TXN Conference Call Summary

TXN Conference Call Summary courtesy of Briefing.com

Not a whole lot of forward-looking statements here in the presentation, mostly a rehash of the press release. Believe that analog is going to help grow the business significantly, as it is very fragmented and there is plenty of room for market share gains. Saying they expect LowCosto to be the basis for over 50% of their shipments to low end wireless market by the end of the year. Saying that inventory correction is over in semi-conductors and they expect to continue to gain share in '07. Saying that gross margins were up despite a decline in revs because of reduced overall manufacturing costs. Says they have been trying to grow inventories right now to meet expected demand during the next growth cycle. Talking about their partner-agreements saying mostly positive stuff. Only negative thing was that Nokia has a new supplier for low end products, but it didn't seem to be a major problem. OpEx growth will moderate as they have eliminated about $200 mln in projects. Werent willing to talk about new goals above 25% on operating margins yet, but implied at some point in the future. Stock trading at $35.45 After Hours