TI reports 1Q15 financial results and shareholder returns

 

1Q15 segment results



    1Q15  

    1Q14   

Change

Analog:





Revenue


$  2,035

$  1,837

11%

Operating profit


$     721

$     498

45%

Embedded Processing:





Revenue


$     672

$     656

2%

Operating profit


$     123

$       52

137%

Other:





Revenue


$     443

$     490

-10%

Operating profit*


$     114

$     140

-19%


* Includes Acquisition charges and Restructuring charges/other.

 

Compared with the year-ago quarter:

Analog:  (includes High Volume Analog & Logic, Power Management, High Performance Analog and Silicon Valley Analog) 

  • Revenue increased primarily due to Power Management and High Volume Analog & Logic.  Silicon Valley Analog and High Performance Analog also grew.
  • Operating profit increased primarily due to higher revenue and associated gross profit.

Embedded Processing:  (includes Processor, Microcontrollers and Connectivity)

  • Revenue increased due to Microcontrollers and Connectivity. This was partially offset by lower Processor revenue. 
  • Operating profit increased primarily due to lower operating expenses.

Other:  (includes DLP® products, custom ASIC products, calculators and royalties)

  • Revenue declined primarily due to custom ASIC and DLP products.
  • Operating profit decreased primarily due to lower gross profit.

Non-GAAP financial information 

Free cash flow and associated ratios
This release includes references to free cash flow and ratios based on that measure. These are financial measures that were not prepared in accordance with GAAP. Free cash flow was calculated by subtracting Capital expenditures from the most directly comparable GAAP measure, Cash flows from operating activities (also referred to as cash flow from operations).

The company believes that free cash flow and the associated ratios provide insight into its liquidity, its cash-generating capability and the amount of cash potentially available to return to investors, as well as insight into its financial performance. These non-GAAP measures are supplemental to the comparable GAAP measures.

Reconciliation to the most directly comparable GAAP-based measures is provided in the table below.




For 12 Months Ended





March 31,





2015


2014


Change

Cash flow from operations (GAAP)


$    4,039


$    3,486


16%

Capital expenditures


(431)


(405)



Free cash flow (non-GAAP)


$    3,608


$    3,081


17%








Revenue


$  13,212


$  12,302










Cash flow from operations as a percent of







revenue (GAAP)


31%


28%



Free cash flow as a percent of revenue







(non-GAAP)


27%


25%




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