德州儀器 (TXN) 2003 Q2 法說會逐字稿

Please stand by for the realtime transcript of this conference call. the Texas Instruments, Inc. call will begin shortly.

請耐心等待本次電話會議的即時文字記錄。德州儀器 (TI) 公司的電話會議即將開始。

Welcome ladies and gentlemen to the Texas Instruments second quarter earnings conference call.

歡迎女士們、先生們參加德州儀器 (TI) 第二季財報電話會議。

At this time, all participants have been placed in a listen-only mode and the floor will be open for questions following the presentation.

此時，所有參與者均已處於僅聽模式，演示後將開放提問。

It is my pleasure to turn the floor over to your host, Ron Slaymaker.

我很高興將發言權交給主持人 Ron Slaymaker。

Sir, the floor's yours.

先生，地板是你的了。

Good afternoon and thank you for joining our second quarter earnings conference call.

下午好，感謝您參加我們的第二季財報電話會議。

With me is Bill Aylesworth, TI's chief financial officer, also joining us today is Kevin March which will become TI 's CFO effective October 1 as Bill will retire at the end of this year.

與我同行的有 TI 財務長 Bill Aylesworth，今天加入我們的還有 Kevin March，他將於 10 月 1 日起擔任 TI 首席財務官，因為 Bill 將於今年年底退休。

In a moment, Bill will provide his perspective on TI's results for the quarter.

稍後，Bill 將發表他對 TI 本季業績的看法。

This call will last one hour.

這次通話將持續一小時。

For any of you who missed the release it's on the website at www.ti.com/ir .

如果您錯過了該發布，請造訪 www.ti.com/ir 網站。

This call is being broadcast live over the web and can be accessed through TI's website.

此次電話會議正在透過網路進行現場直播，您可以透過 TI 網站進行存取。

A replay will be available through the web.

重播將透過網路進行。

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.

本次電話會議將包括涉及風險因素的前瞻性陳述，這些風險因素可能導致 TI 的績效與管理階層目前的預期有重大差異。

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.

我們鼓勵您查看今天發布的收益報告中包含的安全港聲明以及 TI 最近向 SEC 提交的文件，以了解完整的說明。

Before I turn it over to Bill to review the quarter, let me discuss some adjustments that we are making to our guidance process.

在我將其交給比爾審查本季之前，讓我討論一下我們正在對指導流程進行的一些調整。

Historically we have communicated the midpoint of our guidance range but did not specifically include other and upper bounds of management's estimates around the revenue and earnings estimates although we always indicated such uncertainty or range in our guidance existed, we did not quantify the range.

從歷史上看，我們傳達了指導範圍的中點，但沒有具體包括管理層對收入和盈利估計的其他估計和上限，儘管我們總是表明我們的指導中存在這種不確定性或範圍，但我們沒有量化該範圍。

Beginning with our third quarter outlook, we will explicitly communicate the expected range relating to the revenue and earnings estimates.

從第三季展望開始，我們將明確傳達與收入和獲利預測相關的預期範圍。

We hope this additional information will be useful to you in better understanding some of the dynamics that surround our business.

我們希望這些附加資訊能幫助您更了解我們業務的一些動態。

We also plan to hold a mid-quarter review to update this guidance.

我們還計劃進行季度中期審查以更新本指南。

At this update, we may narrow or adjust the guidance range if appropriate.

在此更新中，我們可能會在適當的情況下縮小或調整指導範圍。

This quarter our update is scheduled to be held on September 9 and will include a press release as well as a conference call.

本季的更新計劃於 9 月 9 日舉行，其中包括新聞稿和電話會議。

We will observe a quiet period beginning on September 1 until the update.

我們將從 9 月 1 日開始觀察一段靜默期，直至更新。

Between now and the mid quarter update, we may reaffirm our guidance range although we will not communicate our expectations inside the range.

從現在到季度中期更新，我們可能會重申我們的指導範圍，儘管我們不會在該範圍內傳達我們的期望。

After the mid-quarter update we do not intend to reaffirm our expectations prior to the quarterly earnings release.

在季度中期更新之後，我們不打算在季度收益發布之前重申我們的預期。

I'll now ask that Bill provide a review of the quarter and then we will open the lines for your questions.

我現在請比爾提供本季的回顧，然後我們將開放您的提問熱線。

Bill?

帳單？

Thank you, Ron and good afternoon everyone.

謝謝羅恩，大家下午好。

Second quarter revenue exceeded the expectations we set in early June.

第二季度收入超出了我們六月初設定的預期。

Mostly reflecting better than expected demand for TI's wireless semiconductor products.

主要反映了對 TI 無線半導體產品的需求優於預期。

Although wireless revenue declined 5% sequentially, stronger demand from a mix of OEM and ODM customers during the final few days of the quarter resulted in higher wireless revenue than we had expected when we provided our financial update on June 10.

儘管無線收入環比下降 5%，但本季最後幾天 OEM 和 ODM 客戶的需求更加強勁，導致無線收入高於我們在 6 月 10 日提供財務更新時的預期。

Semiconductor revenue outside of wireless maintained the strength that we had expected.

無線以外的半導體收入維持了我們預期的強勁勢頭。

Growing 7% sequentially.

季增 7%。

Overall, TI revenue increased 7% sequentially compared with our June expectation of 5% and grew 8% from the year ago quarter.

整體而言，TI 營收季增 7%，而我們 6 月的預期為 5%，較去年同期成長 8%。

Semiconductor revenue in the second quarter was up 3% sequentially and up 9% from the year ago quarter.

第二季半導體營收季增 3%，比去年同期成長 9%。

Sensors and Controls revenue was up 3% sequentially and up 4% compared with the year ago quarter.

感測器和控制收入較上季成長 3%，與去年同期相比成長 4%。

Educational and Productivity Solutions or E&PS revenue increased 104% sequentially, and increased 4% from the year ago quarter as retailers stocked educational calculators in advance of the back-to-school season.

教育和生產力解決方案或 E&PS 收入環比增長 104%，較去年同期增長 4%，原因是零售商在返校季之前備貨了教育計算器。

In Semiconductor, DSP revenue was about even sequentially, and was up 21% compared with the year ago quarter.

在半導體領域，DSP 營收與上一季基本持平，與去年同期相比成長了 21%。

DSP revenue was negatively impacted by the sequential decline in wireless shipments, but it benefitted from significantly higher shipments to the digital consumer market and to broadband customers, especially DSL.

DSP 收入受到無線出貨量持續下降的負面影響，但受益於數位消費市場和寬頻客戶（尤其是 DSL）出貨量的大幅增加。

For the first half of 2003, DSP revenue was about 30% of total Semiconductor revenue.

2003年上半年，DSP收入約佔半導體總收入的30%。

Analog revenue grew 5% sequentially, and 4% compared with the year ago quarter.

模擬收入較上季成長 5%，與去年同期相比成長 4%。

The sequential analog growth was the result of increased shipments of display drivers, broadband products, and high-performance analog catalog products.

模擬連續成長是顯示驅動器、寬頻產品和高性能類比目錄產品出貨量增加的結果。

More than offsetting a decline in wireless analog products.

足以抵銷無線模擬產品的下滑。

For the first half of 2003, analog revenue was about 40% of total Semiconductor revenue.

2003 年上半年，模擬收入約佔半導體總收入的 40%。

In our other semiconductor revenue, standard logic grew sequentially at double digit rates while RISC microprocessors grew in line with overall semiconductor growth.

在我們的其他半導體收入中，標準邏輯以兩位數的速度連續成長，而 RISC 微處理器的成長與半導體整體成長一致。

DLP microcontrollers and royalties had single digit sequential declines.

DLP 微控制器和特許權使用費出現個位數連續下降。

From an end equipment perspective, revenue from shipments into the wireless market declined 5% on a sequential basis, but grew 16% compared with the year ago quarter.

從終端設備的角度來看，無線市場的出貨量較上季下降了 5%，但與去年同期相比成長了 16%。

The sequential decline was most pronounced in products for 2G hand sets and resulted from excess inventory, and slowing hand set demand particularly in Asia.

2G 手機產品較上季下降最為明顯，這是由於庫存過剩以及手機需求放緩（尤其是亞洲地區）造成的。

By channel, sales of chip sets to Asian ODMs were especially impacted in the quarter.

從通路來看，本季對亞洲 ODM 的晶片組銷售受到的影響尤其嚴重。

Although OEM revenue was also below our initial expectation.

儘管OEM收入也低於我們最初的預期。

Chip set sales were down about 25% sequentially. 2.5G-related hand set revenue continued to grow sequentially and was over 60% of total wireless revenue in the second quarter. 2.5G digital base band processors continued to carry more than twice the price of 2G digital base bands.

晶片組銷售額較上季下降約 25%。 2.5G相關手機營收持續較上季成長，第二季佔無線總營收的60%以上。 2.5G數位基頻處理器繼續承載2G數位基帶兩倍以上的價格。

For the first half of 2003, wireless revenue was about 30% of total Semiconductor revenue.

2003 年上半年，無線收入約佔半導體總收入的 30%。

Broadband revenue grew 44% sequentially, driven by strong demand for both DSL and wireless LAN.

受 DSL 和無線 LAN 強勁需求的推動，寬頻營收季增 44%。

Although broadband is a small part of our revenue today, we continue to expect it to be a much bigger part of our future.

儘管寬頻僅占我們今天收入的一小部分，但我們仍然期望它在我們的未來中佔據更大的份額。

Our market share gains in broadband are very encouraging.

我們在寬頻領域的市佔率成長非常令人鼓舞。

For the first half of 2003, broadband revenue was about 5% of total semiconductor revenue.

2003年上半年，寬頻收入約佔半導體總收入的5%。

In catalog products, the combination of catalog DSP and high-performance analog revenue grew 6% sequentially.

在目錄產品中，目錄 DSP 和高效能模擬收入相結合，季增了 6%。

Led by high performance analog.

以高性能模擬為主導。

High-performance analog revenue in turn was driven by strength in audio video products for digital consumer as well as power management products for portable battery-powered applications.

高性能類比收入反過來又受到數位消費者音訊視訊產品以及便攜式電池供電應用電源管理產品的強勁推動。

TI's gross profit was $877 million in the second quarter, or 37.5% of revenue, gross margin was down 1.8 percentage points compared with the first quarter.

TI第二季毛利為8.77億美元，佔營收的37.5%，毛利率較第一季下降1.8個百分點。

Mostly due to the $43 million of restructuring charges in cost of revenue in the second quarter.

主要是由於第二季收入成本中 4,300 萬美元的重組費用。

Semiconductor gross profit was $743 million or 38.6% of revenue.

半導體毛利為 7.43 億美元，佔營收的 38.6%。

The 1.4 percentage points sequential decline in gross margin was mostly attributable to product mix as much of the revenue growth in the quarter came from newer products that are still ramping to mature manufacturing yields and from commodity products that are affected by cyclical price pressures.

毛利率季減 1.4 個百分點，主要歸因於產品組合，因為本季的營收成長大部分來自仍在向成熟製造產量邁進的新產品以及受週期性價格壓力影響的大宗商品。

Gross profit margin in Sensors and Controls was 37.6%, and 57% in E&PS in the second quarter.

第二季感測器和控制領域的毛利率為 37.6%，E&PS 領域的毛利率為 57%。

Both of these segments had solid gross margin expansion in both the sequential as well as year on year comparisons.

在連續比較和同比比較中，這兩個部門的毛利率都有穩健的成長。

Total operating expenses of $752 million in the second quarter were up $43 million compared with the first quarter but maintained about the same level as a percentage of revenue.

第二季總營運費用為 7.52 億美元，比第一季增加 4,300 萬美元，但佔收入的比例基本上保持在同一水平。

Operating profit was $125 million, or 5.3% of revenue in the second quarter quarter.

營業利潤為 1.25 億美元，佔第二季營收的 5.3%。

Operating profit declined compared with the first quarter, due to the impact of the $49 million of restructuring charges.

受 4,900 萬美元重組費用的影響，營業利潤較第一季下降。

Operating margin in semiconductor was 6.5%, Sensors and Controls was 26%, and E&PS was 37.1%.

半導體部門的營業利潤率為 6.5%，感測器和控制部門為 26%，E&PS 部門為 37.1%。

Fore TI, other income and expense including interest income, investment gains or losses and other items produced income of $36 million in the quarter, up from $14 million in the first quarter due to the nonrecurrence of the $10 million charge in the first quarter to redeem a convertible note as well as lower net investment losses in the quarter.

對於TI，其他收入和支出，包括利息收入、投資損益和其他項目，本季產生的收入為3,600 萬美元，高於第一季的1,400 萬美元，原因是第一季不再發生1,000 萬美元的贖回費用可轉換票據以及本季淨投資損失減少。

Interest expense paid on loans was $10 million in the quarter, down $3 million from the first quarter due to the company's lower debt level.

由於公司債務水準較低，本季支付的貸款利息支出為 1,000 萬美元，較第一季減少 300 萬美元。

Long-term debt declined by $123 million in the second quarter, mostly due to the maturing of $103 million of 9.25% notes.

第二季長期債務減少了 1.23 億美元，主要是因為 1.03 億美元的 9.25% 票據到期。

The company's effective tax rate was 20% in the second quarter.

該公司第二季的有效稅率為20%。

This was lower than the 24% we had previously expected, due to a revision in the company's expected tax rate for the year to 22%.

這低於我們先前預期的 24%，原因是該公司今年的預期稅率調整為 22%。

Combined with the resulting cumulative catch-up tax benefit of $3 million.

加上由此產生的累計 300 萬美元的追趕稅收優惠。

Net income grew to $121 million or 7 cents per share.

淨利潤增至 1.21 億美元，即每股 7 美分。

The quarter's results included $25 million of amortization of acquisition-related costs, and $49 million of restructuring charges, on a pre-tax basis.

該季度的業績包括稅前 2,500 萬美元的收購相關成本攤提和 4,900 萬美元的重組費用。

Total cash was $4,183,000,000 was up $38 million compared with the first quarter an increase by $709 million from the year ago quarter.

現金總額為 41.83 億美元，較第一季增加 3,800 萬美元，較去年同期增加 7.09 億美元。

Cash flow from operations was $378 million, up $182 million compared with the prior quarter.

營運現金流為 3.78 億美元，比上一季增加 1.82 億美元。

Capital expenditures of $162 million in the quarter were up compared with $132 million in the first quarter.

本季資本支出為 1.62 億美元，較第一季的 1.32 億美元增加。

Accounts receivable increased sequentially by $75 million due to seasonally higher sales of E&PS products in the quarter.

由於本季 E&PS 產品銷售額季節性成長，應收帳款季增 7,500 萬美元。

Day sales outstanding were 55 days at the end of the second quarter, compared with 56 days at the end of the first quarter.

第二季末的每日銷售額為 55 天，而第一季末為 56 天。

Inventory in the second quarter increased $118 million sequentially, primarily to support reduced product lead times.

第二季庫存較上季增加 1.18 億美元，主要是為了支持縮短的產品交貨時間。

Days of inventory increased to 62 days at the end of the second quarter, compared with 60 days at the end of the first quarter.

庫存天數從第一季末的 60 天增加到第二季末的 62 天。

TI's orders in the second quarter were $2,311,000,000 and semiconductor orders were $1,901,000,000, both were about even with the first quarter level.

TI第二季訂單金額為23.11億美元，半導體訂單金額為19.01億美元，皆與第一季水準基本持平。

Semiconductor's book-to-bill ratio was .99 in the second quarter, compared with 1.03 in the prior quarter.

第二季半導體公司的訂單出貨比為 0.99，而上一季為 1.03。

Turning to our expectations for the third quarter, we currently expect total TI revenue to be in the range of 2290, to $2,490,000,000.

談到我們對第三季的預期，我們目前預計 TI 總營收將在 2,290 美元至 24.9 億美元之間。

Semiconductor revenue should be in the range of $1890 to $2,050,000,000 million.

半導體收入應在 1890 美元至 20.5 億美元之間。

Sensors and Controls in the range of 230 to $250 million, and E&PS in the range of 170 to $190 million.

感測器和控制裝置的價格為 23 至 2.5 億美元，E&PS 的價格為 1.7 至 1.9 億美元。

Earnings per share are expected to be in the range of 19 cents to 23 cents, including a 13-cent per share contribution from our previously announced sale of 24.7 million shares of Micron stock.

每股盈餘預計在 19 美分至 23 美分之間，其中包括我們先前宣佈出售 2,470 萬股美光股票帶來的每股 13 美分貢獻。

The effective tax rate for the year is now estimated to be 22%, exclusive of the Micron transaction, down from our prior estimate of 24%.

目前估計今年的有效稅率為 22%（不含美光交易），低於我們先前估計的 24%。

The Micron sale will result in an increase of $230 million to net income in the third quarter.

美光科技的出售將​​使第三季淨利增加 2.3 億美元。

This includes a $106 million pretax gain that will be recorded in Other income, as well as a $162 million tax benefit that was previously reserved when the company recorded a write-down of these shares in the fourth quarter of 2002.

這包括將記入其他收入的 1.06 億美元稅前收益，以及公司在 2002 年第四季記錄這些股票減記時保留的 1.62 億美元稅收優惠。

The pretax gain will be taxed at the company's U.S. tax rate of 35%.

稅前收益將按該公司美國35%的稅率課稅。

Third quarter results will also include about $45 million in restructuring charges.

第三季業績還將包括約 4,500 萬美元的重組費用。

We would expect the restructuring charges to drop down to about one-third this level in the fourth quarter, and then drop to approximately $10 million per quarter in 2004.

我們預計第四季的重組費用將下降至這一水準的三分之一左右，然後在 2004 年下降至每季約 1,000 萬美元。

For the year 2003, we continue to expect R&D expense to be about $1.7 billion, capital expenditures to be about $800 million and depreciation to be about $1.4 billion.

我們繼續預期 2003 年研發費用約 17 億美元，資本支出約 8 億美元，折舊約 14 億美元。

In summary, we're encouraged that our revenue maintained its growth in the quarter despite weakness in the wireless market.

總之，儘管無線市場疲軟，但我們的營收在本季仍保持成長，這讓我們感到鼓舞。

We're especially encouraged that growth is coming from areas such as broadband, this should become increasingly important to TI's results in the years ahead.

我們尤其感到鼓舞的是寬頻等領域的成長，這對 TI 未來幾年的表現應該變得越來越重要。

Although the restructuring actions impact our near-term results, we believe they will make TI operations stronger when completed.

儘管重組行動影響了我們的近期業績，但我們相信重組行動完成後將使 TI 業務更加強大。

Finally, our relatively low capital expenditures reflect both the available production capacity that we have internally, from earlier investments, especially for analog, as well as our strategy of increasing the mix of advanced logic production that is done at third party foundries.

最後，我們相對較低的資本支出反映了我們內部擁有的可用生產能力，來自早期的投資，特別是模擬，以及我們增加第三方代工廠完成的先進邏輯生產組合的策略。

We will continue to maintain our focus on increasing our capital efficiency as we move forward to keep our cash flow strong.

在我們繼續保持強勁現金流的同時，我們將繼續專注於提高資本效率。

With that, let me turn it back to Ron.

說到這裡，讓我把話題轉回給羅恩。

Thank you, Bill.

謝謝你，比爾。

At this time, I'll ask the operator to open the lines up for your questions.

此時，我會請接線生開通電話，解答您的問題。

In order to provide as many of you as possible an opportunity to ask your questions, please limit yourself to a single question.

為了給盡可能多的人提問的機會，請限制自己提出一個問題。

After our response, I will provide you an opportunity for an additional follow-up.

在我們回覆後，我將為您提供額外的跟進機會。

Operator?

操作員？

Ladies and gentlemen, the floor is now open for questions and comments.

女士們、先生們，現在可以提問和發表評論。

If you do have a question or comment, press numbers 1 followed by 4 on the telephone keypads at this time.

如果您確實有問題或意見，請此時按電話鍵盤上的數字 1，然後按 4。

If your question has already been asked and you would like to remove yourself from the queue, press the pound key.

如果您的問題已被提出並且您想要將自己從佇列中刪除，請按井號鍵。

Please not we do ask that you pick up your hand set while posing your question to provide optimum sound quality.

請不要要求您在提出問題時拿起手機，以提供最佳音質。

Our first question comes from Nimal Vallipuram with DKW.

我們的第一個問題來自 DKW 的 Nimal Vallipuram。

Yes, Bill, as far as the wireless market is concerned, you indicated that the orders at the end of the quarter from OEM and the ODM customers, to some extent, made up of the weakness you expected -- you were placing at just at the beginning of the customer, mostly from the ODM market.

是的，比爾，就無線市場而言，您表示季度末來自 OEM 和 ODM 客戶的訂單在某種程度上彌補了您預期的疲軟 - 您的訂單量僅為最開始的客戶，大多來自ODM市場。

If you can give us some color on what exactly was happening and how that was coming into the third quarter.

您能否告訴我們具體發生了什麼以及第三季的情況如何。

And I do have a second part of the question, it's that your largest customer, Nokia, last Friday indicated that they are facing intense price pressure.

我確實有問題的第二部分，那就是你們最大的客戶諾基亞上週五表示他們面臨巨大的價格壓力。

I'm not too sure why that is happening but in your case your 2.5G sets that you have been receiving just a premium over the 2G.

我不太清楚為什麼會發生這種情況，但就您的情況而言，您的 2.5G 套餐僅比 2G 收取溢價。

Can it possibly be because of the price pressure, some of your customers are facing, that you might be forced to bring down the prices you've been receiving on the 2.5G chip sets as well?

是否可能是由於您的一些客戶面臨的價格壓力，您可能也被迫降低 2.5G 晶片組的價格？

Thanks.

謝謝。

Yes, Nimal, the wireless strength in demand we saw at the end of the second quarter was from a combination of ODM and OEM customers.

是的，Nimal，我們在第二季末看到的無線需求強勁來自 ODM 和 OEM 客戶。

We would think that it related mainly to demand in Asia.

我們認為這主要與亞洲的需求有關。

And from that indication and general indications, we think -- we would think that the exreme market weakness we saw in the middle of the second quarter in Asia induced by SARS is certainly abating, and, in fact, we would be cautiously optimistic that the worst may be behind us and behind our customers in wireless in Asia, at least for the near term here.

從這個跡象和一般跡象來看，我們認為，我們在亞洲第二季中期看到的由 SARS 引起的極度市場疲軟肯定正在減弱，事實上，我們對最糟糕的情況可能已經過去，也已經過去了我們亞洲無線客戶的情況，至少在短期內是如此。

At the same time, we think it is still the case that our customers in Asia have excess inventories of hand sets, and so there are clearly cross currents to how that will play out in the third quarter quarter.

同時，我們認為亞洲客戶的手機庫存仍然過剩，因此第三季的情況顯然存在分歧。

With respect to pricing pressures, that are in wireless and that our customers experience as well in their products, certainly priceing declines and will continue to decline on particular products, for example, a particular 2.5G base band device, over time, and that's in part because of the pressures of the marketplace, it's, in fact, in large part because we can cost-reduce that product, increase the integration, and offer that benefit to our customers as well.

就無線領域的定價壓力而言，我們的客戶在他們的產品中也經歷過這種壓​​力，隨著時間的推移，特定產品的價格肯定會下降，並將繼續下降，例如特定的2.5G 基頻設備，這是在部分是因為市場的壓力，事實上，很大程度上是因為我們可以降低產品成本，提高整合度，並為我們的客戶提供這種好處。

But the fact is that even with pricing on a particular device declining, both for 2.5G and for 2G, it's the case that the relationship between the two has continued to be the case that 2.5G base band for us is -- continues to be at prices more than two times the price for 2G.

但事實是，即使特定設備的價格下降，無論是 2.5G 還是 2G，兩者之間的關係仍然是這樣的，即 2.5G 基帶對我們來說仍然是這樣的。價格是2G價格的兩倍多。

And it's also the case Nimal, I would point out, that in general and the second quarter was a case in point, year-over-year, for example, that our wireless revenues grew faster than our units grew.

我想指出的是，尼馬爾的情況也是如此，總的來說，第二季度就是一個很好的例子，例如，我們的無線收入成長速度快於我們的部門成長速度。

So that again for us the blend of overall pricing, if you look across total wireless for us, continues to benefit from the greater percentage of content that we have in the 2.5G area.

因此，如果你看看我們的整個無線業務，我們的整體定價將繼續受益於我們在 2.5G 領域擁有的更大比例的內容。

Thank you.

謝謝。

Thanks.

謝謝。

Our next question comes from John Barton with Wachovia Securities.

我們的下一個問題來自美聯證券的約翰巴頓。

Yes, good afternoon, thank you.

是的，下午好，謝謝。

Bill, I wonder if you can comment on the CDMA efforts, I know it's relatively early but feedback from customers with respect to acceptance of the product outside of Nokia.

Bill，我想知道您是否可以對 CDMA 方面的工作發表評論，我知道現在還比較早，但客戶的反饋表明諾基亞以外的地區對該產品的接受程度。

And then your thoughts also on an ASP trend for the base bands going into the CDMA, or dollars per hand set, however you can slice it kind of comparable to how you look at 2G versus 2.5G, please?

然後，您對進入 CDMA 的基帶的 ASP 趨勢，或者每部手機的美元價格，也有什麼看法，但是您可以將其劃分為類似於您看待 2G 與 2.5G 的方式嗎？

John, I would say we are quite encouraged by the feedback we've had on CDMA to date, and in terms of our -- the product that we'll be sampling in chip set form in the third quarter here, and as you know, you asked for the feedback outside of Nokia, in effect, all the feedback we're getting on the chip set is outside of Nokia because we have for some time, and continue to provide them a custom-based band chip that they incorporate into their own CDMA offerings.

約翰，我想說的是，我們對迄今為止關於 CDMA 的反饋感到非常鼓舞，就我們的產品而言，我們將在第三季度以芯片組形式提供樣品，正如您所知，您詢問了諾基亞之外的回饋，實際上，我們在晶片組上獲得的所有回饋都來自諾基亞之外，因為我們已經有一段時間了，並繼續為他們提供基於定制的頻段晶片，並將其納入其中他們自己的CDMA產品。

So the chip set will be exclusive of that and in addition to that as well.

因此，晶片組將排除這一點，並且除此之外。

We are certainly encouraged by that.

我們當然對此感到鼓舞。

It is premature to talk about pricing, the detailed pricing is not out there yet.

現在談論定價還為時過早，詳細定價尚未公佈。

Our intention would certainly be that pricing will be competitive for that market.

我們的意圖當然是定價對該市場來說具有競爭力。

In general, we would think we would be taking to our customers the proposition that they change their chip or chip set supplier to use this chip set and so that would indicate that pricing will be competitive, but beyond that, it's really premature before we sample to say anything further about pricing there, John.

總的來說，我們認為我們會向客戶提出這樣的建議：他們更換晶片或晶片組供應商以使用該晶片組，這表明定價將具有競爭力，但除此之外，在我們採樣之前確實為時過早約翰，進一步談談那裡的定價。

John, I'm not sure, I completely understood your question on pricing, but also in terms of general content trends, you know, even outside of what we would describe as the modem function, we expect that the trends will be very favorable for TI in terms of content for hand sets.

約翰，我不確定，我完全理解你關於定價的問題，而且就一般內容趨勢而言，你知道，即使在我們所描述的調製解調器功能之外，我們預計趨勢將非常有利於TI 在手機內容方面。

So in other words, things like GPS location, WiFi interfaces, blue tooth interfaces, additional applications processors which tend to be the trend in these new smart phone applications.

換句話說，諸如 GPS 定位、WiFi 介面、藍牙介面、附加應用處理器之類的東西往往是這些新智慧型手機應用的趨勢。

All of those areas will help drive TI's content per hand set higher over the next few years, we believe.

我們相信，所有這些領域都將有助於在未來幾年內提​​高 TI 的每手牌含量。

Okay, thank you, John.

好的，謝謝你，約翰。

Operator, next caller, please.

接線員，請接聽下一位來電者。

Our next question is from Dan Niles with Lehman Brothers.

我們的下一個問題來自雷曼兄弟的丹·尼爾斯。

Great, thank you.

太好了謝謝。

Bill, with regard to the guidance, the midpoint of the range your Semiconductor revenues are up 2%, just so I could understand this better, within that assumption are you assuming wireless revenue to grow faster or slower than that?

比爾，關於指導，您的半導體收入範圍的中點增長了 2%，只是為了讓我更好地理解這一點，在這個假設下，您是否假設無線收入增長得更快或更慢？

And then you answered a question prior that I'm not sure I caught it correctly.

然後你之前回答了一個問題，我不確定我是否正確理解了它。

Did you say the wireless revenues grew faster than units sequentially or was that a year-over-year statement with regards to the two?

您是說無線收入的成長速度快於單位數量的環比成長速度，還是這兩者的年成長速度？

Dan and with respect to our expectation expectations for the third quarter, we acknowledge that one can calculate a midpoint of the range that we give.

丹，關於我們對第三季的預期，我們承認可以計算出我們給出的範圍的中點。

We don't intend to give particular meaning or relevance to any particular point within the range.

我們無意為該範圍內的任何特定點賦予特定含義或相關性。

I would say that our outlook for wireless would be that, you know, certainly this is -- continues to be into the season where our wireless customers are building for their holiday season.

我想說的是，我們對無線的展望是，你知道，這當然是——繼續進入我們的無線客戶為他們的假期做好準備的季節。

So historically and seasonally that means that our customers are continuing to bring in components in anticipation of primarily the holiday season to some extent, probably the back-to-school season as well.

因此，從歷史和季節性來看，這意味著我們的客戶將繼續引入組件，主要是在某種程度上預期假期，也可能是返校季。

And we are also continue to be encouraged by the acceptance in the marketplace of the more highly featured 2.5G, GPRS phones where we continue to get the ASP benefit as well.

市場對功能更強大的 2.5G、GPRS 手機的接受度也讓我們繼續受到鼓舞，我們也持續獲得 ASP 收益。

The cross current there is that I think we still have to be cautious that our customers in Asia, would still appear to have some excess inventories, even with the stronger demand that we saw later in the second quarter.

存在的問題是，我認為我們仍然必須保持謹慎，我們的亞洲客戶仍然會出現一些過剩的庫存，即使我們在第二季度晚些時候看到了更強勁的需求。

So, we have tried to integrate all of those inputs and market factors into how we've incorporated wireless into our expectations for the second quarter.

因此，我們試圖將所有這些投入和市場因素整合到我們如何將無線納入我們對第二季的預期中。

With respect to the comment about units and prices, it really applies in both cases.

關於單位和價格的評論，它確實適用於這兩種情況。

In the case of the 16% year-over-year growth in wireless revenues, units grew several points slower than that.

在無線收入年增 16% 的情況下，單位成長速度比這慢幾個百分點。

And the balance was from the continued benefit we get of the move towards 2.5G.

平衡來自於我們從邁向 2.5G 中獲得的持續效益。

In that mix.

在那種混合中。

On a sequential basis, in effect, it's the same concept but the numbers kind of go the other way; units declined for us more than the 5% decline in wireless revenues sequentially and again that meant we continued to benefit from the higher content of 2.5G base bands in our total mix.

實際上，從順序來看，這是相同的概念，但數字卻相反；我們的單位數量下降超過無線收入 5% 的下降幅度，這再次意味著我們繼續受益於我們整體組合中 2.5G 基帶的更高含量。

Thank you, Dan.

謝謝你，丹。

Thanks, Dan.

謝謝，丹。

Operator, next caller please.

接線員，請下一個來電者。

Thank you Mr. Niles.

謝謝奈爾斯先生。

Our next question comes from Cody Acree with Legg Mason.

我們的下一個問題來自 Legg Mason 的 Cody Acree。

Thanks, guys and let me just say Bill, we're going to miss you and congratulations on your retirement.

謝謝，夥計們，讓我只想說，比爾，我們會想念你並祝賀你退休。

Maybe you can talk a little bit about utilization.

也許你可以談談利用率。

Where did that fall during the quarter and with the inventory build that you had, how do you see that working off and how does that impact utilization going forward?

本季的下降幅度在哪裡？隨著您的庫存增加，您認為這種情況的效果如何？這對未來的利用率有何影響？

Cody, thank you for your comments.

科迪，謝謝您的評論。

Utilization for us in the second quarter was really, we would characterize as about the same as the first quarter, which I think we characterized as just over the mid-70s.

我們第二季的利用率實際上與第一季大致相同，我認為我們將其描述為剛剛超過 70 年代中期。

And again that's in a mix across our overall areas in terms of our advanced logic, you know, we're loading up our DMOS6 facility, and so that is more highly loaded.

就我們的高級邏輯而言，這又是我們整個領域的混合體，您知道，我們正在加載我們的 DMOS6 設施，因此負載更高。

Our analog capacity on average is below that average.

我們的平均模擬容量低於該平均值。

It is true that our inventories increased in the second quarter although I think if you look at just our own inventories, ex-foundry, they probably didn't grow as much first to second as they did in the first quarter.

確實，我們的庫存在第二季度有所增加，儘管我認為如果你只看我們自己的庫存（不包括代工廠），它們可能沒有像第一季那樣增長那麼多。

But in any event, that really is an important competitive dynamic that we have in terms of our making sure that we have product for our customers with, you know, the short lead times in the market today, and even how our custom-- our products for customers, how our customers want that.

但無論如何，這確實是一個重要的競爭動力，我們確保為客戶提供產品，您知道，當今市場的交貨時間很短，甚至我們的定制 - 我們的為客戶提供產品，我們的客戶想要什麼。

I might ask Kevin to talk a little bit more about why we're deliberately increasing that inventory and how that helps our customers.

我可能會請凱文多談談為什麼我們故意增加庫存以及這如何幫助我們的客戶。

Sure, Bill.

當然，比爾。

We've been on a campaign for several quarters now to slowly increase the staging of our inventory into different positioning in order to meet customer lead times that have gotten considerably shorter by their needs, and this enables us to respond.

幾個季度以來，我們一直在進行一項活動，慢慢地將庫存增加到不同的位置，以滿足因客戶需求而大大縮短的交貨時間，這使我們能夠做出回應。

So in other words, we have built our inventory through to what we call die stock, which is closer to a finished good stage, that's enabled us to be able to meet a much shorter order lead time than we typically would do in the past.

換句話說，我們已經將庫存建立到我們所說的模具庫存，這更接近成品階段，這使我們能夠滿足比過去通常更短的訂單交貨時間。

We cut out a lot of the production cycle time.

我們削減了大量的生產週期時間。

That in turn allows us to respond to customers who either are lacking visibility and let's us respond to them more quickly or who in fact may have new opportunities they previously didn't anticipate and allows us to try to fill those opportunities for them.

這反過來又使我們能夠回應那些缺乏可見性的客戶，讓我們更快地回應他們，或者實際上可能擁有他們以前沒有預料到的新機會，並允許我們嘗試為他們填補這些機會。

I might also point out that the inventory build in second quarter was also somewhat associated with the June 10 announcement that we made about wireless revenues going a little bit lower than we had previously planned for and clearly the inventory was on its way through the production phases to meet our previously anticipated demand levels.

我還可能指出，第二季的庫存增加也與 6 月 10 日我們發布的關於無線收入略低於我們先前計劃的公告有關，並且顯然庫存正在進入生產階段以滿足我們先前預期的需求水準。

And in a third location, as most folks are aware, the E&PS business is cyclically up in second quarter and third quarter and the inventory builds a bit in support of their market requirements also.

在第三個地點，正如大多數人所知，E&PS 業務在第二季和第三季呈現週期性成長，庫存也有所增加，以支持其市場需求。

Okay.

好的。

Cody, did you have -- I'm not sure we specifically addressed the utilization question.

科迪，你有嗎——我不確定我們是否專門解決了利用率問題。

I would describe utilization in the second quarter about the same as first quarter, and in general, as revenue builds over time, utilization should track with that.

我認為第二季的利用率與第一季大致相同，一般來說，隨著收入隨著時間的推移而增加，利用率也應該隨之變化。

Did you have a follow-up question, Cody?

科迪，你還有後續問題嗎？

Yeah, I did, Ron.

是的，我做到了，羅恩。

Can you talk a little about backlog and turns activity?

能談談積壓和周轉活動嗎？

Bill you talked a little about giving some cushion for the uncertainty of Asian inventories and activity there.

比爾，您談到了為亞洲庫存和活動的不確定性提供一些緩衝。

Are there any other segments that, within your backlog, within the kind of end applications, that you're giving a little more room for?

在您的積壓工作中，在最終應用程式的類型中，是否還有其他部分需要您留出更多空間？

Cody, even, for example, in wireless, even for some of our custom product, it may be to our advantage to enable our customers to have a window of shipment opportunity, for example.

科迪，甚至在無線領域，甚至對於我們的一些客製化產品，讓我們的客戶擁有一個發貨機會窗口可能對我們有利。

So you know--it's made specifically for a particular customer.

所以你知道——它是專門為特定客戶製作的。

They're going to take the product, but by our staging it in the inventory and our customer being able to pull that in effect in a window of time, it helps them and in effect gives us a competitive advantage as well.

他們將要購買該產品，但透過我們將其存放在庫存中，並且我們的客戶能夠在一段時間內有效地獲得該產品，這對他們有所幫助，實際上也為我們帶來了競爭優勢。

So that's another example there.

這是另一個例子。

Even with all that, I would say that our turns business, if that's broadly defined as the, you know, amount of revenues in a quarter that we can track, we actually entered the order in the quarter as well, has really stayed pretty constant for the last, you know, really two or three-quarters.

即便如此，我想說，如果將其廣泛定義為我們可以跟踪的一個季度的收入金額，我們實際上也在該季度輸入了訂單，那麼我們的業務確實保持了相當穩定最後，你知道，實際上是四分之三。

Now, the fact is that is quite a bit higher than it was, you know, the low point of the cycle for our turns business was in year 2000 when there were back orders and we had to schedule a product way out in time.

現在，事實是這個數字比以前高了很多，你知道，我們的車削業務週期的最低點是在 2000 年，當時有延期交貨，我們必須及時安排產品出路。

But with our ability to stage, as Kevin was describing as well, our turns, amount of our revenues that we in effect turn in a quarter has stayed pretty stable now.

但正如凱文所描述的那樣，憑藉我們的舞台能力，我們的周轉率、我們實際上在一個季度內的收入金額現在保持相當穩定。

Okay.

好的。

Thank you, Cody.

謝謝你，科迪。

Operator, next caller, please?

接線生，請問下一個來電者嗎？

Thank you Mr. Acree.

謝謝阿克里先生。

Our next question from Chris Danely with JP Morgan.

我們的下一個問題來自摩根大通的克里斯·丹利（Chris Danely）。

Just a follow on Cody's question a little bit.

只是稍微跟進一下科迪的問題。

Can you just give us a sense of, you know, where inventory is going at TI?

您能否讓我們了解一下 TI 的庫存情況？

Do you think it will go up again this quarter or down?

您認為本季會再次上漲還是下跌？

Also, inventory in the channel, too, and, you know, it sounds like utilization rates are doing okay.

此外，通路中的庫存也一樣，而且，聽起來利用率也不錯。

Are you guys pulling back on your foundry orders in order to help the utilization rates at TI?

你們是否會減少代工訂單以提高 TI 的使用率？

Chris, I think it's not appropriate to try to offer a visibility on where TI's inventory is going to be in the third quarter.

Chris，我認為試圖提供有關 TI 第三季庫存狀況的可見性是不合適的。

That will relate to, you know, as we go through the quarter, what our views are getting out to the fourth quarter as well.

你知道，這將關係到我們對本季的看法，以及我們對第四季的看法。

And that's probably premature to try to comment on that at this time.

現在對此發表評論可能還為時過早。

Look in the various channels, our market channels and where our customers have inventory, we would say that today that really it's only wireless, and we think wireless in Asia where there is truly excess inventories that still remain from all of what happened in Asia in wireless in the second quarter.

看看各種管道，我們的市場管道以及我們的客戶有庫存的地方，我們會說，今天這實際上只是無線，我們認為亞洲的無線確實存在過剩的庫存，這些庫存仍然存在於亞洲發生的所有事情中。第二季無線。

That other than that, pretty much across the board inventories are not in excess, and are reasonable.

除此之外，幾乎所有庫存都沒有過剩，而且處於合理水準。

And as that relates to our planning our production strategies, we would plan to continue to augment our advanced logic production with foundry as we have been doing in the second quarter, as we hit the weaker conditions that we encountered, and we commented on in early June, we, in fact, decreased some of our own production, we decreased foundry production as well.

由於這與我們規劃生產策略有關，我們計劃繼續透過代工來增強我們的先進邏輯生產，就像我們在第二季度所做的那樣，因為我們遇到了我們遇到的較弱的條件，我們在早些時候評論過六月份，我們實際上減少了​​我們自己的一些產量，我們也減少了鑄造廠的產量。

But that's the normal kind of things with a volatile market that you have to do.

但這是在市場波動的情況下你必須做的正常事情。

And we would consider that we are very much following the strategy that we described with two qualified foundry sources for product, and then one further case where we're using a foundry for the back end of an operation exactly as we've been describing it for a period of time.

我們認為，我們非常遵循我們所描述的策略，使用兩個合格的產品代工廠來源，然後是另一種情況，即我們使用代工廠進行操作的後端，正如我們所描述的那樣在一段時間內。

Okay, thanks for your questions, Chris.

好的，謝謝你的提問，克里斯。

Next caller, please?

請問下一位來電者嗎？

Our next question comes from Michael Masdea with Credit Suisse First Boston

我們的下一個問題來自瑞士信貸第一波士頓的 Michael Masdea

Thanks a lot and Bill you do reflect well on your profession and we're going to miss you.

非常感謝比爾，你對你的職業做出了很好的反思，我們會想念你的。

In terms of the inventories, maybe we can address an issue it seems like it might be popping up at least in my mind, where we're still hearing about customer shortening leave time somewhat.

就庫存而言，也許我們可以解決一個問題，它似乎至少在我的腦海中突然出現，我們仍然聽說客戶稍微縮短了休假時間。

Is that something that's cyclical and you know our customers are--your customers are still just trying to get as lean as possible and it's going to pop back when things get tight or is this somewhat of a secular change where reduced manufacturing lead times potential and more hub inventory management, et cetera, this is something that we just need to get used to?

這是週期性的事情嗎？您知道我們的客戶是這樣的——您的客戶仍然只是試圖盡可能地精簡，當情況變得緊張時，它會突然回來，或者這是否是一種長期的變化，減少製造提前期的潛力和更多的中心庫存管理等等，這是我們只需要習慣的事情嗎？

Well Michael, thank you for your comment, and, in fact, I guess I could say with my very long experience in the industry, it seems to me that there is probably a cyclical part of these lead times that we should not overlook that the world doesn't always just go to a new paradigm of very short lead times.

好吧，邁克爾，謝謝您的評論，事實上，我想我可以說，以我在該行業的長期經驗，在我看來，這些交貨時間可能有一個週期性的部分，我們不應該忽視世界並不總是會採用交貨時間非常短的新模式。

That certainly where we are in the marketplace today and again we think that TI can operate in that environment to a competitive advantage with our financial strength and the understanding we have of our customers.

當然，我們現在所處的市場環境也是如此，我們再次認為，憑藉我們的財務實力和對客戶的了解，TI 可以在這種環境下運營，從而獲得競爭優勢。

But certainly many times in the past, as the Semiconductor industry has gone through cycles when capacity tightens and it's harder to get commitments for orders and lead times in fact start to stretch out, then the idea can or the importance of having orders secured can be -- become more important than the idea of having the ability to draw very rapidly from an inventory.

但在過去很多次，由於半導體行業經歷了產能收緊的周期，並且更難獲得訂單承諾，而且交貨時間實際上開始延長，那麼這個想法或獲得訂單的重要性就可以是——變得比能夠快速從庫存中提取的能力更重要。

So I think that is certainly possible.

所以我認為這當然是可能的。

Again, at some point in the future, but really the important point certainly is in the near term, we are in a -- in an environment where our ability to offer a very competitive or a short lead times to customers offers a competitive advantage and we continue to intend to do that.

再說一遍，在未來的某個時刻，但真正重要的一點肯定是在短期內，我們所處的環境是，我們有能力為客戶提供非常有競爭力或較短的交貨時間，從而提供競爭優勢，並且我們繼續打算這樣做。

Thank you, Michael.

謝謝你，麥可。

Do you have a follow-up question Michael?

您還有後續問題嗎？麥可？

Yeah real quick.

是啊，真快。

A follow-up on the earlier wireless question.

先前無線問題的後續。

You guys talked about a positive mix is this just purely 2.5G where TI's benefitting more so than others?

你們談到了一個積極的組合，這只是純粹的 2.5G，TI 比其他公司受益更多？

Or was there a hand set mix issue?

或者是否存在手動設定混合問題？

Because that seems to be contrary to what all the OEMs have said.

因為這似乎與所有 OEM 廠商的說法相悖。

Could you clarify what you mean when you say was there a hand set?

當你說有手機時，你能澄清一下你的意思嗎？

You hear about lots of OEMs talking about a mix shift to more of the low end phones, you guys come out and talk about a better mix shift for your product.

你聽說很多 OEM 廠商都在談論向更多低階手機的混合轉型，你們也出來討論為你的產品進行更好的混合轉型。

Isthat just all phones are going 2.5G slowly but surely?

是不是所有手機都在緩慢但堅定地轉向 2.5G？

There's possibly some cross currents there.

那裡可能存在一些橫流。

In fact, we saw a specific and very significant decline in the low feature phones for Asia, Michael, in the second quarter as the quarter unfolded.

事實上，隨著第二季的展開，邁克爾，我們看到亞洲的低功能手機出現了具體且非常顯著的下降。

And, in fact, our chip-set revenues which are largely, but although not totally, 2G rather than 2.5G, our chip-set revenues were down 25% sequentially in the second quarter.

事實上，我們的晶片組收入大部分（但不是全部）是 2G 而不是 2.5G，第二季度我們的晶片組收入環比下降了 25%。

So I mean, that's probably more of an indication of the very weak market conditions, the SARS-related market weakness in Asia than anything else, but you know, that was a clear factor in the overall marketplace for us.

所以我的意思是，這可能更多地表明市場狀況非常疲軟，亞洲與非典相關的市場疲軟，但你知道，這對我們來說是整個市場的一個明顯因素。

And our OEM revenues which tend to be as much as anything, probably more of a mix towards the 2.5G, while we indicated they were a little lower than we originally expected, in fact, just on a -- an absolute basis, quarter to quarter, were basically flat sequentially.

我們的 OEM 收入往往與任何東西一樣多，可能更多地是 2.5G 的混合，雖然我們表示它們比我們最初預期的要低一些，事實上，只是在絕對基礎上，季度到一季度基本持平。

The declines we saw in wireless were really all in chip set, therefore, more in the low featured area.

我們在無線領域看到的下降實際上都是在晶片組方面，因此更多是在低功能領域。

Right.

正確的。

The only thing I would add Michael is that a lot of that is almost customer-specific as well.

麥可我唯一要補充的是，其中許多內容幾乎也是針對特定客戶的。

In other words what we saw with the chip set decline was a very significant drop, especially on 2G chip sets.

換句話說，我們看到晶片組的下降是非常顯著的，特別是在 2G 晶片組上。

In the case of the OEM revenue that Bill said was more 2.5G weighted we actually saw a little bit of a mixed shift in the quarter from what we had expected earlier in the quarter where we saw some pullbacks on some of the 2.5G.

就比爾所說的 OEM 收入而言，2.5G 權重更大，我們實際上在本季度看到了與本季度早些時候的預期不同的混合變化，當時我們看到一些 2.5G 出現了一些回調。

So overall, 2.5G grew as a percentage of the mix but certainly the 2.5G revenue didn't attain the level that we had forecasted internally earlier in the quarter.

因此，總體而言，2.5G 在整個組合中所佔的百分比有所增長，但 2.5G 收入肯定沒有達到我們本季度早些時候內部預測的水平。

So again, some of the dynamics are customer-specific, or channel-specific as well.

同樣，有些動態是特定於客戶或特定於管道的。

Thanks, that helps a lot.

謝謝，這很有幫助。

Thank you, Michael.

謝謝你，麥可。

Next caller, please.

請下一位來電者。

Our next question comes from Eric Rothdotch with Friedman, Billings, Ramsey.

我們的下一個問題來自埃里克·羅斯多奇和弗里德曼、比林斯、拉姆齊。

Hi thanks, Bill can you give an idea of what percentage of your production was on for the advanced logic products were on either 300-millimeter and 90-nanometer?

您好，謝謝，Bill，您能否透露一下您的先進邏輯產品生產中 300 毫米和 90 奈米製程的比例是多少？

Yes, Erik we are not in production yet on 90 nanometer, our objective is that we will qualify--we'll qualify first actually in 200-millimeter and our [INAUDIBLE] in 90-nanometer, we think that will be before the end of the year and the first quarter of next year our objective is to be qualified in 90-nanometer on 300-millimeter in DMOS6 as well.

是的，Erik，我們還沒有在90 奈米上進行生產，我們的目標是我們將獲得資格- 我們將首先在200 毫米中獲得資格，而我們的[聽不清] 在90 奈米中，我們認為這將在結束之前今年和明年第一季度，我們的目標是在 DMOS6 的 90 奈米、300 毫米製程上也取得合格資格。

So our advanced logic currently is-- Our primarily 130 nanometer also I think 180 nanometer is probably still characterized as advanced logic and Ron, you probably have this statistics there, do you want to comment on what-- what percent that is?

所以我們目前的先進邏輯是——我們主要是 130 奈米，我認為 180 奈米可能仍然被認為是先進邏輯，羅恩，你可能有這個統計數據，你想評論一下——這個百分比是多少嗎？

Right.

正確的。

The percent of our advanced logic capacity that is 300 millimeters, about 30%.

我們的先進邏輯容量的百分比是300毫米，大約是30%。

Which would put it probably in the 10 to 15% range of TI's total capacity.

這可能會佔 TI 總產能的 10% 到 15%。

Meaning including analog and other logic technologies as well.

含義還包括模擬和其他邏輯技術。

Does that answer your question, Erik?

這能回答你的問題嗎，艾瑞克？

Yes, it did thanks guys.

是的，確實謝謝大家。

Do you have a follow-up question?

您還有後續問題嗎？

No, I don't.

不，我不。

Okay, thanks Eric.

好的，謝謝艾瑞克。

Next caller , please.

請下一位來電者。

Our next question comes from Andrew Root with Goldman Sachs.

我們的下一個問題來自高盛的安德魯·魯特。

Thanks.

謝謝。

Just coming back to the guidance issue a bit, in prior quarters, the point estimate that you would have given, would that have been the expected value or the midpoint of the range or was it shaded based on customer confidence in a particular quarter, so it might have been standard deviation to the better when things were going well or to the worse when things were tougher.

稍微回到指導問題，在前幾個季度，您給出的點估計是預期值或範圍的中點，還是根據特定季度的客戶信心進行陰影化，所以當事情進展順利時，它可能是更好的標準差；當事情更困難時，它可能是更糟的標準差。

To that extent, what sense do you have that the ODM, and ODM customers really know what's going on in the end markets and that their end forecast is stable for Q3?

從這個意義上來說，您認為 ODM 和 ODM 客戶真正了解終端市場的情況以及他們對第三季的最終預測是穩定的意義？

Andrew, I'm not sure it's relevant for us to try to comment on what our point estimate really was.

安德魯，我不確定嘗試評論我們的點估計到底是什麼與我們相關。

We've had those discussions internally, frankly, they get a bit metaphysical I would say in terms of what we really mean.

坦白說，我們在內部進行了這些討論，我想說的是，就我們真正的意思而言，它們有點形而上學。

Clearly it was meant to be our best view of the expectations as we were expressing them.

顯然，當我們表達期望時，這就是我們對期望的最佳看法。

We now think it's more meaningful to express that in a range, since we were always, you know, noted that our point estimate had an "about" with it as well to convey that range.

我們現在認為在一個範圍內表達這一點更有意義，因為我們總是注意到我們的點估計也有一個「大約」來表達這個範圍。

We really think it's more meaningful to explicitly convey the range and then all of the various cross currents and volatility and risk can be analyzed within that.

我們確實認為明確傳達範圍更有意義，然後可以在其中分析所有各種交叉流、波動性和風險。

And certainly the width of the range is a function of both how we feel about specifically this quarter, the environment, the volatility, and historically how we've been able to perform in a quarter based on what our view and our range was going in.

當然，範圍的寬度取決於我們對本季度的具體感受、環境、波動性，以及歷史上我們根據我們的觀點和範圍在一個季度中的表現。 。

So it is certainly not meant to imply that there's any greater stability in the world -- and of our customers of the OEMs and ODMs, for example,.

因此，這當然並不意味著世界有更大的穩定性，例如我們的 OEM 和 ODM 客戶的穩定性。

I think the width of the -- of our revenue range is an indication that we are--continue to be in a volatile industry, and that our customers, you know, may change their minds and in either direction as we go through the quarter and we'll try to be positioned to the best of our ability to react and take advantage of that.

我認為我們收入範圍的寬度表明我們仍然處於一個不穩定的行業，而且我們的客戶，你知道，可能會在我們整個季度的任何一個方向上改變他們的想法我們將盡力做出最好的反應並利用這一點。

To your question on do we have confidence that our OEM and ODM customers' forecasts are stable, you know, this really gets back to some of the cross currents Bill was talking about earlier.

對於你的問題，我們是否有信心我們的 OEM 和 ODM 客戶的預測是穩定的，你知道，這確實回到了 Bill 之前談到的一些橫流。

We saw demand very late in second quarter that three weeks earlier we had not seen coming.

我們在第二季很晚的時候就看到了需求，而三週前我們還沒有看到需求。

So on the one hand, the fact that we saw some renewed demand is encouraging, yet on the other hand, even in their public statements to the investor communities we hear many of our big customers still talking about excess hand set inventory, especially in the Asian market.

因此，一方面，我們看到一些新的需求這一事實令人鼓舞，但另一方面，即使在他們向投資者群體發表的公開聲明中，我們也聽到許多大客戶仍在談論手機庫存過剩，特別是在亞洲市場。

So I think that there are certainly some mixed signals that are still out there and it's partly for -- part of the reason for the strategy that Kevin was describing, which is that we are, in fact, staging inventory even in wireless, and it's based on we don't want TI or our customers to miss upside opportunities that frankly they may not have visibility into.

因此，我認為肯定存在一些混合信號，部分原因是凱文所描述的策略的部分原因，即我們實際上甚至在無線領域也正在分階段庫存，而且這是基於我們不希望TI 或我們的客戶錯過上行機會，坦白說，他們可能看不到這些機會。

So hopefully that answers your question.

希望這能回答你的問題。

Yeah, in a metaphysical fashion.

是的，以一種形而上學的方式。

Can I ask a follow-up question? .

我可以問後續問題嗎？ 。

A slightly different topic, the announcement on DMOS7, the eventual DMOS7 spurted as the quarter went along.

另一個稍微不同的主題是 DMOS7 的發布，最終的 DMOS7 隨著本季的進展而迅速發展。

Is there any impact from announcements your customers might have on their 300-millimeter plans thinking specifically of an ST micro that seems ready to build, [INAUDIBLE] if they go earlier, do you have the luxury of sort of executing on your current plan to improve or would you be forced into doing something a little earlier?

您的客戶發布的公告可能會對他們的 300 毫米計劃產生任何影響嗎？特別是考慮到似乎已準備好構建的 ST 微型，[聽不清楚]如果他們提前行動，您是否有機會執行當前的計劃改善還是你會被迫提前做某件事？

Andrew, I would say that we are, you know, our plans are really not contingent or based on anybody else's plans.

安德魯，我想說的是，我們的計劃實際上不是偶然的，也不是基於任何其他人的計劃。

The announcement of the next site selection that we made for the next 300mm facility is really just part of our long-term basically a seemless plan of when we believe we'll need the more advanced logic capacity after we fill up DMOS6.

我們為下一個 300mm 設施做出的下一個選址公告實際上只是我們長期計劃的一部分，基本上是一個無縫計劃，當我們相信在填滿 DMOS6 後我們將需要更先進的邏輯容量時。

And DMOS6 by the end of this year will be no more than a third or so full, I guess, in terms of capacity as well.

我想，到今年年底，DMOS6 的容量也不會超過三分之一左右。

So we think we have a lot of flexibility with that.

所以我們認為我們在這方面有很大的靈活性。

And, in fact, you know, while the announcement we made was a $3 billion capital expenditure in total, I think it's relevant to note that that, while that's what we intend to do over a period of time, that may turn out to be over certainly multiple years and won't even begin for, we're not quite sure how long, as we proceed from site selection to permitting and so on.

事實上，你知道，雖然我們宣布的資本支出總額為 30 億美元，但我認為值得注意的是，雖然這是我們打算在一段時間內做的事情，但結果可能是肯定會持續多年，甚至還不會開始，我們不太確定需要多長時間，因為我們從選址到獲得許可等等。

In fact, I might ask Kevin to comment just a little bit more because he's very experienced in you know the building fads and the multiyear, multiquarter rollout of these capital expenditures.

事實上，我可能會要求凱文多評論一點，因為他對建築時尚以及這些資本支出的多年、多季度的推出非常有經驗。

Yes, Bill, on the multiyear aspect of this program, it's probably instructive to recall the DMOS6 decision when we made that, we actually completed or broke ground on that building in 1996 and completed in 1997.

是的，比爾，就該計劃的多年期而言，回想一下DMOS6 的決定可能很有啟發性，當時我們做出了這一決定，我們實際上於1996 年完成或破土動工了該建築，並於1997 年竣工。

And we continued today to invest in the equipment and as Bill indicated that would go on for a couple of more years at least before we finish building out that building.

今天我們繼續投資設備，正如比爾指出的那樣，在我們完成大樓的建設之前，這種投資至少還會持續幾年。

So to correlate that lesson with the new fab would suggest that when we do break ground for the new building for the new fab., that would be broken about 18 months or so before we'd have to prepare ourselves to equip it.

因此，將這一教訓與新工廠聯繫起來表明，當我們為新工廠的新建築破土動工時，該建築將在我們必須準備好裝備之前大約 18 個月左右破土動工。

That would suggest it's probably a couple years out before we're in a position to need to worry about equipment.

這表明我們可能需要幾年的時間才能需要擔心設備問題。

And, in fact, when the time does come to start installing equipment into the building, it will be at about the time that we've completed installations inside DMOS6.

事實上，當我們開始在建築物中安裝設備時，大約就是我們在 DMOS6 內完成安裝的時候。

So we'll be off on the tail end of depreciation occurs in DMOS6 as the new equipment begins to come up in the new factory.

因此，隨著新設備開始在新工廠投入使用，我們將在 DMOS6 的折舊尾部結束時進行處理。

Okay,Thank you Kevin, thank you Andrew.

好的，謝謝凱文，謝謝安德魯。

Next caller, please.

請下一位來電者。

Our next question comes from Joe Osha with Merrill Lynch.

我們的下一個問題來自美林證券的喬·奧沙。

Thanks, I as well will try not to be metaphysical.

謝謝，我也會盡量不成為形而上學的。

Two questions.

兩個問題。

First, looking at the inventory build here and the utilization, kind of listening to everything you said, it seems to me like one of two things has to happen, either, A, we have to see some pick up in demand pull here or manufacturing utilization is going to have to come back down.

首先，看看這裡的庫存建設和利用率，聽聽你所說的一切，在我看來，必鬚髮生以下兩件事之一，A，我們必須看到這裡的需求拉動或製造業有所回升利用率將不得不回落。

Am I correct?

我對麼？

Well to the extent Joe, that we continue in an environment where our customers really are in a position to demand short lead time, that the inventory position to meet that lead time as Kevin was describing, you know, will stay in a fairly steady situation and in parts of our markets that are growing, we will add, it will flow through and we may very well maintain die stock and so on at those levels.

好吧，喬，我們繼續處於一個我們的客戶確實能夠要求較短交貨時間的環境中，正如凱文所描述的那樣，滿足該交貨時間的庫存狀況將保持在相當穩定的情況我們會補充說，在我們正在成長的部分市場中，它將流通，我們很可能將模具庫存等維持在這些水平。

We don't see any near-term reason why we'd have to decrease from those levels in today's environment.

在當今的環境下，我們看不出有任何近期理由必須降低這些水準。

I guess I'm just -- you're operating at a rate which causes inventory to build at hundreds of a million a quarter and revenues do not appear at this point to be expanding.

我想我只是——你的營運速度導致庫存每季增加數億，而目前的收入似乎並沒有擴大。

So it seems like something's got to give here or you continue to add inventory at the rate of 100 million a quarter.

因此，似乎必須做出一些讓步，否則您將繼續以每季 1 億個的速度增加庫存。

So, I guess I'm just asking at what point does that no longer prove sustainable in terms of your dollar of cost inventory you're willing to carry?

所以，我想我只是想問，就您願意承擔的成本庫存而言，在什麼時候這不再被證明是可持續的？

Ron?

羅恩？

I would just add,Joe, I think you're right in terms of the inventory growth in our factory rates, but on the other hand if you look at our revenue range, depending upon which point in that range you want to adopt as your own view, you would decide whether the factories are overloaded or underloaded.

我想補充一點，喬，我認為您對我們工廠庫存增長的看法是正確的，但另一方面，如果您查看我們的收入範圍，則取決於您希望採用該範圍中的哪個點作為您的收入根據您自己的觀點，您可以決定工廠是否超載或不足。

I do have a follow-up is that okay?

我確實有後續行動，可以嗎？

Sure.

當然。

Taking that into account then looking at gross margin and backing out this $43 million in sort of what we can think of as one-time charges, how might we think about gross margin in the upcoming quarter, then, in terms of continuing ops and maybe give us some sense as to how many more of these charges will be contemplated in the third quarter?

考慮到這一點，然後看看毛利率，並以我們可以認為是一次性費用的方式收回這 4300 萬美元，我們如何考慮下一季的毛利率，然後，在持續運營方面，也許讓我們了解第三季將考慮增加多少此類費用？

Well, Joe, the TI level, I think we meant to comment that we would expect in total another $45 million of charges in the third quarter, most of which will be in gross margin.

好吧，喬，TI 層面，我想我們的意思是，我們預計第三季的費用總額將達到 4500 萬美元，其中大部分將體現在毛利率上。

Again, roughly the ratio of the second quarter where 43 of the 49 million of charges were in gross margin.

同樣，大致與第二季的比率相同，4,900 萬筆費用中有 43 筆屬於毛利率。

And then we've indicated that will drop down to about a third of that level in the fourth quarter, and the remaining restructuring charges in 2004 will be incurred at the rate of about $10 million per quarter adding in total then, including the second quarter, to about 150 million of charges over that period of time.

然後我們指出，第四季度將下降到該水平的三分之一左右，2004 年剩餘的重組費用將以每季度約 1000 萬美元的速度發生，當時總計包括第二季度，在此期間產生約1.5億筆費用。

And those -- that $45 million of charges in the third quarter are comprehended, are included in the range of earnings that we provided before.

第三季 4500 萬美元的費用已包含在我們先前提供的收益範圍內。

Thanks, Joe, next caller, please.

謝謝，喬，請下一位來電者。

Our next question comes from Mark Edelson with Morgan Stanley.

我們的下一個問題來自摩根士丹利的馬克·艾德爾森。

Thanks a lot and best of luck, Bill in the future.

非常感謝，祝你好運，比爾，未來。

The question just relates to the savings that we can expect going forward from the restructuring efforts of both Q2 and then the additional efforts that you're taking here in Q3 and kind of rolling out through 2004.

這個問題只是與我們預計從第二季的重組工作以及第三季和 2004 年推出的額外工作中預計節省的費用有關。

Can you just kind of walk us through the line items over the next, let's say, two to six quarters and what kind of cost savings you expect from these efforts?

您能否向我們介紹一下接下來（比如說，兩到六個季度）的具體項目以及您期望透過這些努力節省哪些成本？

Yes, Mark.

是的，馬克。

In fact, I might ask Kevin to do that as well.

事實上，我也可能會要求凱文這麼做。

In his current position as controller, he has been right in the middle of that project and instrumental in getting TI to make these difficult decisions but decisions that end up with real savings and real gross margin expansion in the future.

在他目前擔任財務總監的職位上，他一直參與該項目，並幫助 TI 做出這些艱難的決定，但這些決定最終會在未來帶來真正的節省和真正的毛利率擴張。

Yes, Mark, it wouldn't be anticipated that we'd see the first full fiscal year of these savings until fiscal 2005.

是的，馬克，我們預計要到 2005 財年才能看到第一個完整的財政年度的節省。

And at that point in time, we'd anticipate about $100 million in annualized savings from these restructuring actions that we're talking about here.

到那時，我們預計我們在這裡討論的這些重組行動每年可節省約 1 億美元。

Those would be split between the Sensors and Controls group and the Semiconductor business.

這些業務將分為感測器和控制部門和半導體業務部門。

Before then, those savings would be phased in rather slowly as we complete the restructuring throughout next year.

在此之前，隨著我們明年完成重組，這些節省的資金將相當緩慢地分階段實施。

I would add one thing, Mark, that the actual timing of the restructuring charges that we take, the GAAP accounting requirements are that we align those with basically when people accept packages, actually leaving and things like that.

馬克，我想補充一件事，我們收取的重組費用的實際時間、公認會計準則會計要求是，我們基本上與人們接受包裹、實際離開等類似情況的時間保持一致。

So the profile of the restructuring charges probably pretty closely would reflect the profile of the savings with the savings maybe lag by a quarter or something like that.

因此，重組費用的情況可能會非常接近反映節省的情況，而節省的情況可能會滯後四分之一或類似的情況。

Is that a fair assumption, Bill or Kevin?

比爾或凱文，這是一個合理的假設嗎？

That would be correct.

那是正確的。

Okay.

好的。

So fair to say then kevin that we're going to see some scale-in of the expense savings as we move through next year, but full realization as 100 million per year in 2005?

那麼凱文，我們可以公平地說，明年我們將看到費用節省的一些規模，但到 2005 年將完全實現每年 1 億美元？

That would be correct, Mark.

那是正確的，馬克。

And then is that mostly in coming COGs or savings in the op ex as well?

那麼，這主要是未來的 COG 還是營運支出的節省？

Mostly in the COGs.

主要在 COG 中。

Thanks a lot, guys.

非常感謝，夥計們。

Thank you, Mark.

謝謝你，馬克。

Next caller please.

請下一位來電者。

Next question comes from Jack Romaine with SG Cowen.

下一個問題來自 Jack Romaine 和 SG Cowen。

Hi, could you guys pleas talk a little bit about your broadband expectations for the second half of the year?

您好，請問您能談談您對下半年寬頻的期望嗎？

Yes, Jack.

是的，傑克。

We continue to be -- feel very good about broadband in general, and certainly as it relates to the second half of the year, their external projections are that broadband subscribers will grow by 50% this year, year over year on a worldwide basis from roughly 60 million to 90 million.

我們仍然對寬頻整體感覺非常好，當然，因為它與今年下半年有關，他們的外部預測是，今年全球寬頻用戶將同比增長 50%，從大約6000萬到9000萬。

And so we believe that the growth trends for that sector and for TI will continue.

因此，我們相信該行業和 TI 的成長趨勢將持續下去。

We also feel that TI is perhaps uniquely positioned with the capabilities we have in every aspect of broadband, that is DSL , cable modem, wireless LAN and voice over packet, and that will continue to play to TI's strengths both in the systems level and in terms of our ability to integrate and do more system on chip integration as well, as we're doing with the industry's first single-chip DSL modem that we'll be sampling in the third quarter.

我們也認為，憑藉我們在寬頻各個方面（即 DSL、電纜數據機、無線 LAN 和分組語音）所擁有的功能，TI 可能具有獨特的定位，並且這將繼續發揮 TI 在系統級和應用領域的優勢。就我們整合和進行更多系統單晶片整合的能力而言，就像我們正在開發的業界首款單晶片DSL 數據機一樣，我們將在第三季提供樣品。

One other point is that we are today the interim supplier of the base band chip for Centrino (phonetic).

還有一點是，我們今天是迅馳（音譯）基頻晶片的臨時供應商。

If you look at the second quarter, for example, our strong growth in wireless LAN was due to the combination of Centrino base-band shipments and the positive seasonality as well.

例如，如果你看第二季度，我們在無線 LAN 領域的強勁成長是由於迅馳基帶出貨量和積極的季節性因素的結合。

The only cross current that I would mention in broadband, I would say, is that we had 44% sequential growth in the second quarter, and that's likely not a sustainable rate quarter after quarter.

我想說，寬頻領域唯一的逆流是我們第二季度實現了 44% 的環比增長，而這可能不是一個季度又一個可持續的增長速度。

That was some very strong growth in DSL infrastructure build outside the U.S., and this wireless LAN but we would think that this is going to be a growth area for TI really for a long time to come.

這是在美國以外建構的 DSL 基礎設施和無線 LAN 的強勁成長，但我們認為這將成為 TI 在未來很長一段時間內的成長領域。

Do you have a follow-up question, Jack?

傑克，您還有後續問題嗎？

Yeah.

是的。

At the analyst meeting you talked about a $700 million break even level for that business.

在分析師會議上，您談到該業務的損益平衡點為 7 億美元。

Is that something you expect to grow into or an expense structure that you're in the process of changing through some of this restructuring?

這是您期望發展成的東西，還是您正在透過一些重組來改變的費用結構？

Jack, I think Joe may have commented about that, and I would say that our intention is to grow into that, that is, we are not reducing costs in broadband as a result of any of these structuring actions, we are investing significantly in broadband today because of the system level requirements, and because of what we believe will be the favorable outcome of doing that in the future.

傑克，我想喬可能​​對此發表了評論，我想說的是，我們的意圖是發展到這一點，也就是說，我們不會因為任何這些結構性行動而降低寬頻成本，我們正在對寬頻進行大量投資今天是因為系統級要求，並且因為我們相信將來這樣做會帶來有利的結果。

You may have noticed that as we describe broadband, it has grown enough that it now qualifies to be, we would say, 5% of our semirevenues.

您可能已經注意到，正如我們所描述的寬頻一樣，它已經發展到足以達到我們半收入的 5%。

It was down, you know, on a level where it didn't round to that prior to this.

你知道，它的下降水準是在此之前沒有達到的水準。

So it's beginning to get the scale that we are very encouraged about.

所以它開始達到我們非常鼓舞的規模。

Thank you Jack, next caller please.

謝謝傑克，請下一個來電者。

Our next question comes from William Conroy with Sanders Morris.

我們的下一個問題來自威廉·康羅伊和桑德斯·莫里斯。

Good afternoon could I ask you to cut the business a slightly different way Bill and talk a little bit about the peripherals-related business, what you're selling into hard disk drives, printers, et cetera?

下午好，比爾，我可以請您以稍微不同的方式削減業務，並談談與週邊設備相關的業務嗎？您銷售的硬碟、印表機等產品是什麼？

Yes, Bill, I'd be glad to.

是的，比爾，我很樂意。

Storage for us, hard disk drive did have some good growth in the second quarter compared to a year ago.

對我們來說，硬碟在第二季度與去年同期相比確實有一些良好的成長。

We think we've made some important market share gains on the analog products that we provide into storage and that that really has given us an important improved position there compared to a year ago.

我們認為，我們在儲存領域提供的模擬產品已經取得了一些重要的市場份額，與一年前相比，這確實使我們在該領域的地位有了重要的提高。

Pretty flat on a sequential basis though in the second quarter.

儘管第二季環比持平。

Printers as well has been pretty flat for us through here.

印表機對我們來說也相當平坦。

That whole area of custom mixed signal which is primarily printer for us, we've had a really a couple of flat quarters now.

整個客製化混合訊號區域主要是我們的印表機，我們現在已經有幾個平坦的區域了。

So and we have you know expectations that generally the PC peripheral markets will have some growth, but pretty low growth really.

因此，我們預計 PC 週邊市場整體上會有一些成長，但實際上成長相當低。

I don't think we have any aggressive expectations about those PC peripherals as they're built into our expectations.

我認為我們對這些 PC 週邊沒有任何過高的期望，因為它們已經融入了我們的期望之中。

The area where we would continue to be much more aggressive and enthusiastic about in effect is the business projectors where our DLP chips are continuing to have -- to be very well received, and in that regard, we think that business projectors which we think also qualify as a PC peripheral for us will continue to show good growth in the second quarter our DLP business unit grew year-over-year at greater than 50% , declined slightly sequentially in the second quarter, but that was after a first quarter sequential increase of 25%.

實際上，我們將繼續更加積極和熱情地關注的領域是我們的 DLP 晶片繼續擁有的商用投影機 - 非常受歡迎，在這方面，我們認為我們認為商用投影機也作為PC 週邊，我們將在第二季度持續表現出良好的成長，我們的DLP 業務部門年增超過50%，第二季較去年同期略有下降，但那是在第一季環比成長後25%。

That's a combination in DLP of our still predominantly the business projectors, but now increasingly the consumer large-screen television as well.

這是我們仍然主要使用商用投影機的 DLP 組合，但現在也越來越多地使用消費性大螢幕電視。

Do you have a follow-up question, Bill?

比爾，你還有後續問題嗎？

I was hoping you could chat a little bit about the pricing environment, I think we all know what your structure in the wireless hand set business with the contracts and big customers et cetera but maybe if you could just make some general comments Bill about a how that seems to be playing out at this point?

我希望你能談談定價環境，我想我們都知道你在無線手機業務中的結構，包括合約和大客戶等等，但也許你可以就如何進行一些一般性評論這似乎正在上演？

Yes, Bill.

是的，比爾。

Certainly in wireless pricing on a device-by-device level declines over time but those declines are really pretty predictable.

當然，隨著時間的推移，不同設備的無線定價會下降，但這些下降確實是可以預測的。

And are generally aligned with our ability to cost-reduce product or to further integrate product as well.

通常也與我們降低產品成本或進一步整合產品的能力一致。

And so I tell you, there's no real surprises there.

所以我告訴你，那裡沒有真正的驚喜。

Pricing in chip sets, you know, in the very weak market conditions in the second quarter was, you know, more aggressive, but that will probably ebb and flow some with at the time there's excess inventory and weak market conditions.

你知道，在第二季非常疲軟的市場條件下，晶片組的定價更加激進，但由於當時庫存過剩和市場條件疲軟，定價可能會有所波動。

Pricing and -- in our commodity product areas has continued to be aggressive, although in the second quarter, I would characterize that, if you look at our commodity logic and commodity linear, that the price declines were really decelerating, the prices were not decreasing as fast as they had in prior quarters in most commodity areas and pricing in broadband continues to be very aggressive.

定價——在我們的商品產品領域繼續激進，儘管在第二季度，我的特點是，如果你看看我們的商品邏輯和商品線性，價格下降確實在減速，價格並沒有下降大多數商品領域的成長速度與前幾季一樣快，寬頻定價仍然非常積極。

But you know, that's a market where TI is a supplier that can really take advantage of system-on-chip integration will again we think of benefit and come out ahead over time.

但您知道，在這個市場上，TI 是一家能夠真正利用系統單晶片整合優勢的供應商，隨著時間的推移，我們將再次考慮到好處並取得領先。

Thank you, Bill, next caller, please.

謝謝您，比爾，請下一位來電者。

Our next question comes from Hans Mosesmann with SoundView Technologies.

我們的下一個問題來自 SoundView Technologies 的 Hans Mosesmann。

Thanks, a couple of questions.

謝謝，有幾個問題。

Bill, can you comment on the environment in general?

比爾，你能評價一下整體環境嗎？

After all these years of doing this, what does it look like?

經過這麼多年的努力，結果如何？

Are we bouncing about, around the bottom here, just what's your impression of the industry?

我們是否在底部附近跳來跳去，您對這個行業的印像是什麼？

Thanks.

謝謝。

Hans, I'm not sure that my 36 years of experience are particularly relevant for anything like that, but you know, we're clearly up from the bottom, but we are in a, you know, kind of a slow continuing improvement, I would say here generally.

漢斯，我不確定我 36 年的經驗是否與此類事情特別相關，但你知道，我們顯然是從底層開始的，但你知道，我們正處於一種緩慢的持續改進之中，我在這裡一般說一下。

After a bounceback from the trough of 2001 in some pretty weak worldwide market conditions.

在全球市場狀況相當疲軟的情況下，從 2001 年的低谷中反彈之後。

So in fact, that's not all that unusual, I would say, compared to previous semiconductor cycles where there's a bounceback from the trough, then there may be a period of pretty slow growth, then again a one or more applications take off largely unanticipated until they really start to run, and there's a surge of growth again.

所以事實上，我想說，與之前的半導體週期相比，這並不是那麼不尋常，在之前的半導體週期中，從低谷反彈，然後可能會經歷一段相當緩慢的增長時期，然後一個或多個應用程式再次在很大程度上出乎意料地起飛，直到他們真的開始運轉，並且再次出現激增的增長。

I would say there's no reason to expect anything different this next time; that with all of the opportunities that we see in communications kind of applications, one of those is going to, I think, very likely take off and run again.

我想說，沒有理由期待下次會有什麼不同。考慮到我們在通訊類應用程式中看到的所有機會，我認為其中一個很可能會再次起飛並運行。

As well.

也是如此。

Did you have a quick follow-up Hans?

你有快速跟進漢斯嗎？

Yes, you said similar utilization rates for Q3 depending on revenues.

是的，您說過第三季的利用率類似，取決於收入。

Is that pretty much a good estimate for your foundry or outsourcing of wafers for Q3?

這對你們第三季的代工廠或晶圓外包來說是一個不錯的估計嗎？

Generally over the next quarter or so Hans we would expect our usage of foundry for advanced logic to continue to increase just because we're still going up the curve that we outlined to you before of when we hit what we think will be the peak of 130-nanometer demand, for example, we would expect to be 40 to 50% using foundries for 40 or 50% of that in the second quarter, that number was 30%.

一般來說，在下個季度左右，漢斯，我們預計我們對先進邏輯的代工廠的使用將繼續增加，因為我們仍在沿著我們之前向您概述的曲線上升，當我們達到我們認為的峰值時以130 奈米需求為例，我們預計第二季40 至50% 的需求將由代工廠生產，其中40 或50% 為30%。

So we're still on the upslope, we think, of that.

因此，我們認為，我們仍處於上升階段。

So our usage of foundry for 130-nanometer will increase probably for a couple more quarters, and then begin to decline as we move towards -- into 90-nanometer production.

因此，我們對 130 奈米晶圓代工的使用可能會在接下來的幾個季度中增加，然後隨著我們轉向 90 奈米生產而開始下降。

Thank you, Hans.

謝謝你，漢斯。

Thanks Hans.

謝謝漢斯。

Next caller, please.

請下一位來電者。

Our next question comes from Clark Westmont with Smith Barney.

我們的下一個問題來自美邦的克拉克·韋斯特蒙特。

Hi Bill and guys again I think you've got all our respect.

嗨，比爾和夥計們，我想你們已經得到了我們所有的尊重。

As far as my question goes, it's for specifically about the gross profit margins for semis, that was 38.6% of sales in the June quarter.

就我的問題而言，具體是關於半成品的毛利率，即 6 月季度銷售額的 38.6%。

Do you expect--can you just go into the sensitivity about what's embedded in your guidance for Q3 and then and I have follow-up.

您是否期望 - 您能否談談第三季度指導中所包含內容的敏感性，然後我會採取後續行動。

Yes, Clark.

是的，克拉克。

I would say that you know, a couple of factors that we identified in the second quarter, the newer products ramping to production still a very immature yields, generally our expectation is that that's going to improve sequentially it was a particular quarter where we had products in a couple of areas that were in that situation, and the result was, you know, that we didn't get the follow-through in gross margin that we would normally expect.

我想說的是，我們在第二季度確定的幾個因素，新產品的投產仍然非常不成熟，一般來說，我們的預期是，這將連續改善，這是我們擁有產品的特定季度在處於這種情況的幾個領域，結果是，你知道，我們的毛利率沒有達到我們通常預期的水平。

And while those things will happen, you know, from time to time, I wouldn't expect that they'd be continuing.

雖然這些事情會時不時地發生，但我不認為它們會繼續下去。

And the strong revenue growth that we commented on, commodity products with cyclical pricing pressure, we've commented on the fact that we think that pricing pressure while it's still there is alleviating somewhat, and you know, that kind of growth in those commodity areas isn't particularly sustainable either.

我們評論了強勁的收入成長，即具有週期性定價壓力的商品產品，我們評論了這樣一個事實，即我們認為定價壓力仍然存在，但在某種程度上有所緩解，你知道，這些商品領域的這種成長也不是特別可持續。

And so the mix will shift to what should be a more normal mix over time as well, I would say.

因此，我想說，隨著時間的推移，這種混合也將轉變為更正常的混合。

So the implication is Q3 gross profit margins in semis should be up sequentially?

那麼這意味著第三季半成品的毛利率應該會連續上升嗎？

Well, I was -- I think it's appropriate to paint the environment as I did for you, Clark, and then ask you to draw your conclusions from there.

好吧，我認為，像我為你所做的那樣，畫出環境是合適的，克拉克，然後讓你從中得出結論。

Okay, fair enough.

好吧，很公平。

One thing I would add Clark is the restructuring charge, we had about 43 million in gross profit in the second quarter, which was equivalent to about 1.8 percentage points of margin.

克拉克我要補充的一件事是重組費用，我們第二季的毛利約為 4,300 萬美元，相當於約 1.8 個百分點的利潤率。

That will go down slightly again from 49 million total to 43 million, whatever that would scale on the gross profit line.

無論毛利線的規模如何，這一數字將從 4,900 萬總數再次小幅下降至 4,300 萬。

That would probably tend to help a little bit.

這可能會有所幫助。

Right and just technically the way we count that, that will impact TI's margin, FC margin excluding those, the charges that Ron noted.

正確，從技術上講，我們計算的方式將影響 TI 的利潤率，FC 利潤率（不包括那些費用），Ron 指出的費用。

That's correct.

這是正確的。

Okay.

好的。

And as a follow-up, the DLP business, do you expect that to be in the black at any point in the second half or just an update on that?

作為後續業務，DLP 業務您預計下半年會實現盈利還是只是更新？

Our DLP business has been profitable all of this year, Clark.

克拉克，我們的 DLP 業務今年一整年都獲利。

And we would expect that to continue.

我們預計這種情況會持續下去。

Oh, okay.

哦好的。

Thanks.

謝謝。

All right.

好的。

Clark, thank you.

克拉克，謝謝你。

Next caller, please.

請下一位來電者。

Our next question is from Tom Thornhill with UBS Warburg.

我們的下一個問題來自 UBS Warburg 的 Tom Thornhill。

Bill, if you could comment on the outlook in the wireless mix, I think it might be appropriate to try to normalize a little bit of what happened in Q2.

比爾，如果您可以對無線組合的前景發表評論，我認為嘗試使第二季度發生的事情正常化可能是合適的。

I think you said 2 1/2 G was about 60%.

我想你說 2 1/2 G 大約是 60%。

What would be the outlook into Q3 and the second half for that mix trend?

第三季和下半年這種混合趨勢的前景如何？

Tom, we're not going to try to forecast quarter by quarter the mix that 2.5G, but I think it's safe to say we expect it to continue to increase.

Tom，我們不會嘗試逐季度預測 2.5G 的混合情況，但我認為可以肯定地說，我們預計它會繼續增加。

I think it's increased Monotonically for probably 6 quarters now since it really--since this trend began, and I think the run way is clearly still there.

我認為自從這種趨勢開始以來，它已經單調增長了大約 6 個季度，我認為這種趨勢顯然仍然存在。

In fact, now in effect it's moving the 3G as well.

事實上，現在它實際上也在推動 3G 的發展。

We're shipping Japan 3G product for the phones in Japan today.

我們今天在日本運送適用於這些手機的日本 3G 產品。

So that's really part of 2.5G and beyond.

所以這確實是 2.5G 及更高版本的一部分。

So we would expect that mix to continue.

因此，我們預計這種混合會持續下去。

The only thing that will offset it some, Tom, just as a cross current, is that we noted that our chip-set revenue, which is more 2G than 2.5G, was down 25% sequentially in the second quarter.

湯姆，唯一能抵消這一影響的事情是，我們注意到我們的晶片組收入（2G 多於 2.5G）在第二季度環比下降了 25%。

I think there's every indication that that will recover over time.

我認為一切跡像都表明這種情況會隨著時間的推移而恢復。

And so 2G was particularly depressed in the mix for us in the second quarter.

因此，2G 在第二季的表現尤其低迷。

We would think, based on what we saw in the last few days of the quarter, that that would also correct itself somewhat moving into the third quarter.

我們認為，根據我們在本季最後幾天看到的情況，這種情況也會在進入第三季時有所糾正。

Do you have a quick follow-up, Tom?

湯姆，你有快速跟進嗎？

High performance analog, percent of the analog business?

高效能模擬，佔模擬業務的百分比？

Continues to be about 30% of the analog business.

仍佔模擬業務的 30% 左右。

Had good sequential growth, sequentially grew almost 10% in the second quarter with particular strength in consumer audio video products and power management products, Tom.

Tom. 擁有良好的環比成長，第二季較上季成長近 10%，特別是消費性音訊視訊產品和電源管理產品。

So continue to be very pleased about our traction there.

因此，請繼續對我們在那裡的牽引力感到非常高興。

Thanks, Tom, next caller please.

謝謝，湯姆，請下一個來電者。

Our next question comes from Sumit Dhanda with Bank of America.

我們的下一個問題來自美國銀行的 Sumit Dhanda。

Hi a couple of quick questions first off the expense talked about at the end of the Q2, could you perhaps quantify how much of that has persisted into the first three weeks of July here?

您好，首先就第二季末談到的費用提出幾個簡單的問題，您能否量化一下其中有多少費用一直持續到 7 月的前三週？

And then I'll have a quick follow-up.

然後我會進行快速跟進。

I'm sorry, I missed the first part.

抱歉，我錯過了第一部分。

The question was the strength we saw in wireless late the same quarter carried forward in the third quarter?

問題是我們在同季末看到的無線業務的強勁勢頭延續到了第三季？

Yes, really we cannot say that that's a continuing trend, it was specifically at the end of the quarter, although we, you know, we generally, you know, like the strength that we see in Asia at this point, it's still in an environment where we believe there's some excess inventories out there.

是的，確實我們不能說這是一個持續的趨勢，特別是在本季度末，儘管我們，你知道，我們總體上，你知道，就像我們此時在亞洲看到的力量一樣，它仍然處於我們認為存在一些過剩庫存的環境。

So we're cautious about the degree that that strength can continue, I would say.

因此，我想說，我們對這種力量能夠持續的程度持謹慎態度。

But we do continue to believe in the revenue range guidance we provided you.

但我們仍然相信我們為您提供的收入範圍指導。

Yes, comprehended in that, right.

是的，就是這麼理解的，沒錯。

Did you have another question?

您還有其他問題嗎？

Yes, a quick one.

是的，快一點。

You gave the breakout in terms of 2.5 G as a percentage of wireless about 60%.

您給出的突破是 2.5 G 無線網路所佔比例約為 60%。

Could you perhaps give that break out on a hand set unit basis, the closest you can get?

您能否以手機為單位給出這項突破，您能得到的最接近的結果？

Well, much less than that, I guess ballpark, I'm not even sure quite how to do that.

好吧，我想大概比這要少得多，我甚至不知道該怎麼做。

Again, the base band is, you know, more than two times the ASP of the base band for 2G, analog is really largely unchanged in a chip set, for example, between 2G and 2.5G so clearly less.

再次強調，基帶的 ASP 是 2G 基帶 ASP 的兩倍以上，晶片組中的模擬實際上基本上沒有變化，例如，在 2G 和 2.5G 之間，顯然要少一些。

But anything, I don't think it's very meaningful other than that.

但除此之外，我認為沒有太大的意義。

Thank you, Sumit.

謝謝你，蘇米特。

Next caller, please.

請下一位來電者。

Next question is from Manish Goyal with [INAUDIBLE]

下一個問題來自 Manish Goyal，[聽不清楚]

My question has been answered.

我的問題已經得到解答。

Thank you.

謝謝。

Thank you Manish, we'll move on to our next question Ben Lynch with Deutsche Banc.

謝謝曼尼什，我們將繼續回答德意志銀行本·林奇的下一個問題。

We will have to make this the last caller, because of time constraints here.

由於這裡的時間限制，我們必須將其作為最後一個呼叫者。

Thank you very much, Ron.

非常感謝你，羅恩。

Okay.

好的。

Moving back to a prior question, the Nokia profit warning last week and how it might have relevance for Texas and, basically I guess it's quite late in the day, they've had a negative view on the ASP's and their margins for Q3.

回到先前的問題，諾基亞上週的獲利預警以及它與德州的相關性，基本上我猜現在已經很晚了，他們對第三季的平均售價和利潤率持負面看法。

Given that this is quite late in the day and much worse than Nokia had been expecting, should we expect they, Nokia, manage the business very tightly, I think we should expect they will search for ways elsewhere to compensate for this ASP pressure and margin pressure.

鑑於現在已經很晚了，而且比諾基亞預期的要糟糕得多，我們是否應該期望他們，諾基亞，非常嚴格地管理業務，我認為我們應該期望他們會在其他地方尋找方法來補償這種平均售價壓力和利潤率壓力。

Have you guys, could you say whether you guys have had any discussions with Nokia relative to this and how they're trying to manage the action more tightly?

你們能否說說你們是否與諾基亞就此進行過任何討論以及他們如何更嚴格地管理這一行動？

And I have a follow-up question.

我還有一個後續問題。

Well Ben, I would say based on my at least indirect experience, I'm not in on the conversations, that we have conversations with Nokia, and other, you know, large custom OEMs of ours on an ongoing basis about the competitive pressures that they face and how they can use TI solutions to cost-reduce those, whether it's integration, different kinds of features, different use of the programable platform, that goes on all the time.

好吧，本，我想說，根據我至少是間接的經驗，我沒有參加對話，我們與諾基亞以及我們的其他大型定制原始設備製造商就競爭壓力進行了持續的對話，他們面臨的問題以及如何使用TI 解決方案來降低成本，無論是整合、不同類型的功能還是可編程平台的不同用途，這些都一直在發生。

Now, I can't say that some particular event today is in or out of, you know, of that, but we are, I would say, intensely engaged with them on how we as a partner allow them to be more competitive in their marketplaces, at the same time, that we get value for TI for the components that we ship them.

現在，我不能說今天的某些特定事件是在其中或不在其中，但我想說，我們正在與他們密切接觸，討論我們作為合作夥伴如何讓他們在自己的領域更具競爭力。同時，我們透過向TI 提供的組件獲得價值。

Great, and a follow-up question, could you give a little bit of background to how you're managing to get this lower effective tax rate, please?

很好，還有一個後續問題，您能否介紹一下您如何設法獲得較低的有效稅率的背景知識？

Yeah.

是的。

The single largest part of that, Ben, is that because of the restructuring charges this year, we will have lower profits on a full GAAP basis and, therefore, for U.S. tax purposes as well, that we otherwise would have had at a 35% tax rate in effect.

Ben，其中最重要的部分是，由於今年的重組費用，我們在完整 GAAP 基礎上的利潤將會降低，因此，出於美國稅收目的，我們本來會獲得 35% 的利潤現行稅率。

That's balanced against the fact that our reduction in taxes comes largely from R&D tax credits in the U.S. which are largely unchanged by this kind of event.

這與我們的減稅主要來自美國的研發稅收抵免這一事實相平衡，而此類事件基本上沒有改變這種稅收抵免。

So based on our view of profit overall and for the year, because of the additional restructuring expense, the tax rate comes down for us.

因此，根據我們對整體利潤和全年利潤的看法，由於額外的重組費用，我們的稅率有所下降。

So we should expect in '04 it goes up again a bit and in '05 refers back to the previous tax rate?

那麼我們應該預期 04 年它會再上升一點，而 05 年又會回到之前的稅率？

Well, as profit goes up, as operating profit goes up for TI, the tax rate will tend to go up, that's correct.

嗯，隨著利潤的上升，隨著 TI 營業利潤的上升，稅率也會上升，這是正確的。

I won't comment on your hypothesis of how '04 and '05 are in revenues but as revenues and operating profit go up, the tax rate will go up for TI.

我不會評論您關於 04 年和 05 年收入狀況的假設，但隨著收入和營業利潤的上升，TI 的稅率也會上升。

It's just you'll have less benefit from the restructuring charges, I guess.

我想，只是你從重組費用中獲得的好處會減少。

Well, right.

嗯，對。

That's fair.

這還算公平。

Right.

正確的。

Great.

偉大的。

Okay, thank you, Ben.

好的，謝謝你，本。

Thank you, Ben.

謝謝你，本。

And with that we will wrap up before we end the call, let me remind you the replay is available on our website.

在結束通話之前我們就結束了，請允許我提醒您，我們的網站上提供了重播。

Thank you and good evening.

謝謝你，晚上好。

Ladies and gentlemen, we thank you for your participation in today's Texas Instruments second quarter earnings conference call.

女士們、先生們，我們感謝您參加今天的德州儀器 (TI) 第二季度收益電話會議。

You may disconnect your lines at this time and have a pleasant evening.

此時您可以斷開線路並度過一個愉快的夜晚。