Feeds

TI meets lowered Q1 forecast

DLP and wireless chip sales decline

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

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

Secure remote control for conventional and virtual desktops

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Lawyers mobilise angry mob against Apple over alleged 2011 Macbook Pro crapness
We suffered 'random bouts of graphical distortion' - fanbois
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.