Texas Instruments lowers 4Q outlook

Dec 09, 2011

(AP) -- Semiconductor maker Texas Instruments Inc. lowered its outlook for its fourth-quarter revenue and profit on Thursday, saying demand had weakened for a variety of products that use its chips.

Its shares were down more than 6 percent in extended trading.

The weak economy in the United States and elsewhere has hurt demand for that use TI's semiconductors. Dallas-based TI said it saw "broadly lower demand across a wide range of markets, customers and products" except for wireless-applications processors, which are used in smartphones and tablets.

The company said that it expects to earn between 21 and 25 cents per share in the , down from an earlier forecast of 28 to 36 cents per share.

It forecast revenue of $3.19 billion to $3.33 billion, down from a previous range of $3.26 billion to $3.54 billion.

Analysts were expecting the company to earn 35 cents per share on revenue of $3.41 billion, according to a survey by FactSet.

In October, the company reported that third-quarter net income fell 30 percent from the same period last year, as demand for chips weakened and revenue fell in all four of the company's segments.

TI shares fell 75 cents, or 2.5 percent, to end regular trading at $29.92 before the update. In extended trading, the shares fell $1.91, or 6.4 percent, to $28.01. They had lost 8 percent this year, through Thursday's closing bell.

Explore further: New iPhones deliver big profits for Apple (Update)

not rated yet
add to favorites email to friend print save as pdf

Related Stories

TI 2Q revenue rises 42 pct as demand roars back

Jul 19, 2010

(AP) -- Texas Instruments Inc.' second-quarter income and revenue jumped as demand continued to recover after the recession. The company predicted even better results in the new quarter.

Texas Instruments says past 'shallow downturn'

Jan 24, 2011

(AP) -- Texas Instruments Inc. on Monday posted fourth-quarter results that narrowly topped forecasts, and the chipmaker said it is now past a "short and shallow downturn" that hit in the second half of last ...

TI 3Q earnings up 60 pct, sees slowdown in 4Q

Oct 25, 2010

(AP) -- Chip-maker Texas Instruments Inc. said Monday that third-quarter income soared 60 percent as it continued to satisfy pent-up demand after the recession, but the company expects things to cool down ...

Texas Instruments 2Q profit falls 56 percent

Jul 20, 2009

(AP) -- Chip maker Texas Instruments says its second-quarter earnings fell 56 percent from a year ago, clipped by a weak economy that the company expects will "take some time" to strengthen.

TI 4Q profit, revenue soar on broad chip demand

Jan 25, 2010

(AP) -- Texas Instruments Inc. said Monday its fourth-quarter profit soared as factories that use its chips for a wide range of consumer gadgets and industrial products hummed straight through the typically ...

Recommended for you

Facebook sues law firms, claims fraud

5 hours ago

Facebook is suing several law firms that represented a man who claimed he owned half of the social network and was entitled to billions of dollars from the company and its CEO Mark Zuckerberg.

IBM 3Q disappoints as it sheds 'empty calories'

5 hours ago

IBM disappointed investors Monday, reporting weak revenue growth again and a big charge to shed its costly chipmaking division as the tech giant tries to steer its business toward cloud computing and social-mobile ...

MasterCard, Zwipe announce fingerprint-sensor card

Oct 18, 2014

On Friday, MasterCard and Oslo, Norway-based Zwipe announced the launch of a contactless payment card featuring an integrated fingerprint sensor. Say goodbye to PINs. This card, they said, is the world's ...

User comments : 0