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Technology Stocks : Axcelis Technologies, Inc. (ACLS)
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To: HiSpeed who started this subject7/28/2000 10:50:22 PM
From: Big Dog  Read Replies (1) of 195
 
Here's another story about ACLS's large client Texas Instruments:

TI to spend $300 million more for capital expansion this year

Business is looking so good for Texas Instruments that the Dallas chip maker is kicking up its capital spending plans by another 12% this year. The additional $300 million will go for increasing analog IC production.

TI expects its revenue growth to accelerate in the third quarter ending Sept. 30 as demand for analog and digital signal processing products increase in a range of communications applications.

Its second-quarter chip revenues grew 22% to $2.4 billion over the $2 billion in the same quarter last year, which included a $85 million catch-up royalty payment from Hyundai Electronics Industries. Excluding the royalty payment, chip revenues were up 28% over last year and up 6% sequentially from the first quarter of this year.

On a pro forma basis--excluding the extraordinary gains and charges in the period--TI's second-quarter net income jumped 35% from $384 million in the second quarter last year to $525 million. Total net income amounted to $1.28 billion for the second quarter, which included gains of $1.21 billion from the sale of 20 million shares of Micron Technology stock, which TI received when it sold its memory business to the DRAM maker in 1988.

(See July 24 story.)
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