TI reports 1Q16 financial results and shareholder returns

 

1Q16 segment results

Amounts are in millions of dollars.



1Q16


1Q15


Change

Analog:







Revenue


$   1,879


$   2,035


-8%

Operating profit


$      679


$      721


-6%

Embedded Processing:







Revenue


$      729


$      672


8%

Operating profit


$      182


$      123


48%

Other:







Revenue


$      400


$      443


-10%

Operating profit*


$      107


$      114


-6%


* 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 decreased primarily due to High Volume Analog & Logic. Power Management and High Performance Analog also declined, while Silicon Valley Analog grew.
  • Operating profit decreased primarily due to lower revenue, which was partially offset by lower manufacturing costs and a higher percentage of more profitable products. 

Embedded Processing: (includes Microcontrollers, Processors and Connectivity)

  • Revenue increased in all three product lines, led by Processors.
  • Operating profit increased primarily due to higher revenue and associated gross profit, as well as lower operating expenses.

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

  • Revenue declined primarily due to custom ASIC products.
  • Operating profit decreased by $7 million.

Non-GAAP financial information 

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.

Amounts are in millions of dollars.    












For 12 Months Ended





March 31,





2016


2015


Change

Cash flow from operations (GAAP)


$

4,206


$

4,039


4%

Capital expenditures



(552)



(431)



Free cash flow (non-GAAP)


$

3,654


$

3,608


1%










Revenue


$

12,858


$

13,212












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



32.7%



30.6%



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



28.4%



27.3%




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