Citing lower-than-expected demand for DLP products used in televisions and projectors, Texas Instruments narrowed its 2005 expected ranges for revenue and earnings per share (EPS).
The company’s new expectations for revenue are:
- Total revenue between $2910 million and $3030 million, compared with the prior range of $2900 million to $3140 million;
- Semiconductor revenue between $2550 million and $2650 million, compared with the prior range of $2550 million to $2750 million;
- Sensors & Controls revenue between $285 million and $295 million, compared with the prior range of $280 million to $300 million;
- Educational & Productivity Solutions revenue between $75 million and $85 million, compared with the prior range of $70 million to $90 million.
- TI expects EPS between $0.22 and $0.24, compared with the previous range of $0.22 to $0.26.
The company said that even though it believes DLP-based televisions and projectors gained share in 2004, customers had built for more robust end-of-year sales. Customers are taking aggressive actions to reduce these inventories as quickly as possible.
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