Mar 11, 2013
Texas Instruments (TXN), the world’s leading analog chipmaker and third largest semiconductor manufacturer, reported an 11% drop in quarterly income to $264 million as revenues dropped by 13% to $2.98 billion, just managing to beat the revenue estimates by around $30 million. Operating profits have dropped by 62% from $365 million in Q4-2011 to $139 million in Q4 2012. Excluding a tax benefit of $0.15 per share, the earnings per share was $0.08, 1 cent more than analysts’ estimate. The long-term story for TI has been its unwillingness to commit to the future in mobile computing which ultimately pushed its OMAP SoC to the fringes of the ARM (ARMH) revolution in smartphones.
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