Texas Instruments (TXN)

Texas Instruments reported a third-quarter profit of $538 million, or 42 cents a share, compared with a profit of $563 million or 43 cents a share in the year-earlier period. Revenue fell to $2.9 billion from $3.4 billion. In the current quarter, TI said it expects revenue in the range of $2.78 billion to $3.02 billion, and earnings per share in the range of 42 cents to 50 cents.
In a statement, Chief Executive Rich Templeton said: "We are encouraged with the strong sequential increase in demand for our products over the past two quarters, as our customers are winding down their inventory corrections and have begun to increase production levels in their factories."

Oct 20 · 9:49:00 AM · Source: Market Watch
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by Rich Pike