DALLAS (dpa-AFX) - Texas Instruments Inc. (TXN) reported that its second-quarter net income decreased to $446 million or $0.38 per share, from $672 million or $0.56 per share in the same quarter last year. The latest quarter earnings per share included 6 cents of charges associated with the company's September 2011 acquisition of National Semiconductor and restructuring. Analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter declined to $3.335 billion from $3.458 billion in the prior year quarter. Thirty eight analysts had consensus revenue estimate of $3.35 billion for the quarter.
The company said it currently estimate that its revenue in the third quarter will be about even with last quarter and below its seasonal average growth rate.
For the third quarter of 2012, the company expects earnings per share to be in the range of $0.34 - $0.42, and revenue of $3.21 billion - $3.47 billion. The third quarter's earnings per share will be negatively affected by about 7 cents from acquisition and restructuring charges. Analysts expect the company to report earnings of $0.50 per share on revenues of $3.54 billion for the third-quarter.
For the full year of 2012, the company now expects approximately R&D expense of $1.9 billion, down from the prior expectation of $2.0 billion.
Copyright RTT News/dpa-AFX
© 2012 AFX News
