TXN FY 2008 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

FY 2008 Earnings

Reported February 24, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$12.5B	—	$13.8B	—	-9.6%
Op. Income	$2.7B	—	$3.5B	—	-21.8%
Gross Margin	50.0%	—	53.0%	—	-3.0pp
Net Margin	15.4%	—	19.2%	—	-3.8pp
EPS (Diluted)	$1.45	—	$1.84	—	-21.2%
Free Cash Flow	$2.6B	—	$3.7B	—	-31.0%

Revenue Flow

Item	Amount
REVENUE	$12.5B
Cost of Revenue	$6.3B
GROSS PROFIT	$6.2B
R&D Expenses	$1.9B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.6B
Other Expenses	$0
Operating Expenses	$3.6B
Cost & Expenses	$9.8B
OPERATING INCOME	$2.7B
Interest Income	$76M
Interest Expense	$0
Other Income/Expenses	$44M
INCOME BEFORE TAX	$2.5B
Income Tax Expense	$561M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$1.1B
EBIT	$2.7B
EBITDA	$3.8B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$12.5B
Cost of Revenue	$6.3B
GROSS PROFIT	$6.2B
R&D Expenses	$1.9B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.6B
Other Expenses	$0
Operating Expenses	$3.6B
Cost & Expenses	$9.8B
OPERATING INCOME	$2.7B
Interest Income	$76M
Interest Expense	$0
Other Income/Expenses	$44M
INCOME BEFORE TAX	$2.5B
Income Tax Expense	$561M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$1.1B
EBIT	$2.7B
EBITDA	$3.8B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.9B
Depreciation & Amortization	$1.1B
Stock-Based Compensation	$213M
Deferred Income Tax	-$182M
Other Non-Cash Items	-$35M
Change in Working Capital	$355M
OPERATING CASH FLOW	$3.3B
Capital Expenditure	-$763M
Acquisitions (Net)	-$19M
Purchases of Investments	-$1.8B
Sales/Maturities of Investments	$1.4B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$0
Common Stock Repurchased	-$2.1B
Common Dividends Paid	-$537M
Other Financing Activities	$19M
NET CASH FROM FINANCING	-$2.4B
FREE CASH FLOW	$2.6B
Net Change in Cash	-$282M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$1.5B
Net Receivables	$913M
Inventory	$1.4B
Other Current Assets	$695M
TOTAL CURRENT ASSETS	$5.8B
PP&E (Net)	$3.3B
Goodwill	$840M
Intangible Assets	$273M
Long-Term Investments	$653M
Tax Assets	$990M
Other Non-Current Assets	$73M
TOTAL NON-CURRENT ASSETS	$6.1B
TOTAL ASSETS	$11.9B
Account Payables	$324M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$0
Deferred Revenue NC	$366M
Deferred Tax Liabilities	$59M
Other Non-Current Liabilities	$640M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$2.6B
Common Stock	$1.7B
Additional Paid-In Capital	$1.0B
Retained Earnings	$21.2B
Treasury Stock	-$13.8B
Accum. Other Comp. Income	-$790M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.3B
Minority Interest	$0
TOTAL EQUITY	$9.3B
TOTAL LIABILITIES & EQUITY	$11.9B
Total Debt	$0
Net Debt	-$1.0B