Flash: Texas Instruments misses by $0.03, reports revs in-line; guides Q2 revs in-lin

They suck.

Reports Q1 (Mar) earnings of $0.55 per share, $0.03 worse than the Thomson Reuters consensus of $0.58; revenues rose 5.8% year/year to $3.39 bln vs the $3.4 bln consensus. TXN reports Q1 Gross Margin of 50.9 % vs 52.8% Street Expectations. Co issues guidance for Q2, sees EPS of $0.52-0.60, which includes a $0.05 negative impact from the impact of the Japanese earthquake and aftermath, may not be comparable to $0.63 Thomson Reuters consensus; sees Q2 revs of $3.41-3.69 bln vs. $3.53 bln Thomson Reuters consensus.