Texas Instruments Inc. (TXN) Hit By a Weak Quarter
Texas Instruments Inc. on Monday said its second-quarter profit was down from a year ago, hurt by weak demand across a broad range of products.
The Dallas-based maker of chips used in cellphones, calculators and other electronics, reported net income of $610 million, or 42 cents a share, compared with net income of $2.39 billion, or $1.50 a share, in second-quarter 2006. Last year's results included a $1.65 billion gain from discontinued operations related to the sale of a sensors business.
Revenue dropped 7 percent to $3.42 billion from $3.7 billion in the year-ago period, because of weaker demand for a broad range of products.
Analysts surveyed by Thomson Financial expected earnings of 42 cents a share on revenue of $3.45 billion.
TI (NYSE: TXN - News) said its orders declined by $455 million from a year ago because of lower demand for semiconductor products, which offset a $50 million increase in demand for calculators.
Published July 23, 2007 by the Dallas Business Journal
The Dallas-based maker of chips used in cellphones, calculators and other electronics, reported net income of $610 million, or 42 cents a share, compared with net income of $2.39 billion, or $1.50 a share, in second-quarter 2006. Last year's results included a $1.65 billion gain from discontinued operations related to the sale of a sensors business.
Revenue dropped 7 percent to $3.42 billion from $3.7 billion in the year-ago period, because of weaker demand for a broad range of products.
Analysts surveyed by Thomson Financial expected earnings of 42 cents a share on revenue of $3.45 billion.
TI (NYSE: TXN - News) said its orders declined by $455 million from a year ago because of lower demand for semiconductor products, which offset a $50 million increase in demand for calculators.
Published July 23, 2007 by the Dallas Business Journal
Labels: Texas Instruments Inc., TXN
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