Fueled in part by growth in the semiconductor business, Texas Instruments Inc. saw first-quarter revenue jump 20 percent over last year.
For the quarter ending March 31, the Dallas-based company garnered more than $2.19 billion in revenue, a jump over the $1.83 billion it generated in Q1 2002. Texas Instruments earned $117 million, compared with a $38 million loss during the same time last year.
According to the company, semiconductor revenue grew 23 percent over the same period last year due to shipments of DSPs (digital signal processors), Digital Light Processing and analog products.
"TIs semiconductor position strengthened in the first quarter as we introduced the worlds fastest DSP, the worlds first fully functional wireless digital baseband made with 90-nanometer process technology and the worlds first concept design for integrating three different wireless technologies—Wi-Fi, Bluetooth and 2.5G—in personal digital devices," Tom Engibous, the companys chairman, president and CEO, said in a prepared statement.
For the second quarter, Texas Instruments officials said they expect revenue to grow about 7 percent over the first quarter, with semiconductor growth to be about 4 percent.