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Telecomunicaciones y tecnología

Texas Instruments narrows outlook range


    NEW YORK (Reuters) - Texas Instruments Inc narrowed its first-quarter forecast for earnings and revenue on Monday after it said it was idling factories and reducing inventory after a sharp fall-off in demand.

    TI, a maker of chips for everything from cellphones to industrial equipment, now expects to post first-quarter results ranging from a loss of 8 cents per share to breakeven. On January 26, it forecast a range from a loss of 11 cents to a profit of 3 cents a share, including a restructuring charge of 3 cents per share.

    It now expects revenue in a range of $1.79 billion to $2.05 billion, compared with its previous forecast ranging from $1.62 billion to $2.12 billion.

    Analysts, on average, expected revenue of $1.868 billion, according to Reuters Estimates.

    TI, which trails Qualcomm Inc in the market for mobile phone chips, will cut its workforce by about 12 percent to reduce expenses amid shrinking revenue.

    Its shares fell 4 cents after the news to $14.65 after closing at $14.69, down 2 cents on New York Stock Exchange.

    (Reporting by Sinead Carew; editing by Jeffrey Benkoe)