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8-K - 1Q10 MID-QUARTER UPDATE - TEXAS INSTRUMENTS INC | d8k1q10mqu.htm |
Exhibit
99
TI
updates first-quarter 2010 business outlook
Conference
call on TI web site at 4 p.m. Central time today
www.ti.com/ir
DALLAS
(March 8, 2010) – In a scheduled update to its business outlook for the first
quarter of 2010, Texas Instruments Incorporated (TI) (NYSE: TXN) today revised
its expected ranges for revenue and earnings per share (EPS).
The
company currently expects its financial results to fall within the following
ranges:
·
|
Revenue: $3.07
– $3.19 billion, compared with the prior range of $2.95 – $3.19
billion
|
·
|
EPS: $0.48
– $0.52, compared with the prior range of $0.44 –
$0.52.
|
The
company will hold a conference call at 4 p.m. Central time today to discuss this
update. This conference call will be available live at
www.ti.com/ir. TI’s original first-quarter outlook was published in
the company’s fourth-quarter and year-end 2009 earnings release on January 25,
available at www.ti.com/ir. TI’s first quarter ends on March
31.
# # #
“Safe
Harbor” Statement under the Private Securities Litigation Reform Act of
1995:
This
release includes forward-looking statements intended to qualify for the safe
harbor from liability established by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements generally can be
identified by phrases such as TI or its management “believes,” “expects,”
“anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of
similar import. Similarly, statements herein that describe TI’s
business strategy, outlook, objectives, plans, intentions or goals also are
forward-looking statements. All such forward-looking statements are
subject to certain risks and uncertainties that could cause actual results to
differ materially from those in forward-looking statements.
We urge
you to carefully consider the following important factors that could cause
actual results to differ materially from the expectations of TI or its
management:
·
|
Market
demand for semiconductors, particularly in key markets such as
communications, entertainment electronics and
computing;
|
·
|
TI’s
ability to maintain or improve profit margins, including its ability to
utilize its manufacturing facilities at sufficient levels to cover its
fixed operating costs, in an intensely competitive and cyclical
industry;
|
·
|
TI’s
ability to develop, manufacture and market innovative products in a
rapidly changing technological
environment;
|
·
|
TI’s
ability to compete in products and prices in an intensely competitive
industry;
|
·
|
TI’s
ability to maintain and enforce a strong intellectual property portfolio
and obtain needed licenses from third
parties;
|
·
|
Expiration
of license agreements between TI and its patent licensees, and market
conditions reducing royalty payments to
TI;
|
·
|
Economic,
social and political conditions in the countries in which TI, its
customers or its suppliers operate, including security risks, health
conditions, possible disruptions in transportation networks and
fluctuations in foreign currency exchange
rates;
|
·
|
Natural
events such as severe weather and earthquakes in the locations in which
TI, its customers or its suppliers
operate;
|
·
|
Availability
and cost of raw materials, utilities, manufacturing equipment, third-party
manufacturing services and manufacturing
technology;
|
·
|
Changes
in the tax rate applicable to TI as the result of changes in tax law, the
jurisdictions in which profits are determined to be earned and taxed, the
outcome of tax audits and the ability to realize deferred tax
assets;
|
·
|
Changes
in laws and regulations to which TI or its suppliers are or may become
subject, such as those imposing fees or reporting or substitution costs
relating to the discharge of emissions into the environment or the use of
certain raw materials in our manufacturing
processes;
|
·
|
Losses
or curtailments of purchases from key customers and the timing and amount
of distributor and other customer inventory
adjustments;
|
·
|
Customer
demand that differs from our
forecasts;
|
·
|
The
financial impact of inadequate or excess TI inventory that results from
demand that differs from
projections;
|
·
|
The
ability of TI and its customers and suppliers to access their bank
accounts and lines of credit or otherwise access the capital
markets;
|
·
|
Impairments
of our non-financial assets;
|
·
|
Product
liability or warranty claims, claims based on epidemic or delivery failure
or recalls by TI customers for a product containing a TI
part;
|
·
|
TI’s
ability to recruit and retain skilled personnel;
and
|
·
|
Timely
implementation of new manufacturing technologies, installation of
manufacturing equipment and the ability to obtain needed third-party
foundry and assembly/test subcontract
services.
|
For a
more detailed discussion of these factors, see the Risk Factors discussion in
Item 1A of the Company's most recent Form 10-K. The forward-looking
statements included in this release are made only as of the date of this
release, and the Company undertakes no obligation to update the forward-looking
statements to reflect subsequent events or circumstances.
About
Texas Instruments
Texas
Instruments (NYSE: TXN) helps customers solve problems and develop new
electronics that make the world smarter, healthier, safer, greener and more
fun. A global semiconductor company, TI innovates through design,
sales and manufacturing operations in more than 30 countries. For more
information, go to www.ti.com.