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Politics : Formerly About Applied Materials
AMAT 320.75+0.9%12:49 PM EST
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To: Tony Viola who wrote (29626)4/20/1999 11:37:00 AM
From: Proud_Infidel  Read Replies (2) of 70976
 
TI hikes capital spending plans as chip orders grow
A service of Semiconductor Business News, CMP Media Inc.
Story posted 10 a.m. EST/7 a.m., PST, 4/20/99

DALLAS -- Texas Instruments Inc. here today reported revenues increased 2.3% in the first quarter to $2.039 billion from $1.993 billion in the final three months of 1998. TI's revenues were down 4.3% from $2.187 billion in the first quarter last year, when the company was still participating in the DRAM business.

However, TI's net income jumped to $233 million in the 1999 first quarter, ended March 31, compared to only $11 million in the same period last year and $189 million in the fourth quarter 1998.

The Dallas chip maker reported that its semiconductor orders grew 13% sequentially in the first quarter from the final three months of last year. TI said it expects chip sales to continue to grow in the second quarter with momentum building throughout the rest of the year as the industry continues its recovery from last year's recession. Consequently, the company now plans to increase its R&D spending to $1.2 billion from $1.1 billion planned at the start of 1999. TI said it plans to increase capital spending to $1.3 billion from an original target of $1.0 billion.

First-quarter orders reached $2.230 billion, up 4% from the same quarter last year, according to TI. Revenues for TI digital signal processors (DSPs) increased 16% from the first quarter 1998. Demand for DSP chips in wireless communications drove the revenue increase. TI also said DSP sales in modems declined in the three-month period compared to last year.

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