Sunday, July 19, 2009

TI Reports Q2 Revenue of $2.46 Billion, Better Trends

Texas Instruments (TI) announced second-quarter revenue of $2.46 billion, net income of $260 million and earnings per share (EPS) of $0.20. TI's revenue declined 27 percent compared with the second quarter of 2008 and increased 18 percent compared with the first quarter of 2009. The decline from a year ago was the result of broad-based declines across all segments. The increase from the prior quarter was primarily due to strength in TI's Analog segment as well as a seasonal increase in calculators. Revenue was up sequentially in all segments.

"After sharp inventory corrections in our markets during the prior two quarters, our revenue levels are beginning to more closely reflect end demand," said TI Chairman, President and CEO Rich Templeton. "As it will likely take some time before the economy strengthens, we have aligned our operations and expenses to be consistent with the weak environment. As a result, we are seeing healthy trends in our profitability.

"Analog was the biggest driver of sequential growth this quarter with all three major businesses contributing. Of particular note, our High-Volume Analog & Logic business is now showing early signs of progress from our efforts over the past couple of years to reinvigorate growth."