Texas Instruments Inc. reconfirmed its outlook for the fourth quarter, saying it expected revenue to fall about 10 percent sequentially due in part to continued semiconductor weakness, Reuters reported.
The Dallas, Texas-based company, in a filing with the Securities and Exchange Commission, said quarterly semiconductor revenue is expected to fall about 5 percent compared to the third quarter.
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“It appears that third quarter of 2001 will mark the bottom for semiconductor orders, and the floor for revenue should be set in the fourth quarter,” the company said in the filing.
Texas Instruments is also looking for a loss per share of about 6 cents more in the fourth quarter compared to the third before the effect of special charges and amortization of goodwill and other acquisition-related items.
