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Texas Instruments reports USD264m profit in Q4  Join our daily free Newsletter

MENAFN - 23/01/2013

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(MENAFN) Chipmaker Texas Instruments Inc. reported an 11 percent decline in quarterly profit, on weaker demand, AP reported.

The company said it made USD264 million net profit during the fourth quarter ended in December, down from USD298 million a year earlier. Revenue fell 13 percent to USD2.98 billion.

The company said it expects first-quarter revenue between USD2.69 billion and USD2.91 billion.

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

For the full year, Texas Instruments made USD1.76 billion profit on the back of USD12.83 billion revenue.

 






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