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

To: pat mudge who wrote (3171)	3/5/1998 10:01:00 AM
From: jad	Read Replies (1) \| Respond to of 6180

Texas Instruments Continues to Strengthen DSPS Leadership; Discusses 'The New TI' at Annual Analyst/Media Conference DALLAS, March 5 /PRNewswire/ -- Texas Instruments (NYSE: TXN - news) today discussed its year of strategic change to strengthen leadership in digital signal processing solutions (DSPS). The remarks were made to a record audience of more than 150 analysts and journalists at the company's annual analyst/media conference held in Dallas, Texas. ''As a result of intensive work, the new TI has emerged,'' said Thomas J. Engibous, president and CEO. ''We've focused our energies and resources where we have leading industry positions that we can maintain and widen.'' Digital signal processing solutions represent two of the fastest growing segments of the world semiconductor market -- digital signal processors (DSPs) and mixed-signal devices. Programmable DSPs are increasingly becoming the engines of choice for fast-growing electronic end-equipment markets, such as wireless communications, mass storage and networking. In 1998, the DSP market is expected to grow in excess of 30 percent. TI continues as the world leader in this strategic market. The company saw its revenues in analog/mixed-signal products grow more than twice those of the market in 1997, making TI the world's largest analog producer as well. TI continues to see strength in the DSPS market, particularly in wireless communications, where the digital cellular phone market is expected to grow by 45 percent to 125 million units in 1998. ''This puts TI in a unique position to provide total solutions. While there is no shortage of competitors in this market, it is clear that no one except TI has the depth of technology, products and support tools that our customers need,'' Engibous said. ''It's the difference between making the spark plug or building the engine.'' TI has good balance between its product emphasis and the focus on selected end-equipment areas. Since 1995, TI's semiconductor revenues to wireless, mass storage and networking customers have more than doubled to $2.5 billion, yet no one customer represents more than 4 percent of semiconductor revenues. Nine out of ten high-density hard disk drives, one of every two digital cellular phones and one of three modems produced today utilize TI digital signal processing technology. TI is also putting emphasis on mass and emerging markets for additional growth in the future. As previously stated, TI believes the 1998 worldwide semiconductor market will grow at about 10 percent, up from 4 percent in 1997. Although the company continues to see some customer caution in the near-term related to the slowing in Asian economies, electronic end equipment demand appears to be on track for another year of solid growth, particularly in wireless communications and networking, as well as PC unit growth. In view of the near-term caution, TI is maintaining cost controls and holding R&D and capital expenditures at $1.3 billion and $1.4 billion, respectively, as previously reported. ''We have positioned ourselves like no other company in the industry,'' Engibous stated. ''With the diversity of applications and wide range of end- equipment, TI is poised for a strong future of providing value, growth and financial stability for all our stakeholders.''