TI (TXN) Beats by a Penny (or Meets EPS Consensus?)
First glance looks good margin wise but revenue slightly below consensus and guidance will be key, but it doesn't look too hot according to the PR release. CC in 30 minutes will tell the story.
Down 3% AH at the moment.
>> Texas Instruments Q3 Profit Rises - Quick Facts 1
RTTNews
Monday, October 23, 2006; Posted: 04:35 PM
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Texas Instruments Inc. (TXN ) reported third-quarter 2006 revenue of $3.76 billion, up from $3.33 billion in the third quarter of last year. Thirty-Four Wall Street analysts' consensus revenue estimate came in at $3.80 billion.
The company reported third quarter net income of $702 million or $0.46 per share, compared to $631 million or $0.38 per share in the same quarter last year. On average, 37 analysts polled by First Call/Thomson Financial expected earnings of $0.45 per share. <<
TI Press Release here ...
biz.yahoo.com
* TI Revenue Grows to $3.76 Billion
* $0.45 EPS from Continuing Operations
* High-Performance Analog Revenue Up 37% from a Year Ago
* Strong Profitability at 51.4% Gross Margin, 24.7% Operating Margin
* Revenue grew 2 percent compared with the second quarter, which included a $70 million royalty settlement, and increased 13 percent from the same quarter a year ago.
"The third quarter was one of the best in TI's history. Our revenue once again set an all-time record as our share continued to climb in our core markets. Our strong gross and operating margins reflected the value of our product portfolio, rich in analog and DSP products.At the same time, orders declined, leading us to expect that fourth- quarter Semiconductor growth will be below the seasonal average. A couple of factors are influencing this. First, we believe customers have broadly replenished their own inventory and are confident in operating with lower backlog now that chip supply has improved. The second factor is wireless, where we expect that unit mix will be more weighted toward low-priced cell phones and inventory correction will continue in Japan. Even with a less- than-seasonal fourth quarter, we expect the growth rate of our Semiconductor business to be in the upper teens for the year." - Rich Templeton, TI President and CEO.
>> Texas Instruments Revenues Disappoint, Shares Fall
Reuters (New York)
October 23, 2006 4:51pm
tinyurl.com
Texas Instruments Inc (TXN.N), the world's biggest maker of cell phone chips, on Monday posted a higher third-quarter profit but its shares fell as its revenue missed Wall Street estimates.
It also gave a fourth-quarter revenue forecast below average analyst estimates, according to Reuters Estimates.
TI, which makes everything from calculators to chips for the latest flat screen televisions, said its profit from continuing operations was 45 cents a share, up from 36 cents a share in the year-earlier quarter.
Revenue rose to $3.76 billion from $3.59 billion.
On average, analysts expected earnings of 45 cents a share on revenue of $3.796 billion, according to Reuters Estimates.
The company said it expects earnings per share from continuing operations of 40 cents to 46 cents for the fourth quarter on revenue of $3.46 billion to $3.75 billion.
On average, analysts were expecting fourth-quarter earnings of 45 cents a share on revenue of $3.8 billion, according to Reuters Estimates.
TI's shares fell nearly 3 percent to $30.94 in aftermarket trade after closing at $31.88, up 1.6 percent for Monday's session on the New York Stock Exchange.
TI said its gross profit margin for the quarter was 51.4 percent. It had reported a 51.6 percent gross margin for the second quarter and 49.3 percent in the year-ago quarter.
Dallas, Texas-based TI's shares have risen more than 17 percent in the last three months compared with a 16 percent increase for the Philadelphia Stock Exchange's index of semiconductor companies <.SOXX> in the same period. <<
- Eric - |
