Manhasset, N.Y. " Texas Instruments Inc. reported second quarter net income of $441 million on sales of $3.2 billion, up from $367 million on sales of $2.9 billion the previous quarter and $121 million on sales of $2.3 billion in the year-ago second quarter.
Second-quarter 2004 results included $4 million in restructuring charges for consolidating manufacturing operations in Texas Instruments' Semiconductor business and for moving several production lines in the company's Sensors and Controls business to other sites.
The Dallas semiconductor supplier reported strong demand for digital signal processors, wireless parts, high-performance analog parts, and Digital Light Processing parts, which are used in display applications.
"In particular, this was an important quarter for our wireless operations, with growth across a broad base of customers and a broad mix of our products," said Rich Templeton, TI's president and chief executive, in a statement. "Digital baseband modems for W-CDMA 3G cell phones have emerged as a significant growth contributor, accounting for one-fourth of sequential wireless revenue growth in the second quarter."
For the third quarter, Texas Instruments projects revenue to top out at $3.2 to $3.4 billion, most of it coming from the Semiconductors business which is expected to account for $2.78 to $2.98 billion.