Texas Instruments profit rises 13%
From Times Wire Services
Texas Instruments Inc., the largest maker of chips for mobile phones, said its fourth-quarter profit rose 13% and sales reversed a yearlong decline.
The company posted net income of $756 million, or 54 cents a share, compared with $668 million, or 45 cents a share, a year earlier. Analysts were expecting 52 cents. Revenue was $3.56 billion, up 3% from the same quarter in 2006.
The firm said sales growth was strongest in its key markets of digital signal processors and analog chips used in a variety of electronic gadgets.
Dallas-based Texas Instruments forecast first-quarter earnings of 43 to 49 cents a share on revenue of $3.27 billion to $3.55 billion. Analysts were projecting profit of 45 cents a share on sales of $3.41 billion.
