UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 13, 2005
NATIONAL SEMICONDUCTOR CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-6453 95-2095071
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(State of Incorporation) (Commission (I.R.S. Employer
File Number) Identification Number)
2900 SEMICONDUCTOR DRIVE, P.O. BOX 58090
SANTA CLARA, CALIFORNIA 95052-8090
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(Address of Principal Executive Offices)
(408) 721-5000
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communication pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
NATIONAL SEMICONDUCTOR CORPORATION
Table of Contents
Page
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Section 8 - Other Events
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Item 8.01 Other Events 3
Section 9 - Financial Statements and Exhibits
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Item 9.01 Financial Statements and Exhibits 3
Signature 4
Exhibits:
99.1 News release dated July 13, 2005
NATIONAL SEMICONDUCTOR CORPORATION
Item 8.01 OTHER EVENTS
On July 13, 2005, National Semiconductor Corporation announced plans to
close its assembly and test plant in Toa Payoh, Singapore. A copy of the news
release is attached as Exhibit 99.1 and 99.2.
The information contained in Exhibit 99.1 shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor
shall it be deemed incorporated by reference in any filing under the Securities
Act of 1933, as amended.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(c ) Exhibits
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Exhibit No. Description of Exhibit
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99.1 News release dated July 13, 2005 issued by National
Semiconductor Corporation*
*This exhibit is intended to be furnished and shall not be deemed "filed" for
purposes of the Securities Exchange Act of 1934, as amended.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATIONAL SEMICONDUCTOR CORPORATION
Dated: July 14, 2005 //S// Jamie E. Samath
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Jamie E. Samath
Corporate Controller
Signing on behalf of the registrant and
as principal accounting officer
Media Contact: Financial:
Jeff Weir Long Ly
National Semiconductor National Semiconductor
(408) 721-5199 or (408) 242-4827 (408) 721-5007
jeff.weir@nsc.com invest.group@nsc.com
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National Semiconductor Will Close Assembly
and Test Plant in Singapore to Accelerate Cost Savings
SANTA CLARA, Calif. - July 13, 2005 - National Semiconductor Corporation
(NYSE:NSM) today announced plans to close its assembly and test plant in Toa
Payoh, Singapore. The closure is consistent with National's ongoing program to
maximize resources and support for the company's analog businesses.
Following National's March 10, 2005, announcement to seek a buyer for its
Singapore plant, the company has now decided to accelerate its cost savings by
closing the plant and consolidating its production volume into National's two
other assembly and test plants in Melaka, Malaysia, and Suzhou, China.
A majority of the equipment that is currently in Singapore will be transferred
to the other assembly and test plants and utilized to support ongoing products
and customers. However, the closure will impact approximately 950 employees,
including professional staff, technicians and operators. The management team in
Singapore will work with local government agencies and other employers on job
placement opportunities for affected employees.
In connection with the shutdown, the company currently estimates that it will
incur charges in the range of $27 million to $30 million during the first
quarter of fiscal 2006, primarily for severances. The majority of the activities
associated with the closure, including equipment transfers to other plants, are
expected to take place over nine to 12 months. The company expects to eventually
achieve quarterly cost savings of $4 million to $6 million from this action.
National's financial release and conference call for the first quarter of fiscal
2006, ending August 28, 2005, are scheduled for September 8, 2005. During the
conference call, the company will discuss financial results and forward outlook.
About National Semiconductor
National Semiconductor, the industry's premier analog company, creates
high-value analog devices and subsystems. National's leading-edge products
include power management circuits, display drivers, audio and operational
amplifiers, communication interface products and data conversion solutions.
National's key analog markets include wireless handsets, displays and a variety
of broad electronics markets, including medical, automotive, industrial, and
test and measurement applications. Headquartered in Santa Clara, California,
National reported sales of $1.91 billion for fiscal 2005, which ended May 29,
2005. Additional company and product information is available at
www.national.com.
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