Texas Instruments Lifts Q3 Outlook

Elena
12 Sep, 2007
New York City

The company said after the closing bell Tuesday that earnings would be in the range of 49 cents to 53 cents per share on revenue between $3.56 billion and $3.72 billion. The upward revision of the forecast included a gain of 2 cents per share from the July sale of a semiconductor product line associated with DSL equipment. The stock fell 0.7% in pre-market trading.

[R]8:00AM Texas Instruments lifted its Q3 earnings forecast.[/R]

Texas Instruments Inc. ((TXN)), the world''s biggest producer of chips for cellular phones, lifted its Q3 earnings forecast to the higher end of a range it had previously projected. The company said after the closing bell Tuesday that earnings would be in the range of 49 cents to 53 cents per share on revenue between $3.56 billion and $3.72 billion.

The upward revision of the forecast included a gain of 2 cents per share from the July sale of a semiconductor product line associated with DSL equipment. When Texas Instruments reported its Q2 earnings in July, it predicted earnings range of 46 cents to 52 cents per share on revenue between $3.49 billion and $3.79 billion. Analysts expected earnings of 49 cents per share on revenue of $3.66 billion for the quarter ending Sept. 30.

The company said that the biggest growth area for the quarter has been in high performance analog chips used in cell phones and various other electronic devices. The revenue of the company's semiconductor business is expected to be between $3.36 billion and $3.50 billion, compared with the previous range of $3.29 billion to $3.57 billion. The stock fell 0.7% in pre-market trading.