today announced that revenues were down from the first quarter a year ago,
due to the decline in prices of dynamic random access memory
TI said however, that revenue and orders for digital signal processing
solutions (DSPS) increased in the first quarter
from the same period a year
ago, driven by record orders for wireless communications.
Average unit prices for DRAMs dropped 60 percent from the first quarter of
1997 to the first quarter of 1998, resulting in a loss in TI's memory
operations that was more than double that of the year-ago quarter. The
memory operating loss was $129 million.
The turmoil in Asia and customer inventory reductions during the first
quarter of 1998 affected its semiconductor business.
Net revenues for the first quarter of 1998 were $2.19 billion, compared
with $2.26 billion in the first quarter of 1997. Revenues in the first
quarter of 1997 included revenues from TI businesses that have since been
sold, primarily software. Excluding sold businesses, TI's revenues were
down 1 percent from a year ago.
Results for the first quarter include special charges of $244 million,
primarily for discontinuing the DRAM manufacturing joint venture with