DALLAS, March 8, 2011 /PRNewswire/ -- In a scheduled
update to its business outlook for the first quarter of 2011, Texas
Instruments Incorporated (TI) (NYSE: TXN) today narrowed its
expected ranges for revenue and earnings per share (EPS).
The company currently expects its financial results to be within
the following ranges:
- Revenue: $3.34 – 3.48 billion, compared with the prior
range of $3.27 – 3.55 billion
- EPS: $0.56 – 0.60, compared with the prior range of
$0.54 – 0.62
The company will hold a conference call at 4 p.m. Central time today to discuss this update.
This conference call will be available live at www.ti.com/ir.
TI's original first-quarter outlook was published in the
company's fourth-quarter and year-end 2010 earnings release on
January 24, available at
www.ti.com/ir. TI's first quarter ends on March 31.
"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 herein that describe
TI's business strategy, 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 TI or its management:
- Market demand for semiconductors, particularly in key markets
such as communications, computing, industrial and consumer
electronics;
- TI's ability to maintain or improve profit margins, including
its ability to utilize its manufacturing facilities at sufficient
levels to cover its fixed operating costs, in an intensely
competitive and cyclical industry;
- TI's ability to develop, manufacture and market innovative
products in a rapidly changing technological environment;
- TI's ability to compete in products and prices in an intensely
competitive industry;
- TI's ability to maintain and enforce a strong intellectual
property portfolio and obtain needed licenses from third
parties;
- Expiration of license agreements between TI and its patent
licensees, and market conditions reducing royalty payments to
TI;
- Economic, social and political conditions in the countries in
which TI, its customers or its suppliers operate, including
security risks, health conditions, possible disruptions in
transportation networks and fluctuations in foreign currency
exchange rates;
- Natural events such as severe weather and earthquakes in the
locations in which TI, its customers or its suppliers operate;
- Availability and cost of raw materials, utilities,
manufacturing equipment, third-party manufacturing services and
manufacturing technology;
- Changes in the tax rate applicable to TI as the result of
changes in tax law, the jurisdictions in which profits are
determined to be earned and taxed, the outcome of tax audits and
the ability to realize deferred tax assets;
- Changes in laws and regulations to which TI or its suppliers
are or may become subject, such as those imposing fees or reporting
or substitution costs relating to the discharge of emissions into
the environment or the use of certain raw materials in our
manufacturing processes;
- Losses or curtailments of purchases from key customers and the
timing and amount of distributor and other customer inventory
adjustments;
- Customer demand that differs from our forecasts;
- The financial impact of inadequate or excess TI inventory that
results from demand that differs from projections;
- Impairments of our non-financial assets;
- Product liability or warranty claims, claims based on epidemic
or delivery failure or recalls by TI customers for a product
containing a TI part;
- TI's ability to recruit and retain skilled personnel; and
- Timely implementation of new manufacturing technologies,
installation of manufacturing equipment and the ability to obtain
needed third-party foundry and assembly/test subcontract
services.
For a more detailed discussion of these factors, see the Risk
Factors discussion in Item 1A of TI's most recent Form 10-K.
The forward-looking statements included in this release are
made only as of the date of this release, and TI undertakes no
obligation to update the forward-looking statements to reflect
subsequent events or circumstances.
About Texas Instruments
Texas Instruments semiconductor innovations help 80,000
customers unlock the possibilities of the world as it could be –
smarter, safer, greener, healthier and more fun. Our
commitment to building a better future is ingrained in everything
we do – from the responsible manufacturing of our semiconductors,
to caring for our employees, to giving back inside our
communities. This is just the beginning of our story.
Learn more at www.ti.com.
TXN-F
SOURCE Texas Instruments Incorporated