TI reduced its overall revenue forecast to $3.1-to-$3.240 billion for the third quarter of 2004, compared with the prior range of $3.2-to-$3.44 billion in its previous prediction.

In total, the company expects semiconductor revenue to be between $2.665-to-$2.785 billion, compared with the prior range of $2.78-to-$2.980 billion.

Sensors and controls revenue is expected to between $260-to-$270 million, compared with the prior range of $255-to-$275 million. And educational and productivity solutions revenue is expected to between $175-to-$185 million, compared with the prior range of $170-to-$190 million.

TI expects earnings per share (EPS) between $0.27-to-$0.29, compared with the previous range of $0.26-to-$0.29.

"This update reflects what TI believes are adjustments by customers as they move quickly to reduce inventory levels to more closely match their own end- equipment growth rates," according to the Dallas-based chip maker.

The announcement was somewhat expected. The lull in the semiconductor sector prompted research firms on Tuesday (Sept. 7) to lower their forecasts for TI, Linear Technology Inc. and Integrated Silicon Solution Inc. (ISSI).

Freescale Semiconductor Inc., the chip spin-off of Motorola Inc., on Tuesday also said it would have lackluster results in its mid-quarter update. TriQuint Semiconductor made a similar announcement. And last week, Altera, Cypress, Intel, IDT and other chip makers lowered their forecasts amid a slight slowdown in ICs,

By: DocMemory
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