National Semi’s profit drops 24%

National Semiconductor Corp., a maker of chips that manage power in electronic devices, said profit declined 24% on weaker demand from mobile-phone and computer companies.

Net income in its fiscal fourth quarter declined to $90.1 million, or 28 cents a share, from $118.8 million, or 34 cents, a year earlier, the Santa Clara, Calif.-based company said.

Sales fell 20% to $455.9 million. The results were released after the close of the stock market.

Shares of National Semi fell 52 cents to $25.79 in regular trading but were up more than 9% in after-hours trading.