disposed of foundry businesses. The company still sees a similar hit from the foundry business. “The downward revision in revenue outlook is primarily due to lower-than-expected shipments to wireless handset customers,” the company said. National says gross margin will be between 59 and 60 percent; it had previously expected a number above 60 percent.
In after hours trading, National is down 59 cents to $23.36.