Texas Instruments says it will slow its production this year to reduce inventories that have built up as a result of slowing sales.
In its quarterly earnings report issued April 21, the company said it benefited from strong sales of high-performance analog semiconductors, which make up about 40 percent of revenue. The semiconducters are used in digital cameras and music players. But it said chips for high-end mobile phones were down.
|
|
Texas Instruments reported $662 million net earnings for the quarter compared with $516 million for the same quarter a year ago. Revenue was up 3 percent to $3.27 billion.
The company is in the process of closing its Tucson production facilities and shifting the work to Texas. In the meantime, it says it will move its 300 Tucson development engineers from the company’s current location near Tucson International Airport into former AOL offices in Williams Centre, near East Broadway and Craycroft Road.
Comments