Recently, Texas Instruments (TXN) or “TI” narrowed its revenue and earnings expectations for the fourth quarter of 2012. The chipmaker now expects sales of $2.89–$3.01 billion versus its previous guidance of $2.83–$3.07 billion. The earnings outlook has also been trimmed to 5–9 cents from the previous guidance of 23–31 cents. The current earnings guidance includes 21 cents of charges associated with previously announced restructuring in the company’s Wireless segment. Recently, TI announced its restructuring program wherein the company plans to cut 1,700 jobs worldwide in order to reduce operational costs, shut down its wireless chip operations, and concentrate on embedded solutions like automobiles, industrial and other non-consumer markets, which have a longer life cycle. The company expects to incur total charges of approximately $325 million in the fourth quarter. It
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