Texas Instruments Inc. (NYSE: TXN) reported late Monday that its first quarter net income rose 1% to $666 million or 55 cents per share, from $658 million, or 52 cents a share, in the year-ago quarter. The chipmaker said the earnings were impacted by about 2 cents a share due to the Japan earthquake.Revenue climbed to $3.39 billion from $3.20 billion. Analysts, on average, expected the company to report earnings of 58 cents per share on revenue of $3.40 billion.
Looking ahead, the company said that it anticipates second quarter revenue in the range of $3.41 billion to $3.69 billion, and earnings per share of 52 cents a share to 60 cents a share. This estimate includes a negative impact of about 5 cents for costs resulting from the earthquake and its aftermath in Japan. TI will update its second-quarter outlook on June 8, 2011.
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