Tuesday, March 8, 2005
TI cut its quarterly profit forecast amid a slowing down in sales of its emerging big-screen television chip.
TI said television and projector makers ordered too many of its Digital Light Projection chips at the end of last year, and have since cut back orders after weaker end-of-year consumer demand. All of TI's other businesses remain generally in line with earlier expectations, the company said.
As a result of the DLP weakness, TI's quarterly profit is now expected in a range of 22 cents to 24 cents a share, down from a previous target of 22 cents to 26 cents a share, the company said.
In the scheduled update, the world's largest maker of chips for cellular phones also trimmed about $100 million from the high end of its forecasted range for revenue. The company now expects revenue in the range of $2.91 billion to $3.03 billion.
More broadly, sales of the company's portfolio of semiconductor products continued to be hurt by excess inventories of chips held by distributors, TI said.
By: DocMemory
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