Business Services Industry
Texas Instruments Earnings Rise, but More Job Cuts Planned.
Knight Ridder/Tribune Business News, April, 2003
By Crayton Harrison, The Dallas Morning News Knight Ridder/Tribune Business News
Apr. 16--Texas Instruments Inc. indicated Tuesday that it's well into a recovery, but the Dallas-based chipmaker is still cutting jobs.
TI rode strong sales of its chips for advanced wireless phones to beat Wall Street's consensus for first-quarter earnings expectations by a penny.
In the quarter, the company earned $117 million, or 7 cents per share, up from a loss of $38 million, or 2 cents, a year ago. Revenue rose to $2.2 billion from $1.8 billion.
TI shares jumped as much as 6 percent in after-hours trading after the results were announced. Earlier, shares rose 28 cents to $17.22 in regular trading.
Part of the higher-than-expected...
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