TXN: Texas Instruments Updates Outlook
Texas Instruments (TXN - Annual Report) updated their outlook for the first quarter, and it looks like things will be about as they expected six weeks ago, only more so.
In a scheduled update to its business outlook for the first quarter of 2007, Texas Instruments Incorporated today narrowed its expected ranges for revenue and earnings per share (EPS).The company’s expectations for revenue are:
* Total revenue between $3.07 billion and $3.22 billion, compared with
the prior range of $3.01 billion to $3.28 billion;
* Semiconductor revenue between $3.01 billion and $3.14 billion,
compared with the prior range of $2.95 billion to $3.20 billion; and
* Education Technology revenue between $60 million and $80 million,
unchanged from the prior range.TI expects EPS from continuing operations between $0.29 and $0.33, compared with the previous range of $0.28 to $0.34.
The in-line was actually a bit better than we were expecting, but clearly worse than the market hoped. Shares were down 2.5% after the update.
Like this article? Why not try out:
