Texas Instruments has reported a revenue of $2.89 billion, net income of $362 million and earnings per share of 32 cents in its first-quarter 2013, down by 3.15% compared to its previous quarter revenue of 2.97 billion US$.
Rich Templeton, TI's chairman, president and CEO says "TI is now firmly rooted in Analog and Embedded Processing, and in the first quarter these segments contributed 77 percent of our revenue – a full five points more than a year ago."
TI has done well in analog IC business with a revenue fall by 1% compared to previous quarter and its microcontroller and other embedded solutions business is down by 3% compared to 4Q2012. The revenue is fall is mainly in the non-analog and non-embedded IC area which TI calls as "Other".
On its analog IC business, TI says in its release "Compared with a year ago, revenue decreased due to lower Silicon Valley Analog revenue. High Volume Analog & Logic revenue and High Performance Analog revenue also declined while revenue from Power Management increased.
Compared with the prior quarter, revenue was about even as lower revenue from High Volume Analog & Logic and Power Management was offset by higher revenue from Silicon Valley Analog and High Performance Analog."
On its Embedded Processing which includes Processors, Microcontrollers and Connectivity, TI says
"Compared with the year-ago quarter, the increase in revenue was primarily due to higher Microcontroller revenue. Revenue from Connectivity also increased, while Processor revenue was about even.
Compared with the prior quarter, revenue increased due to Microcontrollers. Processor revenue declined while Connectivity revenue was about even.
Operating profit declined from a year ago primarily due to lower gross profit. Operating profit decreased from the prior quarter due to higher operating expenses."
On its Other's category which includes DLP products, custom ASIC products, calculators, royalties and legacy wireless products, TI says
"Compared with the year-ago quarter, revenue declined primarily due to lower revenue from legacy wireless products. The year-ago quarter also included proceeds that did not recur from business interruption insurance associated with the Japan earthquake. Revenue from custom ASIC products and calculators also declined. Revenue from DLP products and royalties increased.
Compared with the prior quarter, revenue declined primarily due to lower revenue from legacy wireless products. Revenue from custom ASIC products and royalties also declined. Revenue from calculators increased and from DLP products was about even.
Operating profit increased from a year ago primarily due to lower operating expenses. Operating profit increased from the prior quarter due to lower restructuring charges."