TI Results Meet Street View

In an interview with TheStreet.com, TI's March said that Wall Street's estimates didn't reflect TI's June announcement to sell its DSL business to Infineon Technologies (IFX).

Only one month's worth of the DSL's business's roughly $50 million a quarter in sales is now expected to count toward TI's third-quarter's results, March said, which explains the shortfall in the guidance relative to the Street.

And while March acknowledged that the recovery from the chip industry downturn is not setting the world on fire, he said some of that owed to changes in the dynamics of the industry. Instead of placing large chip orders ahead of time, for example, customers are currently just ordering what they need -- a better reflection of true demand, said March.

"When we look at this, we don't think of it as being disappointing at all. In fact it looks to us like a very orderly and healthy return to normal," said March.

TI projected third-quarter EPS between 46 cents and 52 cents. Analysts were looking for EPS of 49 cents.

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