Texas Instruments reported Q3 2009 revenue of$2.88 billion, net income of $538 million and earnings per share (EPS) of $0.42.
TI’s revenue declined 15 percent compared with the third quarter of 2008 and increased 17 percent compared with the second quarter of 2009. The decline from a year ago was the result of declines across all segments, particularly the Wireless segment. The increase from the prior quarter was due to growth in all segments, particularly the Analog segment.
Despite revenue that was $507 million lower compared with the year-ago quarter, TI’s operating profit grew $17 million primarily due to lower operating expenses, as well as lower manufacturing costs.
“Our performance in the quarter exceeded our expectations and was led by a second consecutive quarter of 20-percent growth in Analog,” said Rich Templeton, TI chairman, president and CEO. “We are encouraged with the strong sequential increase in demand for our products over the past two quarters as our customers are winding down their inventory corrections and have begun to increase production levels in their factories. http://ww.ti.com
