Article Abstract:
Texas Instruments (TI) Inc reports its sixth consecutive loss. Nevertheless, industry observers are somewhat optimistic because downsizing- and cost cutting-measures seem to be taking hold. Texas Instruments eliminated 6,000 jobs during 1991, taking a one-time charge of $240 million, which resulted in a loss of $85 million. However, CEO and Chmn Jerry R. Judkins projects $220 million in annual savings, which suggest an operating profit of $12 million in the 4th qtr. Judkins is optimistic, foreseeing a return to profitability in 1992. TI needs to improve its 4M-bit dynamic random access memory (DRAM) production operations. Three Japanese companies - Hitachi, Toshiba and NEC - taken together, sold 86 million such units in 1991, but TI sold only 3.5 million. TI's stock was down 75 cents on Friday, Jan 24, 1992, closing at $35.
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Article Abstract:
Texas Instruments Inc reports a profitable quarter after six consecutive loosing quarters. Results for the quarter include net income of $40 million, compared with a net loss of $54 million for the same period a year ago. Texas Instruments also reports a 3 percent increase in revenue to $1.69 billion. Analysts attribute the strong report to cost reduction efforts, higher royalty payments and improved demand for the company's products. The company has reduced its payroll 6,400 through layoffs and voluntary retirement programs; TI's current payroll is 61,806 employees worldwide. Royalty collection increased during the quarter, thanks to a one-time $30 million payment from two Japanese companies; TI's total royalty revenue equaled $95 million. The company's computer chip unit contributed nearly half of the quarter's revenues.
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Article Abstract:
President George Bush said he will not block the sale of Semi-Gas Systems Inc to Nippon Sanso of Japan even though the company is a major supplier of gas distribution and control systems for the US semiconductor industry. The industry is trying to catch up with Japanese competition. Officials at Sematech, which is the government-industry alliance that hopes to bolster the US semiconductor industry, have threatened to cancel the contract with Semi-Gas Systems if the deal with the Japanese goes through. Nippon intends to acquire Semi-Gas Systems from Hercules Inc, a chemical producer that bought Semi-Gas Systems for $5 million in 1987.
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