Texas Instruments turns in 60 percent profit

Chip major Texas Instruments showed a jump in profits in its third quarter of $859 million – a rise of 60 percent compared to the same period in last year, when it recorded a $538 million profit.

Revenues for the third quarter amounted to $3.74 billion, compared to $2.88 billion in the same quarter last year. Its gross margin for the period was 54.5 percent, compared to 51.4 percent in the previous year.

But CEO Rich Templeton said that it expects lower revenues in its fourth financial quarter – a combination of seasonal patterns, soft demand, and generally slowing growth in the industry.

He said that TI’s sales were strong in all of its segments, particularly so from its industrial customers.

TI will start shipping product from its 300 millimetre RFAB, which will churn out analogue semiconductors.