Friday, June 9, 2006
Citing a payment for settling patent litigation and a tax benefit, Texas Instruments Inc. Thursday (June 8) increased its second quarter revenue and earnings estimates, saying the company now expects to post revenue of $3.63 billion to $3.78 billion and earnings per share of 46 to 48 cents.
TI (Dallas) had previously said it expected to report revenue in the range of $3.46 billion to $3.75 billion and earnings per share of 38 to 43 cents.
TI expects to post semiconductor revenue of between $3.45 billion and $3.59 billion, up from the prior range of $3.29 billion to $3.56 billion.
Earnings per share from continuing operations are projected to be 46 to 48 cents, TI said, up from the previous range of 38 to 43 cents. Both the current and previous ranges for EPS include about 4 cents per share for stock-based compensation expense, the company said.
The second quarter revenue estimate includes a $70 million cash payment from Conexant Systems Inc. for a previously announced settlement of DSL patent-related litigation, TI said. The company said it also received an unspecified sales tax benefit in the quarter. The combination of these two items is expected to boost earnings by 5 to 6 cents per share, TI said.
By: DocMemory
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