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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 178.29

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Dec 12 9:30 AM EST

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From: mindykoeppel	1/27/2009 8:00:49 AM
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TXN Outlook Nothing Short of Ugly By Bob Faulkner secure2.thestreet.com About this article: For Faulkner's preview heading into the Texas Instruments conference call, please click here. Texas Instruments reported its fourth-quarter results Monday that were mixed at best. However, the outlook for the March quarter is nothing short of ugly. Revenue in the quarter was $2.49 billion, down 30% from a year earlier, with earnings at 8 cents a share, including restructuring charges of 13 cents a share and a tax benefit of 5 cents. Gross margin was 44%, down more than 1000 bps from last year and 450 basis points from the prior quarter because of reduction in factory utilization to about 48% from about 68% in the prior quarter. Operating margin on a generally accepted accounting principles basis was 2%, also down substantially on both metrics due to the lower gross margin level as well as $254 million in restructuring charges. On a pro forma basis, operating margin was...

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