Earnings Call Excerpt
Texas Instruments Inc. (TXN)
Q1 2006 Earnings Conference Call
April 18th 2006, 4:30 PM.
Executives:
Ron Slaymaker, Vice President, Investor Relations
Kevin March, Senior Vice President, Chief Financial Officer
Analysts:
Adam Parker, Sanford Bernstein
Glen Yeung, Citigroup
Cody Acree, Stifel Nicolaus
James Covello, Goldman Sachs
Michael Masdea, Credit Suisse
Ambrish Srivastava, Harris Nesbitt
Chris Danely, JP Morgan
Tom Thornhill, UBS
David Wu, Global Crown Capital
John Lau, Jefferies and Company
Mark Edelstone, Morgan Stanley
Charlie Glavin, Needham & Company
Tim Luke, Lehman Brothers
Allan Mishan, CIBC World Markets
Chris Caso, FBR
Michael McConnell, Pacific Crest Securities
Tristan Gerra, Robert Baird
Jim Schneider, Wedbush Morgan Securities
Joseph Osha, Merrill Lynch
Sumit Dhanda, Banc of America Securities
Presentation
Operator
Good evening ladies and gentlemen, my name is Genie and I will be your conference facilitator today. At this time I would like to welcome everyone to the Texas Instruments First Quarter 2006 Earnings Conference Call. Operator's Instructions Thank you. It is now my great pleasure to turn the floor over to your host, Mr. Ron Slaymaker. Sir, you may begin your conference.
Ron Slaymaker, Vice President, Investor Relations
Good afternoon and thank you for joining our first quarter earnings conference call. Kevin March, TI’s Chief Financial Officer is with me today. For any of you who missed the release you can find it on our website at ti.com/ir. This call is being broadcast live over the web and can be accessed through TI's website. A replay will be available through the web.
This call will include forward-looking statements that involve risk factors that could cause TI's results to differ materially from management's current expectations. We encourage you to review the safe harbor statement contained in the earnings release published today as well as TI's most recent SEC filings for a complete description. Our mid-quarter update to our outlook is scheduled this quarter for June 8th. We expect to narrow or adjust the revenue and earnings guidance ranges as appropriate with this update. We will observe a quiet period beginning on June 1st until the update.
In today's call, I'll review our highlights of revenue performance, and then Kevin will discuss profit performance and the second quarter outlook. We will keep our remarks short, saving time for us to respond to your questions. In this call all of our financial results will be described for continuing operations, including historical comparisons unless otherwise indicated. The Sensors and Controls business is reported as a discontinued operation, and we expect the sale of this business to close in the current quarter. To facilitate your modeling, we had included the historical information for the continuing operations by quarter for the year 2005 and by year through 2003 on our website.
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