TI reports financial results for 2Q12

Acquisition charges associated with TI's acquisition of National Semiconductor (now referred to as Silicon Valley Analog in TI's Analog segment) are $104 million in the second quarter and include amortization of intangibles, retention bonuses and other items.  Results also include $13 million of restructuring charges associated with the planned closings of two older factories announced in January 2012.  

Compared with a year ago, lower gross profit in the quarter primarily reflects lower revenue and the associated costs from low levels of factory utilization.  Compared with the first quarter, higher gross profit reflects higher revenue, which more than offset lower insurance proceeds related to the March 2011 earthquake in Japan.

Operating profit declined from a year ago due about equally to higher acquisition and restructuring charges, lower gross profit and higher operating expenses.  The increase in operating expenses was due to the inclusion of Silicon Valley Analog.  Compared with the prior quarter, operating profit increased primarily due to higher gross profit.  Also contributing to this increase were lower acquisition charges as well as lower operating expenses.     

2Q12 segment results


   2Q12


2Q11

Change


1Q12

Change

Analog:








       Revenue

$ 1,800


$ 1,588

13%


$ 1,686

7%

       Operating profit

$    437


$    446

-2%


$    335

30%

Embedded Processing:








      Revenue

$    509


$    596

-15%


$    473

8%

      Operating profit

$      51


$    141

-64%


$      36

42%

Wireless:








      Revenue

$    342


$    558

-39%


$    373

-8%

      Operating profit

$     (51)


$      82

n/a


$     (25)

-104%

Other:








      Revenue

$    684


$    716

-4%


$    589

16%

      Operating profit*

$    161


$    236

-32%


$      51

216%


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