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TI Reports Higher Q3 Revenue, Income

10/24/2006 08:53:00 AM Eastern

Dallas – Texas Instruments reported higher net revenue and net income for the third quarter ended Sept. 30.

Net revenue was $3.76 billion, up from $3.34 billion for last year’s third quarter. Net income was $702 million up from $631 million during the same time last year. And gross profit for the quarter was $1.93 billion, up from $1.7 billion.

“The third quarter was one of the best in TI’s history” said Rich Templeton, president/CEO. “Our strong gross and operating margins reflected the value of our product portfolio, rich in analog and DSP products.”

Among the quarter’s highlights for TI was LG Electronics selecting its OMAP-Vox platform for a new series of EDGE cellphones. Another highlight was that TI customers demonstrated upcoming models of slim DSP high-definition TVs, which reduce the television cabinet depth to about 10 inches and are very lightweight, enabling flexible installation options, TI said.