TI reported third quarter
sales of $3.39 billion, up 2 percent from the previous quarter and down 2
percent from the third quarter of 2011. The company reported a net
income of $784 million, or 67 cents per share, up 76 percent from the
previous quarter and up 30 percent from the year-ago quarter.
the fourth quarter, TI projected that sales would slip to between $2.83
billion and $3.07 billion, which would represent a 13 percent decline
at the midpoint. TI's fourth quarter sales target was well below
consensus analysts' expectations of more than $3.2 billion.
which still makes calculators, said its calculator revenue is expected
to decline about $100 million in the fourth quarter. The company said it
received about $60 million in insurance payments in the third quarter
for business lost following last year's earthquake in Japan, which will
not carry over into the fourth quarter.
TI executive declined to
discuss plans for the company's OMAP applications processor, which the
company has said will be re-targeted toward embedded applications,
rather than smartphones and tablets. Subsequent reports have indicated
that the company is in discussions to sell part or all of OMAP to
"We realize there are questions regarding our plans for
OMAP and connectivity products sold into the smartphone and tablets
spaces," Marche said. "I can tell you, we are actively working on these
plans, but at this point in time, we don't have anything new to share
TI said its revenue from analog products—which
represented 70 percent of its sales for the quarter—totaled $1.84
billion, up 2 percent from the previous quarter and up 18 percent from
the third quarter of 2011.