TI narrows Q4 forecasts

Inventory correction

By Tony Smith, 9th December 2004

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Texas Instruments this week narrowed its Q4 revenue forecast as the world's semiconductor buyers continue to use up inventory rather than take product rolling off chip makers' production lines.

TI previously said the three months to 31 December - the company's fourth fiscal quarter - would yield group revenues in the range $2.96-3.20bn. This week it said it now anticipated the final figure would fall between $3.02bn and $3.14bn. Group earnings will range from 25 to 27 cents a share, compared to 24-28 cents a share from the last guidance note.

TI's chip business is now expected to contribute $2.68-2.78bn out of that total, from the $2.63-2.83bn previously forecast.

The company said the revised forecast was made the better to take into account the "ongoing inventory adjustments, especially in standard products sold through distribution channels". ®

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