Mar 9, 2009
DALLAS (March 9, 2009) – In a scheduled update to its business outlook for the first quarter of 2009, Texas Instruments Incorporated (TI) (NYSE: TXN) today adjusted and narrowed its expected ranges for revenue and earnings per share (EPS).
The company currently expects its financial results to fall within the following ranges:
The EPS estimate includes $0.04 per share impact resulting from about $80 million of estimated restructuring charges. Previously, the company had estimated restructuring charges of about $50 million in the quarter, or $0.03 per share.
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 2008 earnings release on January 26, available at www.ti.com/ir. TI’s first quarter ends on March 31.
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“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 the Company'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:
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.