TI reports 3Q15 financial results and shareholder returns

Conference call on TI website at 4:30 p.m. Central time today

(PRNewswire) —  Texas Instruments Incorporated (TI) (NASDAQ: TXN) today reported third-quarter revenue of $3.43 billion, net income of $798 million and earnings per share of 76 cents.

Regarding the company's performance and returns to shareholders, Rich Templeton, TI's chairman, president and CEO, made the following comments:

  • "Revenue declined 2 percent from a year ago. While our overall demand remained weak, revenue was stronger than we expected.
  • "Our core businesses of Analog and Embedded Processing each grew year over year. Together, they comprised 85 percent of third-quarter revenue and have delivered nine consecutive quarters of year-over-year growth.
  • "Gross margin was 58.2 percent of revenue, reflecting the quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimeter analog production.
  • "Our cash flow from operations once again underscored the strength of our business model. Free cash flow for the trailing 12 months was up 4 percent from a year ago to $3.6 billion. This represents 28 percent of revenue, up from 27 percent a year ago, and is consistent with our targeted range of 20-30 percent of revenue.
  • "We have returned $4.2 billion to shareholders in the past 12 months through stock repurchases and dividends. In September, we announced a quarterly dividend increase of 4 cents per share, a 12 percent increase. This marked 12 consecutive years of dividend increases. We also announced a $7.5 billion increase to our share buyback authorization.
  • "Our strategy to return to shareholders 100 percent of free cash flow plus proceeds from exercises of equity compensation minus net debt retirement reflects our confidence in the long-term sustainability of our business model.
  • "Our balance sheet remains strong with $2.7 billion of cash and short-term investments at the end of the quarter, 82 percent of which was owned by the company's U.S. entities. Inventory ended the quarter at 111 days.
  • "TI's fourth-quarter outlook is for revenue in the range of $3.07 billion to $3.33 billion, and earnings per share between 64 and 74 cents. For 2015, TI's annual effective tax rate is expected to be about 30 percent, unchanged from previous guidance."

Free cash flow is a non-GAAP financial measure. Free cash flow is cash flow from operations less capital expenditures.

Earnings summary

Amounts are in millions of dollars, except per-share amounts. 



3Q15


3Q14

Change

Revenue


$   3,429


$   3,501

-2%

Operating profit


$   1,164


$   1,175

-1%

Net income


$      798


$      826

-3%

Earnings per share


$     0.76


$     0.76

0%

 

Cash generation

Amounts are in millions of dollars.





Trailing 12 Months





3Q15


3Q15


3Q14


Change

Cash flow from operations


$   1,409


$   4,110


$   3,819


8%

Capital expenditures


$      139


$      512


$      367


40%

Free cash flow


$   1,270


$   3,598


$   3,452


4%

Free cash flow % of revenue




28%


27%




1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
H-1B Visa: de Geus’ tragedy looms large
Peggy AycinenaIP Showcase
by Peggy Aycinena
IP for Cars: Lawsuits are like Sandstorms
More Editorial  
Jobs
Mechanical Designer/Engineer for Palo Alto Networks at Santa Clara, CA
ASIC/FPGA Design Engineer for Palo Alto Networks at Santa Clara, CA
Technical Support Engineer for EDA Careers at Freemont, CA
Technical Support Engineer EU/Germany/UK for EDA Careers at N/A, United Kingdom
Lead Java Platform Engineer IOT-WEB for EDA Careers at San Francisco Area, CA
CAD/CAM Regional Account Manager (Pacific Northwest) for Vero Software Inc. at Seattle, WA
Upcoming Events
Embedded Systems Conference ESC Boston 2017 at Boston Convention & Exhibition Center Boston MA - May 3 - 4, 2017
2017 GPU Tech Conference at San Jose McEnery Convention Center 150 West San Carlos Street San Jose CA - May 8 - 11, 2017
High Speed Digital Design and PCB Layout at 13727 460 Ct SE North Bend WA - May 9 - 11, 2017
Nanotech 2017 Conference & Expo at Gaylord National Hotel & Convention Center WA - May 14 - 17, 2017
DAC2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy