DALLAS, March 7, 2013 /PRNewswire/ -- In a scheduled update to its business outlook for the first quarter of 2013, Texas Instruments Incorporated (TI) (NASDAQ: TXN) today narrowed its expected ranges for revenue and earnings per share (EPS) to the upper half of its prior expected ranges.
The company currently expects its financial results to be within the following ranges:
- Revenue: $2.80 – 2.91 billion compared with the prior range of $2.69 – 2.91 billion
- EPS: $0.28 – 0.32 compared with the prior range of $0.24 – 0.32. EPS includes about $0.06 of acquisition and restructuring charges. It also includes a discrete tax benefit of $0.06 resulting from the reinstatement of the R&D tax credit that was retroactive to the beginning of 2012.
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 2012 earnings release on January 22. TI's first quarter ends on March 31.
Safe Harbor Statement"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.