The fourth quarter results for Texas Instruments (TXN) were just fine. Revenue was up 4% compared to the same quarter last year, hitting $3.46 billion. Wall St. may concentrate on the drop from Q3, but that would be a mistake.
The most critical number in the announcement was TI’s gross margin of 50.5%. The number could have been much worse given the pressures that customers like Motorola (MOT) and Nokia (NOK) are experiencing.
Revenue in the first quarter of 2007 is expected to be $3.01 billion to $3.28 billion. Not great, but hardly a bloody mess.
A little TXN rally tomorrow. Probably.
No harm. No foul.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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