Texas Instruments’ Quarterly Profit Soars

From Reuters

Texas Instruments Inc. said Friday that its third-quarter earnings more than quadrupled to $69.1 million on strong pickups in its semiconductor and defense electronics businesses. A year ago, profit totaled $14 million.

Revenue rose to $1.42 billion in the quarter from $1.25 billion in 1986.

The company said its profits were also helped by $20 million in royalty income paid by several Japanese and South Korean chip makers as part of their settlement of patent infringement lawsuits.