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Technology Stocks : Texas Instruments - Good buy now or should we wait? -- Ignore unavailable to you. Want to Upgrade?

To: Patriarch who wrote (4591)	8/6/1999 5:53:00 PM
From: Patriarch	Read Replies (3) \| Respond to of 6180

Texas Instruments to revise 1998 & Q1 99 results August 6, 1999 04:54 PM DALLAS, Aug 6 (Reuters) - Semiconductor maker Texas Instruments Inc. TXN on Friday said it would revise its 1998 and first-quarter 1999 financial statements, but the changes would have no effect on second-quarter 1999 results already reported. The company said it would shift a $14 million special charge from the second quarter to third quarter of 1998, and reverse a $17 million special charge in the first quarter of 1999 and depreciate that amount through the end of 2000. The revised 1998 results reflect a shift of a pretax manufacturing special charge relating to the winding down of production at a manufacturing facility in Singapore. The revision has no impact on the company's revenues or earnings for the full year. Texas Instruments also said it would revise results of operations for the first quarter of 1999 to reduce cost of revenues by $16 million, reflecting the reversal of a $17 million asset write-down special charge for its manufacturing facility in Hatogaya, Japan. As a result, $1 million of additional depreciation has been recorded in the first quarter. The $16 million balance will be depreciated across subsequent quarters beginning with the second quarter of 1999 and extending through 2000. As a result, earnings per share for the first quarter of 1999 increase from $0.58 to $0.60 including special charges, and are unchanged excluding charges. Second-quarter 1999 earnings per share are unchanged including charges, and excluding special charges are $0.91 instead of $0.92 as previously reported, primarily due to rounding. The company said it decided to make the revisions after discussion with the Securities and Exchange Commission. ((Ilaina Jonas, New York Newsdesk, 212-859-1676)) REUTERS