In a scheduled update to its business outlook for the second quarter of 2011, Texas Instruments Incorporated (TI) (NYSE: TXN) today narrowed and lowered its expected ranges for revenue and earnings per share (EPS).
The company currently expects its financial results to be within the following ranges:
- Revenue: $3.36 – 3.50 billion, compared with the prior range of $3.41 – $3.69 billion
- EPS: $0.51 – 0.55, compared with the prior range of $0.52 – 0.60
So you are saying the initial guidance reduction from April 18 was not... transitory?
And here is the wildcard that will be used over... and over... and over....
TI specifically notes that circumstances arising out of the recent earthquakes and tsunami in Japan,
including disruptions and increased costs of TI's production,
disruptions in our supply chain (including utilities) and reduced or
delayed demand from customers, could cause actual results to differ from
the expectations of TI or its management.
Oh differ they will.
In the meantime, stocks realize just how thin the line from transitory to permanent is.