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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (43690)	3/9/2009 4:59:55 PM
From: Donald Wennerstrom	1 Recommendation Respond to of 95450

Texas Instruments Narrows 1Q Forecast, Raises Rev View 4:49 PM ET 3/9/09 DOW JONES NEWSWIRES Texas Instruments Inc. (TXN) narrowed the range of its first-quarter forecast, with the midpoint of its revenue guidance rising 2.7%. Shares of TI were halted after they ended the regular session down 0.1% at $14.69. The stock price has fallen 56% in the past nine months. In its regular midquarter update, the semiconductor maker said it now expects its bottom line to range from break-even to a loss of 8 cents a share on revenue of $1.79 billion to $2.05 billion. If it fails to reach break-even, TI would record its first quarterly loss in six years. The earnings estimate includes $80 million, or 4 cents a share, of restructuring charges. Previously, the company estimated restructuring charges of about $50 million, or 3 cents a share. In November, TI said it saw the bottom line ranging from earnings of 3 cents a share to a loss of 11 cents a share on revenue of $1.62 billion to $2.12 billion. At that time, Wall Street's expectations were for the high end of that forecast. Analysts now expect a loss of 2 cents a share, excluding items, on revenue of $1.86 billion, according to a poll by Thomson Reuters. In the prior-year quarter, the top maker of microprocessors used in wireless phones earned 49 cents a share on revenue of $3.27 billion. Earlier Monday, Credit Suisse predicted TI would narrow its guidance closer to the midpoint of $1.9 billion, citing utilization rates for TI's chip factories, gross margin and inventories near bottoms. But the firm pointed to long-term problems in TI's wireless segment and with analog-chip profitability. In January, TI said it would cut its work force by 12% as economic conditions worsened, and it posted an 86% drop in fourth-quarter net income on revenue that fell 30%. At the time, Chief Financial Officer Kevin March said the company didn't see any recovery in the global economy or the market for semiconductors anytime soon. TI makes chips used in telecommunications equipment, conference-room projectors and high-definition televisions. The company has said it plans to focus investments in analog products, embedded processing, and customer sales and support operations.