View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 23, 2012

Texas Instruments’ revenue in 3Q12 slips on low chip demand

Firm is also planning on cutting down production at its facilities

By CBR Staff Writer

Texas Instruments has reported 2% decline in its revenue during the third quarter of 2012 (3Q12) to $3.39bn, due to falling chip demand, when compared to $3.46bn registered during the corresponding period in 2011.

The firm’s operating profit and net income increased 3% and 30% to $840m and $784m respectively during the quarter, as against $814m and $601m reported during 3Q11.

TI chairman, president and CEO Rich Templeton said TI revenue grew sequentially and operations were well executed even though the economy and semiconductor market remained weak and likely will get weaker in the fourth quarter.

"Our core businesses of Analog and Embedded Processing each grew revenue by 2 percent," Templeton said.

"Our operations were disciplined, with expenses and inventory levels both down, and our core businesses grew profit faster than revenue," added Templeton.

The firm has also reported a decline in orders for automotive clients in China and Europe and weak showing of the computer industry including peripheral products comprising printers, in addition to reduced wireless network equipment demand.

"In the third quarter, our free cash flow exceeded $1 billion, and we returned more than 75 percent of it through dividends and share repurchases," Templeton said.

Content from our partners
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business
When it comes to AI, remember not every problem is a nail

The firm is also planning to cut down its production at its facilities, and in the next quarter, it is expected to be below the current quarter.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU