Texas Instruments 1Q profit climbs

[notiCIas]

Texas Instruments 1Q profit climbs

Profits increased 3 cents per share, lifted by manufacturing and operating expenses.

April 18, 2005: 4:57 PM EDT


LOS ANGELES (Reuters) - Texas Instruments Inc., the world's largest maker of chips for cell phones, Monday reported a slightly larger profit for its fiscal first quarter, as lower manufacturing and operating expenses offset a sequential decline in revenue.

Dallas-based TI reported a net profit of $411 million, or 24 cents per share, compared with a year-earlier profit of $367 million, or 21 cents per share. Revenue rose to $2.97 billion from $2.94 billion a year earlier.

Analysts surveyed by Reuters Estimates had expected earnings per share of 23 cents on revenue of $2.99 billion in the quarter.

For the current quarter, TI forecast earnings per share of 25 cents to 29 cents on revenue of $3 billion to $3.24 billion. Analysts had expected earnings per share of 26 cents on revenue of $3.18 billion.

Shares in Texas Instrument (Research) rose more than 5 percent in after-hours trading on Inet from a $22.92 New York Stock Exchange close. The stock is down about 7 percent for the year to date, compared to a decline of about 11 percent for the Philadelphia Semiconductor Index , of which it is a component.