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Texas Instruments Narrows Guidance

NEW YORK (TheStreet) -- Texas Instruments (TXN) narrowed its first-quarter outlook to the higher end of its prior estimates after market close.

The semiconductor specialist expects first-quarter revenue to between $2.8 billion and $2.91 billion, compared to its prior guidance of $2.69 billion to $2.91 billion.

Texas Instruments expects earnings between 28 cents and 32 cents a share, compared to its earlier range of 24 cents to 32 cents a share. The latest forecast includes about 6 cents of acquisition and restructuring charges and a discrete tax benefit of 6 cents related to the reinstatement of the R&D tax credit.

Analysts surveyed by Thomson Reuters are looking for revenue of $2.8 billion and earnings of 31 cents a share.

Shares of Texas Instruments, which had warned of weak demand when it reported its fourth-quarter results in January, dipped 0.26% to $35.11 in extended trading.

--Written by James Rogers in New York

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