DALLAS-An upswing in the wireless semiconductor sector has helped Texas Instruments beat expectations in its second-quarter results with earnings of $121 million, or 7 cents per share.
The earnings amount to an increase from $95 million, or 5 cents a share, a year earlier.
“We did a little better than what we expected,” said Ron Slaymaker, director of investor relations at TI.
The company had a revenue of $2.34 billion, a 7-percent jump from the first quarter and 8 percent over a year ago when it recorded $2.16 billion.
TI took charges of $49 million in restructuring related to job cuts and $100 million forecast by the end of 2004. But the restructuring may save the company about $105 million a year.
Another chip company, ARM Ltd., released its own results, which were not as rosy. The chip designer posted a 60-percent loss with a pre-tax profit of $10.5 million on revenues of $50.2 million.
