〔中央社〕全美次大晶片製造商德州儀器（Texas Instrument）縮減第1季財報預估區間，估計銷售與獲利將符合分析師預測目標。
總部位在達拉斯的德儀昨天發佈公告指出，第1季每股淨利將介在56至60美分，營收區間在33.4億至34.8億美元左右。彭博調查分析師估每股獲利為59美分，營收達34億美元。
德儀是類比晶片製造大廠，類比晶片應用範圍廣泛，從國防設備到洗衣機等不一而足，因此德儀的財報可推測電子產業展望。
德儀縮減財報預估區間後，電子盤後股價應聲挫跌0.7%。德儀稍早在美股正常時段收漲38美分或1.1%，報35.86美元。
舊金山Gleacher & Co.分析師傅利曼（DougFreedman）指出：「我依然認為本季結束時業績呈現向上趨勢。」他建議敲進德儀，但並未持有該股。
德儀今年1月表示，電腦與電視製造商需求趨緩，惟智慧型手機與網路設備零組件訂單節節攀升。
德儀曾是數位訊號處理器市場主導廠商，現階段則專注在類比晶片業務經營。德儀執行長譚普敦（RichTempleton）認為，類比晶片有望獲得大單，成長前景較佳。
美國晶片大廠中，德儀年營收僅次於英特爾（Intel）。
總部位在達拉斯的德儀昨天發佈公告指出，第1季每股淨利將介在56至60美分，營收區間在33.4億至34.8億美元左右。彭博調查分析師估每股獲利為59美分，營收達34億美元。
德儀是類比晶片製造大廠，類比晶片應用範圍廣泛，從國防設備到洗衣機等不一而足，因此德儀的財報可推測電子產業展望。
德儀縮減財報預估區間後，電子盤後股價應聲挫跌0.7%。德儀稍早在美股正常時段收漲38美分或1.1%，報35.86美元。
舊金山Gleacher & Co.分析師傅利曼（DougFreedman）指出：「我依然認為本季結束時業績呈現向上趨勢。」他建議敲進德儀，但並未持有該股。
德儀今年1月表示，電腦與電視製造商需求趨緩，惟智慧型手機與網路設備零組件訂單節節攀升。
德儀曾是數位訊號處理器市場主導廠商，現階段則專注在類比晶片業務經營。德儀執行長譚普敦（RichTempleton）認為，類比晶片有望獲得大單，成長前景較佳。
美國晶片大廠中，德儀年營收僅次於英特爾（Intel）。
TI updates first-quarter 2011 business outlook
Conference call on TI website at 4 p.m. Central time today
www.ti.com/ir
www.ti.com/ir
The company currently expects its financial results to be within the following ranges:
- Revenue: $3.34 — 3.48 billion, compared with the prior range of
$3.27 — 3.55 billion - EPS: $0.56 — 0.60, compared with the prior range of
$0.54 — 0.62
The company will hold a conference call at 4 p.m. Central time today to discuss this update. This conference call will be available live at www.ti.com/ir. TI's original first-quarter outlook was published in the company's fourth-quarter and year-end 2010 earnings release on January 24 , available at www.ti.com/ir. TI's first quarter ends on March 31 .
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as TI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe TI's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
We urge you to carefully consider the following important factors that could cause actual results to differ materially from the expectations of TI or its management:
- Market demand for semiconductors, particularly in key markets such as communications, computing, industrial and consumer electronics;
- TI's ability to maintain or improve profit margins, including its ability to utilize its manufacturing facilities at sufficient levels to cover its fixed operating costs, in an intensely competitive and cyclical industry;
- TI's ability to develop, manufacture and market innovative products in a rapidly changing technological environment;
- TI's ability to compete in products and prices in an intensely competitive industry;
- TI's ability to maintain and enforce a strong intellectual property portfolio and obtain needed licenses from third parties;
- Expiration of license agreements between TI and its patent licensees, and market conditions reducing royalty payments to TI;
- Economic, social and political conditions in the countries in which TI, its customers or its suppliers operate, including security risks, health conditions, possible disruptions in transportation networks and fluctuations in foreign currency exchange rates;
- Natural events such as severe weather and earthquakes in the locations in which TI, its customers or its suppliers operate;
- Availability and cost of raw materials, utilities, manufacturing equipment, third-party manufacturing services and manufacturing technology;
- Changes in the tax rate applicable to TI as the result of changes in tax law, the jurisdictions in which profits are determined to be earned and taxed, the outcome of tax audits and the ability to realize deferred tax assets;
- Changes in laws and regulations to which TI or its suppliers are or may become subject, such as those imposing fees or reporting or substitution costs relating to the discharge of emissions into the environment or the use of certain raw materials in our manufacturing processes;
- Losses or curtailments of purchases from key customers and the timing and amount of distributor and other customer inventory adjustments;
- Customer demand that differs from our forecasts;
- The financial impact of inadequate or excess TI inventory that results from demand that differs from projections;
- Impairments of our non-financial assets;
- Product liability or warranty claims, claims based on epidemic or delivery failure or recalls by TI customers for a product containing a TI part;
- TI's ability to recruit and retain skilled personnel; and
- Timely implementation of new manufacturing technologies, installation of manufacturing equipment and the ability to obtain needed third-party foundry and assembly/test subcontract services.
For a more detailed discussion of these factors, see the Risk Factors discussion in Item 1A of TI's most recent Form 10-K. The forward-looking statements included in this release are made only as of the date of this release, and TI undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances.
Annual Report
Notice of 2011 Annual Meeting & Proxy Statement
Notice of 2011 Annual Meeting & Proxy Statement
2010 was the year we began delivering on our potential – the potential for growth and market share gains, as well as the accompanying benefits to our shareholders that result from our strategy focused on Analog and Embedded Processing.
The numbers tell a clear story of transformation at TI, the result of targeted investments into high-opportunity businesses. This year saw incremental improvements become notable, credible gains. When we began this strategic journey in 2006, 52 percent of our revenue came from our core businesses of Analog, Embedded Processing and the part of Wireless focused on smartphones. By the end of 2010, that number had jumped to 67 percent, and it will continue to grow in the years ahead as almost all of our R&D dollars are funneled into these targeted areas.
What benefit have we gained from this focus? First and foremost is growth. TI revenue grew 34 percent during 2010, led by robust gains of more than 40 percent in each of our core businesses. Analog grew 42 percent; importantly, each of its key product lines – high-volume analog & logic, power management and high-performance analog – contributed to that growth. Embedded Processing grew 41 percent as our significant investments in microcontrollers over the past years are now paying off and combining with solid growth in digital signal processors. And in Wireless, our applications processors and connectivity products were up just over 40 percent as we focus our resources on differentiated products for the fast-growing smartphone market.
Each of these core businesses significantly outpaced their respective markets, which resulted in across-the-board share gains. We also gained share in each major region of the world. Notably, we again gained share in China – the world’s largest semiconductor market and one of the fastest growing.
Combined, these gains translated into solid financial performance, with TI delivering record operating profit of $4.5 billion, record operating margin of 32 percent and record return on invested capital of 31 percent.
The numbers tell a clear story of transformation at TI, the result of targeted investments into high-opportunity businesses. This year saw incremental improvements become notable, credible gains. When we began this strategic journey in 2006, 52 percent of our revenue came from our core businesses of Analog, Embedded Processing and the part of Wireless focused on smartphones. By the end of 2010, that number had jumped to 67 percent, and it will continue to grow in the years ahead as almost all of our R&D dollars are funneled into these targeted areas.
What benefit have we gained from this focus? First and foremost is growth. TI revenue grew 34 percent during 2010, led by robust gains of more than 40 percent in each of our core businesses. Analog grew 42 percent; importantly, each of its key product lines – high-volume analog & logic, power management and high-performance analog – contributed to that growth. Embedded Processing grew 41 percent as our significant investments in microcontrollers over the past years are now paying off and combining with solid growth in digital signal processors. And in Wireless, our applications processors and connectivity products were up just over 40 percent as we focus our resources on differentiated products for the fast-growing smartphone market.
Each of these core businesses significantly outpaced their respective markets, which resulted in across-the-board share gains. We also gained share in each major region of the world. Notably, we again gained share in China – the world’s largest semiconductor market and one of the fastest growing.
Combined, these gains translated into solid financial performance, with TI delivering record operating profit of $4.5 billion, record operating margin of 32 percent and record return on invested capital of 31 percent.
Our strong cash position enabled us to invest in TI’s and our customers’ futures by launching more than 900 new semiconductor products and acquiring new manufacturing capacity at low cost. While other companies were opting to shutter manufacturing plants in the uncertain economic climate of the past couple of years, we were able to buy new capacity at a fraction of its original cost. These investments will support more than $5 billion of additional annual revenue from customers around the world. For example, we equipped and began production in the world’s first 300-millimeter analog wafer fab in Texas; we opened our first wafer fab in China; and we added a new wafer fab in Japan. With this new capacity, we can give our customers what they need, when they need it.
As our business continues producing significant cash, after investing for growth we’re returning substantial amounts directly to our shareholders. In 2010, we repurchased $2.5 billion of TI stock and paid dividends of nearly $600 million. We also increased our quarterly dividend rate by 8 percent, the eighth increase in seven years.
Time has proven the strategic soundness of our focus on Analog and Embedded Processing. Both are large, fragmented markets in which TI enjoys strong positions yet has ample room to grow. Both use less capital-intensive manufacturing technologies, resulting in strong profits and cash generation. Both have diverse customers and applications, so we aren’t tethered to any single market. Both are pervasive technologies that underpin the electronics of today and, more importantly, are the enablers of the electronics of tomorrow.
Our future is full of promise. Our near-term challenge is to demonstrate that our 2010 performance was not an anomaly; rather, it was a new standard by which to measure ourselves moving forward. With our strategy, our people, our products, our capacity and our will to win, we’re committed to delivering on that promise again in 2011.
As our business continues producing significant cash, after investing for growth we’re returning substantial amounts directly to our shareholders. In 2010, we repurchased $2.5 billion of TI stock and paid dividends of nearly $600 million. We also increased our quarterly dividend rate by 8 percent, the eighth increase in seven years.
Time has proven the strategic soundness of our focus on Analog and Embedded Processing. Both are large, fragmented markets in which TI enjoys strong positions yet has ample room to grow. Both use less capital-intensive manufacturing technologies, resulting in strong profits and cash generation. Both have diverse customers and applications, so we aren’t tethered to any single market. Both are pervasive technologies that underpin the electronics of today and, more importantly, are the enablers of the electronics of tomorrow.
Our future is full of promise. Our near-term challenge is to demonstrate that our 2010 performance was not an anomaly; rather, it was a new standard by which to measure ourselves moving forward. With our strategy, our people, our products, our capacity and our will to win, we’re committed to delivering on that promise again in 2011.
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