Texas Instruments Back in Black During Quarter

Texas Instruments, a major electronics and computer chip concern, reported a third-quarter profit of $14 million, compared to an $83-million loss last year.

The company said its sales increased to $1.25 billion from $1.19 billion last year.

But the company added that to further reduce costs, it would cut 1,000 workers from its payroll in the fourth quarter.

It also said that after showing strength earlier in the year, the semiconductor, or computer chip, industry weakened in the third quarter. Despite the downturn, the company said it reduced costs and operated slightly below a break-even level in its semiconductor business during the third quarter.

The company also said the semiconductor business improved substantially from year-earlier levels. It said a loss in its geophysical services was offset by greater strength in its data systems business.