Texas Instruments Narrows 1st-Quarter Outlook

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    NEWSLETTERS

    TK
    AP
    (AP Photo/L.M. Otero)

    As analysts had expected, chipmaker Texas Instruments Inc. narrowed its outlook for first-quarter earnings and revenue on Monday.

    The company now expects to break even on a per-share basis or post a loss of up to 8 cents per share. That includes restructuring charges of about 4 cents per share, a penny higher than TI's earlier estimate.

    Previously, Texas Instruments' first-quarter forecast ranged from a loss of 11 cents per share to a profit of 3 cents per share.

    The company also said it now expects sales between $1.79 billion and $2.05 billion, compared with a prior range of $1.62 billion to $2.12 billion.

    Analysts, on average, have predicted a quarterly loss of 2 cents per share on sales of $1.86 billion, according to a poll by Thomson Reuters. The estimates generally exclude one-time items.

    Shares of the Dallas-based company climbed 16 cents to $14.85 in after-hours trading. The stock had closed the regular session down 2 cents at $14.69.