Texas Instruments Inc. (TXN) Raises Guidance
Texas Instruments Inc., which makes the chips used in about half the world's cell phones, narrowed its fourth-quarter outlook Monday, saying it expects sales and profits toward the higher end of its previously announced range of expectations.
Ron Slaymaker, the company's vice president of investor relations, said sales of chips for cell phones and other wireless devices remained below usual seasonal trends.
Texas Instruments' biggest customer, Nokia Corp., and LM Ericsson AB have recently moved to buy chips from other suppliers.
But Slaymaker said the outlook for wireless had improved since October, and that overall inventories of semiconductors were lean, a good sign for chip makers.
The company said it expects to earn 50 to 54 cents per share from continuing operations in the fourth quarter, compared with the previous range of 48 to 54 cents per share.
Analysts were expecting 51 cents per share, according to a survey by Thomson Financial.
Ron Slaymaker, the company's vice president of investor relations, said sales of chips for cell phones and other wireless devices remained below usual seasonal trends.
Texas Instruments' biggest customer, Nokia Corp., and LM Ericsson AB have recently moved to buy chips from other suppliers.
But Slaymaker said the outlook for wireless had improved since October, and that overall inventories of semiconductors were lean, a good sign for chip makers.
The company said it expects to earn 50 to 54 cents per share from continuing operations in the fourth quarter, compared with the previous range of 48 to 54 cents per share.
Analysts were expecting 51 cents per share, according to a survey by Thomson Financial.
Labels: Texas Instruments Inc., TXN
posted by Stock Administrator @ 9:17 PM
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