| Texas Instruments Inc. (TXN.N: Quote, Profile , Research), the world's biggest maker of chips for cellphones, said on Monday its quarterly profit rose from a year ago due to a tax credit. TI, which makes chips for everything from calculators to the latest high-tech televisions, said its fourth-quarter profit was $668 million, or 45 cents a share, compared with $655 million, or 40 cents a share, in the year-ago quarter. Revenue rose to $3.46 billion from $3.32 billion. In December, TI cut its forecast for earnings per share from continuing operations to a range of 37 cents to 40 cents, and cut its revenue target to a range of $3.35 billion to $3.50 billion. Its shares have fallen almost 16 percent in the last four months on investor concern that wireless industry growth is increasingly dependent on the sale of cheaper phones in emerging markets. |
