TI wishes the second quarter sales grow

Published:2012/4/24 2:49:00 Author:Ecco From:SeekIC

According to the first quarter sales of Texas Instruments Inc. (April 23), its first quarter sales of $3.12 billion reduced 9 percent from the previous quarter and dropped 8 percent compared to the first quarter of 2011. The company reported a net income for the quarter of $265 million which was lessened 11 percent from the previous quarter and reduced 60 percent from the first quarter of 2011. However, the sales beat analysts’ expectations as the company’s top executive said TI expects 2012 to be "a good year for growth."

TI reported that its earnings per share for the first quarter included 10 cents per share for charges associated with the company’s acquisition of National Semiconductor Corp. and restructuring. Total acquisition-related charges associated with the acquisition were $174 million in the first quarter, including $21 million in cost of revenue associated with the contract termination of a distributor. Moreover, TI’s orders of $3.24 billion in the first quarter increased 13 percent from the previous quarter.

For the second quarter, TI expects sales to grow to between $3.22 billion and $3.48 billion, a sequential increase of 3 to 12 percent. TI’s second quarter’s results will be negatively affected by about $100 million in charges related to the National Semiconductor and about $10 million of restructuring charges.

According to Templeton’s analysis, TI would continue to develop the former National Semiconductor which is now known as the TI’s Silicon Valley Analog division. TI would expect to spend about $2 billion on R&D and about $700 million in capital expenditures in 2012.

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