Texas Instruments Lowers 4Q Outlook
Dec. 11, 2006
DALLAS (AP) _ Texas Instruments Inc. cut its profit and revenue forecast for the fourth quarter on Monday due to slower sales of semiconductors.
TI expects earnings from continuing operations of 37 to 40 cents per share, down from its prior forecast of 40 to 46 cents per share.
The company said revenue would be $3.35 billion to $3.50 billion, down from the previous forecast of $3.46 billion to $3.75 billion.
Virtually the entire shortfall occurred in semiconductor revenue, which TI now expects to range between $3.28 billion and $3.42 billion, compared to an earlier forecast of $3.39 billion to $3.66 billion.
Educational and other products, including calculators, are expected to produce sales of $70 million to $80 million, instead of the prior forecast of $70 million to $90 million.