Texas Instruments 4Q Net Income Falls 11 Percent

Texas Instruments Inc. says its net income fell 11 percent in the fourth quarter while revenue fell even more.

Both results were slightly better than expectations.

The Dallas-based chipmaker said Tuesday that net income in the three months to Dec. 31 fell to $264 million, or 23 cents per share, from $298 million, or 25 cents per share, a year ago.

Revenue fell 13 percent to $2.98 billion, slightly ahead of the $2.95 billion expected by analysts.

CEO Rich Templeton says TI continues to operate in a weak demand environment but that many customers had lean inventories, meaning an uptick in demand could create better results quickly.

For the full year, Texas Instruments earned $1.76 billion, or $1.51 per share, on revenue of $12.83 billion.

Copyright AP - Associated Press
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