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Texas Instruments Inc. had third-quarter net income as sales increased 22 percent on rising demand for consumer electronics. The company plans to cut 500 jobs.
Net income was U.S. $188 million, or $0.11 a share, compared
with a net loss of $117 million, or $0.07 a share, a year earlier. Sales rose to $2.25 billion from $1.85 billion, the Dallas, TX, U.S.-based chipmaker said. Fourth-quarter net income
is expected to break-even on a per-share basis "plus or minus a few cents," with sales falling 10 percent from the period that ended in September, according to the company.
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