Texas Instruments to offer mid-quarter update

AP News
Posted: Dec 07, 2009 5:50 PM

Texas Instruments Inc. plans to reveal its mid-quarter update Tuesday, as the company rides what it has described as improving conditions in the market for chips for cell phones and other electronics.

The company in October offered a fourth-quarter forecast that was ahead of Wall Street's estimates.

TI said then it expects earnings of 42 cents and 50 cents per share and sales of $2.78 billion to $3.02 billion.

The company, based in Dallas, said it is seeing better demand for chips for hard disk drives, cell phones and consumer products like video game consoles.

Analysts are expecting TI to earn 47 cents per share on revenue of $2.9 billion in the fourth quarter.