Tuesday, October 21, 2003
Texas Instruments Inc. posted sales of $2.533 billion in the third quarter, up 8 percent sequentially and up 13 percent from the same period last year amid strong growth in semiconductor, the company reported.
Net income in the quarter was $447 million, or $0.25 per share. It posted a profit of $121 million, or $0.07 a sale, in the previous quarter, and a net of $188, or $0.11, a year ago.
"TI's revenue and profit margins continue to rebound," Thomas Engibous, TI chairman, president and CEO, said in a statement. "As the semiconductor market has rebuilt momentum, TI has grown faster as a result of the manufacturing technology and product R&D investments we maintained through the industry's downturn."
Semiconductor revenues hit $2.118 billion in the quarter, up 16 percent sequentially due to higher DSP shipments along with high-performance analog and digital light processing products.
TI expects fourth-quarter revenue to be in the $2.49 billion to $2.7 billion range. TI's semiconductor business is expected to be in the $2.185 billion to $2.365 billion range in the fourth quarter. It also expects earnings per share to be in the range of $0.14 to $0.19. Restructuring charges in the fourth quarter are expected to be about $15 million.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
