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Texas Instruments' Management Hosts Third Quarter 2013 Mid-Quarter Update Conference (Transcript)

Texas Instruments Inc. (TXN) Third Quarter 2013 Mid-Quarter Update Conference September 10, 2013 5:00 PM ET


Ron Slaymaker - Vice President of Investor Relations

Dave Pahl - Director of Investor Relations


Gabriela Borges - Goldman Sachs Group Inc., Research Division

Stephen Chin - UBS Investment Bank, Research Division

Timothy M. Arcuri - Cowen and Company, LLC, Research Division

C. Adeline Lee

William Stein - SunTrust Robinson Humphrey, Inc., Research Division

Christopher Rolland - FBR Capital Markets & Co., Research Division

Gabriel Ho

Craig Hettenbach - Morgan Stanley, Research Division

Sameer Kalucha - JP Morgan Chase & Co, Research Division

Erik Rasmussen - Stifel, Nicolaus & Co., Inc., Research Division


Good day, and welcome to the Texas Instruments' Third Quarter 2013 Mid-Quarter Update Conference Call. Today's call is being recorded. At this time, I would like to turn the conference over to Ron Slaymaker. Please go ahead.

Ron Slaymaker

Good afternoon. Thank you for joining TI's mid-quarter financial update for the third quarter of 2013. Dave Pahl from our Investor Relations team is also joining me today. In a moment, I will provide a short summary of TI's current expectations for the quarter, updating the revenue and EPS estimate ranges for the company. In general, we will not provide detailed information on revenue trends by segments or end markets, and we will not address details of profit margins. In our earnings release at the end of this quarter, we will provide this information. As usual with our mid-quarter update, we will not be taking follow-up calls this evening, considering the limited information available at this point in the quarter. And in consideration of everyone's time, we will limit this call to 30 minutes. For any of you who missed the release, you can find it and relevant non-GAAP reconciliations on our website at ti.com/ir. This call is broadcast live over the web and can be accessed through TI's website. A replay will be available through the web.

This call will include forward-looking statements that involve risks and uncertainties that could cause TI's results to differ materially from management's current expectations. We encourage you to review the Safe Harbor statement contained in the news release published today as well as TI's most recent SEC filings for a more complete description.

We have narrowed our expected ranges for TI's revenue and earnings around the middle of our previous ranges. We now expect TI revenue between $3.15 billion and $3.29 billion. We expect earnings per share between $0.51 and $0.55.

Operator, you can now open the lines for questions. [Operator Instructions] Operator?

Earnings Call Part 2: