Texas Instruments (TXN) Reports Strong Q4 Sales; Closing Hiji, Houston Plants

January 23, 2012 4:32 PM
Texas Instruments (NASDAQ: TXN) reported Q4 GAAP EPS of $0.25, which does not compare to the analyst estimate of $0.39. The result included a 16 cent per share charge related to the company's purchase of National Semi and a 7 cent per share charge related to the closure of two older facilities.

Revenue for the quarter came in at $3.42 billion versus the consensus estimate of $3.25 billion.

Texas Instruments sees Q1 2012 EPS of $0.16-$0.24, versus the consensus of $0.31. This figure includes 10 cents per share in charges. Sees Q1 2012 revenue of $3.02-$3.28 billion, versus the consensus of $3.22 billion.

TI said the closing of its Hiji, Japan and Houston, Texas plants will reduce employment by about 1,000, or 3%. Total restructuring charges for these activities are estimated to be about $215 million. These estimated charges include about $135 million associated with severance and related benefits, about $30 million for accelerated depreciation of plant assets and about $50 million for other costs to exit contracts or dispose of assets.

For earnings history and earnings-related data on Texas Instruments (TXN) click here.

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