Feeds

TI meets lowered Q1 forecast

DLP and wireless chip sales decline

  • alert
  • submit to reddit

Intelligent flash storage arrays

Texas Instruments yesterday posted Q1 FY2005 results in line with the revised forecast it issued last month.

For the three months to 31 March 2005, the company reported revenues of $2.97bn, down 5.7 per cent on the previous quarter's $3.15bn but up fractionally on the year-ago quarter's $2.94bn.

Net income for the period totalled $411m (24 cents a share), a drop of 16 per cent on Q4 FY2004's income, $490m (28 cents a share), but up 12 per cent on the $367m (21 cents a share) posted this time last year.

Previously pegged at $2.90-3.14bn, TI revised Q1's expected revenue downward to $2.91-3.03bn in March. It said earnings would range from 22 to 24 cents a share, down from its earlier forecast of 22-26 cents a share.

Then, the company blamed the need to revise the forecasts on declining sales of its DLP (Digital Light Processing) products. It also said yesterday sales of wireless chip products had fallen too. However, TI noted that demand for its "standard" semiconductor products was growing, a sign that the industry-wide inventory correction of H2 2004 was now over.

"The market environment is improving," said Rich Templeton, TI's president and chief executive, in a statement.

The chip maker's gross margins were up 2.6 percentage points to 44.9 per cent, it said, while operating margin increased 1.3 percentage points to 16.7 per cent. Inventory levels were down. ®

Related stories

TI cuts Q1 sales forecast
TI licences PowerVR phone graphics core
TI delivers on single-chip promise
TI Q4 earnings slide as sales fall
TI narrows Q4 forecasts

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.