Silke
22.01.2001, 22:48
Texas Instruments Profit Misses Forecast
DALLAS (Reuters) - Texas Instruments Inc. (NYSE:TXN - news), the world's No. 1 maker of computer chips for mobile phones, said on Monday its fourth-quarter net income rose 22 percent, missing Wall Street forecasts, and said revenue would decline in the first quarter.
The Dallas-based manufacturer of the chips used in about two-thirds of the world's digital cellular phones said that on a pro forma basis, net income was $549 million, or 31 cents a share, compared with $448 million, or 25 cents, in the year-earlier quarter. The consensus analyst forecast was 33 cents per share, according to First Call/Thomson Financial.
Texas Instruments shares closed before the earnings news at $48-9/16, down $1-3/4, or 3.5 percent.
The stock has gained about 5 percent since the start of the year but lost about 12 percent from a year earlier. By comparison, the Philadelphia Semiconductor Index is up 24 percent since the start of this year but off the highs of early last year.
Texas Instruments, which last October warned fourth-quarter sales were slowing from the previous quarter due to weaker world demand for wireless phones, said pro forma revenues were $3.03 billion, up 15 percent from $2.64 billion a year earlier. Pro forma numbers are adjusted to reflect the acquisition last year of Burr-Brown Corp.
DALLAS (Reuters) - Texas Instruments Inc. (NYSE:TXN - news), the world's No. 1 maker of computer chips for mobile phones, said on Monday its fourth-quarter net income rose 22 percent, missing Wall Street forecasts, and said revenue would decline in the first quarter.
The Dallas-based manufacturer of the chips used in about two-thirds of the world's digital cellular phones said that on a pro forma basis, net income was $549 million, or 31 cents a share, compared with $448 million, or 25 cents, in the year-earlier quarter. The consensus analyst forecast was 33 cents per share, according to First Call/Thomson Financial.
Texas Instruments shares closed before the earnings news at $48-9/16, down $1-3/4, or 3.5 percent.
The stock has gained about 5 percent since the start of the year but lost about 12 percent from a year earlier. By comparison, the Philadelphia Semiconductor Index is up 24 percent since the start of this year but off the highs of early last year.
Texas Instruments, which last October warned fourth-quarter sales were slowing from the previous quarter due to weaker world demand for wireless phones, said pro forma revenues were $3.03 billion, up 15 percent from $2.64 billion a year earlier. Pro forma numbers are adjusted to reflect the acquisition last year of Burr-Brown Corp.