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To: Johnny Canuck who wrote (42570)	7/26/2005 1:02:05 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70079

Texas Instruments sees profit leap By Reuters news.com.com Story last modified Mon Jul 25 17:38:00 PDT 2005 Texas Instruments, the world's biggest maker of mobile phone chips, said Monday that profits jumped amid strong demand for its chips for high-end phones, pushing shares up nearly 5 percent. Net income in the company's second quarter grew to $628 million, or 38 cents per diluted share, compared with the year-earlier quarter's profit of $441 million, or 25 cents. The latest quarter's results included 6 cents per share in tax-related gains. The results reflected strong business for cell phone chips and benefited from a pickup in demand for calculators ahead of the back-to-school selling season and a recovery in TI's television components business. "Our confidence level is probably higher than it has been for quite a long time," Chief Financial Officer Kevin March told Reuters in an interview following the report. The company's ratio of orders to bookings had turned positive for the first time since the first quarter of 2004. "That gives us confidence that we should be able to deliver another strong quarter in Q3 (third quarter)," March said. Wall Street analysts were looking for quarterly earnings, on average, of 29 cents per share, according to Reuters Estimates. Forecasts ranged between 25 cents and 30 cents. Revenue was flat compared with a year ago at $3.24 billion, but it was up 9 percent compared with the first quarter. In early June, Dallas-based TI forecast revenue of between $3.12 billion and $3.24 billion. It had also forecast earnings per share of between 27 cents and 30 cents. Previous Next Analysts had forecast revenue of about $3.19 billion. Forecasts were in a range of $3.15 billion and $3.27 billion. The company said it planned to increase its annual dividend to 12 cents per share from 10 cents per share previously. In addition, TI said its board of directors had authorized the buyback of an additional $2 billion of common stock, the third largest repurchase program in the past 10 months. Buybacks help reduce shares outstanding and thus boost reported earnings per share. Shares rose 4.8 percent to $32.08 in after-hours trade on Inet.