TI reports 2Q15 financial results and shareholder returns

 

 

2Q15 segment results



 2Q15


2Q14  


Change

Analog:







Revenue


$ 2,049


$ 1,995


3%

Operating profit


$    728


$    664


10%

Embedded Processing:







Revenue


$    690


$    703


-2%

Operating profit


$    135


$    104


30%

Other:







Revenue


$    493


$    594


-17%

Operating profit*


$    147


$    214


-31%


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

Embedded Processing:  (includes Processor, Microcontrollers and Connectivity)

  • Revenue decreased due to Processor. Connectivity and Microcontrollers grew.
  • Operating profit increased due to lower operating expenses.

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

  • Revenue declined due to custom ASIC products. DLP products also declined, while calculators grew.
  • Operating profit decreased due to lower revenue and associated 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





June 30,





2015


2014


Change

Cash flow from operations (GAAP)


$

4,084


$

3,587


14%

Capital expenditures



(476)



(388)



Free cash flow (non-GAAP)


$

3,608


$

3,199


13%










Revenue


$

13,152


$

12,547












Cash flow from operations as a percent of revenue (GAAP)



31%



29%



Free cash flow as a percent of revenue (non-GAAP)



27%



25%




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