8-KOther Events

TEXAS INSTRUMENTS INC 8-K Report (Dec 3, 2002)

Filed December 3, 2002For Securities:TXN

Summary

Texas Instruments Incorporated (TXN) filed an 8-K on December 3, 2002, to disclose an upward revision to its fourth-quarter 2002 revenue and earnings expectations. The company now anticipates a smaller sequential decline in semiconductor revenue, projecting a 2% decrease instead of the previously expected 5%. Similarly, total revenue is now expected to be down approximately 7% sequentially, an improvement from the prior forecast of a 10% decline, largely due to seasonal factors impacting calculator shipments. This positive revision is attributed to stronger demand for TI's wireless and high-performance analog products. The company's CFO, Bill Aylesworth, is scheduled to discuss these outlook improvements and business strategies at the Credit Suisse First Boston Annual Technology Conference. Investors should note that these statements are forward-looking and subject to risks and uncertainties, as detailed in the filing.

Key Highlights

  • 1Texas Instruments (TXN) revised its Q4 2002 revenue expectations upward.
  • 2Semiconductor revenue is now expected to decline ~2% sequentially, an improvement from the previously guided ~5% decline.
  • 3Total revenue is now projected to decline ~7% sequentially, better than the earlier forecast of ~10%.
  • 4The improved outlook is primarily driven by stronger demand for wireless and high-performance analog products.
  • 5Earnings per share are also expected to be better than previously anticipated.
  • 6The company's CFO will present updated outlook and strategies at the Credit Suisse First Boston Annual Technology Conference.
  • 7The filing includes a 'Safe Harbor' statement outlining various risks and uncertainties that could impact actual results.

Frequently Asked Questions

Texas Instruments is revising its fourth-quarter 2002 expectations upwards due to stronger than previously anticipated demand for its wireless and high-performance analog products.

The company now expects semiconductor revenue to decline by approximately 2% sequentially, an improvement from the earlier forecast of a 5% decline. Total revenue is now projected to be down about 7% sequentially, an improvement from the previously guided 10% decrease, partly due to seasonal impacts on calculator shipments.

Investors can find a more detailed discussion of the risks and uncertainties that could cause actual results to differ materially from the company's expectations in the 'Cautionary Statements Regarding Future Results of Operations' section within TI's most recent Form 10-K filing.

The Regulation FD disclosure indicates that the information provided in the news release is being furnished to ensure broad public dissemination, in compliance with Regulation Fair Disclosure, and is not an assessment of materiality or an indication that the information is otherwise unavailable.