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Home  >  austin accounting  >  Texas Instruments sees decrease in financials, blames Japan earthquake

Texas Instruments sees decrease in financials, blames Japan earthquake

Posted on Wednesday, April 27th, 2011 at 6:27 pm.

TTexas Instruments Inc. has received estimates on their financial results and have blamed the Japanese earthquake for their disappointing results.

The first-quarter revenue was recorded at $3.39 billion, which is down from $3.525 billion from the year. A net income of $666 million was also posted and earnings per share were at 55 cents.

This number was previously at $948 million and 78 cents per share. The company has said that this decrease is due to the earthquake in Japan where they have a water fab in Miho. The CEO stated that the company is recovering well and making progress after the disaster in Japan.

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