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Texas Instruments reported a net income of $628m on revenue of $3.23bn in its 2Q 2005 earnings, announced yesterday. The revenue is almost exactly the same as a year ago, but an improvement on the previous quarter.

Revenue from analog chips grew 13pc, and revenue from DSPs, the cornerstone of the company's revival over the past decade, grew by 8pc from Q1. The company pointed to the Slingbox PC TV adaptor and a major win from Samsung for HD-TVs.

The company rewarded shareholders with a $2bn share buyback and increased the dividend, which will be due in October, by 20 per cent. TI ended the quarter with a cash pile including short term investments of $4.47bn before the buybacks and dividends begin.

TI issued guidance of $3.29bn to $3.56bn for Q3. ®

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