© The Financial Times Ltd 2014 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
July 26, 2011 3:53 am
Texas Instruments sounded a warning for the holiday season as it reported lacklustre activity from manufacturers in computing and consumer electronics, including TVs and gaming machines.
The Dallas-based chipmaker issued third-quarter forecasts of $3.55bn in revenues and earnings per share of 60 cents – below Wall Street analysts’ expectations of $3.64bn and 66 cents respectively.
“We note that production at some computing and consumer manufacturers appears lukewarm even though we’re heading into the back-to-school and holiday seasons,” said Rich Templeton, TI chief executive.
The Japan earthquake damaged its factories, but the company said it had resumed production ahead of schedule.
TI delivered slightly better than expected second-quarter numbers of $3.46bn in revenues and 56 cents a share in profits, compared with analysts’ forecasts of $3.44bn and 54 cents.
Copyright The Financial Times Limited 2014. You may share using our article tools.
Please don't cut articles from FT.com and redistribute by email or post to the web.
Sign up for email briefings to stay up to date on topics you are interested in