The digital signal processor and analog IC manufacturer said its net income in the three months ended September 30 grew to 4776 million, or 54 cents per share, up from $702 million, or 46 cents per share, in the third quarter of 2006.

The company said earnings per share were lifted by gains from the sale of its semiconductor product line for broadband DSL to Infineon Technology. Analysts were expecting TI to report on the average 50 cents per share in net income.

Revenue slipped in line with expectation to $3.66 billion, down from $3.76 billion in the year-ago quarter.

TI said analog sales increased strongly during the just ended quarter and manufacturing process improvements helped to lift gross profit margin to 54.2 percent compared with 51.4 percent in the 2006 third quarter and 52.1 percent in the June 2007 quarter.

"Strong growth in analog was at the core of our performance in the third quarter. Our investments in analog technology have led to broader and deeper engagements with customers," said Rich Templeton, TI's president and CEO in a statement. "As a result, this part of our business, which delivers about 40 percent of our revenue, grew 10 percent sequentially,"

The Dallas-based company expects revenue in the fourth quarter would be between $3.4 billion and $3.68 billion with semiconductor sales in the range of $3.33 billion to $3.59 billion. It forecasts earnings per share would be approximately 48 cents to 54 cents.

By: DocMemory
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