Texas Instruments Issues Q2 Guidance; Q1 Profit Tops Estimates

(RTTNews) - Texas Instruments Inc. (TXN) announced, for its second-quarter, the company expects revenue in the range of $3.07 billion to $3.33 billion, and earnings per share between 67 and 77 cents. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.71 on revenue of $3.18 billion. Analysts' estimates typically exclude special items.

First-quarter Net income was $668 million compared to $656 million, prior year. Earnings per share rose to $0.65 from $0.61. On average, 29 analysts polled by Thomson Reuters expected the company to report profit per share of $0.62 for the quarter.

Revenue decreased to $3.01 billion from $3.15 billion, last year. Analysts expected revenue of $2.98 billion, for the quarter.

Rich Templeton, CEO, said: "Revenue for the quarter was in the upper half of our expected range. Compared with a year ago, notable market activity for our products included continuing strength in automotive, as well as improvement in industrial and communications equipment. Revenue was down 5 percent due to weakness within the personal electronics market, which declined as expected."