Texas Instruments reported revenue of $3.42 billion for the second quarter of 2007. Revenue increased 7 percent compared with the prior quarter as demand for the company's semiconductor products began to rebound following an inventory correction in the semiconductor market. Growth also benefited from a seasonal increase in demand for the company's graphing calculator products. Revenue decreased 7 percent compared with the year-ago quarter due to lower demand across a broad base of products. Net income was $610 million. This was an increase of 18.2% from the prior quarter.