9/11/2003 - In a scheduled update to its business outlook for the third quarter of 2003, Texas Instruments Incorporated (NYSE:TXN) narrowed its expected revenue range to the upper half of the company's prior outlook. TI's updated estimate reflects strengthening demand across a broad range of its Semiconductor products.
The company's expectations for revenue are:
TI expects earnings per share (EPS) between $0.20 and $0.22, including a $0.13 per share contribution from the company's previously announced sale of 24.7 million shares of Micron Technology, Inc. common stock, compared with the previous range of $0.19 to $0.23. The current EPS estimate also includes a non-tax-deductible in-process research and development (R&D) charge of about $23 million related to the company's acquisition of Radia Communications, Inc., which was completed on July 30. The in-process R&D charge was not included in the company's previous EPS estimate.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as TI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe the company's outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
We urge you to carefully consider the following important factors that could cause actual results to differ materially from the expectations of the company or its management:
For a more detailed discussion of these factors, see the text under the heading "Cautionary Statements Regarding Future Results of Operations" in Item 1 of the company's most recent Form 10-K. The forward-looking statements included in this release are made only as of the date of publication, and the company undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances.
Texas Instruments Incorporated provides innovative DSP and Analog technologies to meet our customers' real world signal processing requirements. In addition to Semiconductor, the company's businesses include Sensors & Controls and Educational & Productivity Solutions. TI is headquartered in Dallas, Texas, and has manufacturing, design or sales operations in more than 25 countries.
Texas Instruments is traded on the New York Stock Exchange under the symbol TXN. More information is located on the World Wide Web at www.ti.com.
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