Texas Instruments sees weaker chip market in Q4

Texas Instruments reported third-quarter profits higher than expected, thanks to benefits from taxes and a Japanese pension program. Net profit rose 30 percent to USD 784 million or USD 0.61 per share, versus an earlier outlook from the company of USD 0.38-0.42 per share. The one-time gains not included in the outlook were worth 22 cents a share. Revenues were down 2 percent from a year earlier and up 2 percent from Q2 to USD 3.390 billion, in line with the chipmaker's guidance.?

However, TI said the semiconductor market remains weak and "likely will get weaker in the fourth quarter". The weakness in TI's business came in the Wireless segment, where it reported an operating loss of USD 52 million on sales down 44 percent from a year ago to USD 325 million. The other segments Embedded Processing and Analog now make up 70 percent of revenues, and each grew sales 2 percent sequentially in the quarter.?

Total orders at the company reached USD 3.24 billion, up 6 percent from the year-ago quarter and down 5 percent from the prior quarter. TI forecast fourth-quarter revenues down versus Q3 at USD 2.83-3.07 billion, while EPS is estimated at USD 0.23-0.61, including 6 cents in acquisition and restructuring charges.?

Source: http://feedproxy.google.com/~r/TelecompaperGeneral/~3/xMDBQ8bh6Sg/texas-instruments-sees-weaker-chip-market-in-q4

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