德州仪器公布 2014 年第一季度财务业绩及股东回报

2020-07-09 229人围观

德州仪器公布 2014 年第一季度财务业绩及股东回报

德州仪器(TI)公布其第一季营收为 29.8 亿美元,净收入 4.87 亿美元,每股收益 44美分。业绩报告中包括 3,700 万美元的收益,该收益并未包含在公司此前的前瞻报告中;由于出售了一处网点以及与此前宣布的重组措施相关的其它资产,每股盈利增长2美分。

关于公司业绩及股东回报,TI 公司董事长、总裁兼首席执行官 Rich Templeton 发表了如下意见:

不计传统无线业务的营收和自由现金流计算为非一般公认会计原则(GAAP)财务措施。自由现金流指的是业务经营活动现金流减去资本支出后的所剩现金。

盈利摘要

Amounts are in millions of dollars, except per-share amounts. 

      1Q141Q13Change                                                          Revenue$ 2,983$ 2,8853%                                              Operating profit$    690$    395   75%                                                      Net income$    487$    36235%                                           Earnings per share$     .44$     .3238%

  

现金流量

Amounts are in millions of dollars.

       Trailing 12 Months 1Q14 1Q141Q13ChangeCash flow from operations

Capital expenditures

Free cash flow

Free cash flow % of revenue$     462

$              77

$     385

13% $ 3,486

$    405

$ 3,081

25%$ 3,324

$    476

$ 2,848

23%

 5%

-15%

8%

 

Capital expenditures for the past twelve months were 3 percent of revenue.

现金回报

Amounts are in millions of dollars.

       Trailing 12 Months 1Q14 1Q141Q13ChangeDividends paid

Stock repurchases

Total cash returned

 $     325

$              720

$  1,045

  $ 1,268

$ 2,909

$ 4,177

 $    856

$ 2,179

$ 3,035

 48%

34%

38%

 

去年十二个月的现金回报总额达到公司现金回报目标的 99%(自由现金流减去净负债偿还,再加上权益计酬计画的收益)。

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

(Millions of dollars, except share and per-share amounts)

 For Three Months Ended Mar. 31,  2014 2013     Revenue …………………………………………………………………………………………….. …………………………………………………………………………………………………………….. $          2,983 $          2,885Cost of revenue ………………………………………………………………………………….             1,376             1,511Gross profit …………………………………………………………………………………………             1,607             1,374Research and development (R&D) …………………………………………………….                366                419Selling, general and administrative (SG&A) ……………………………………….                479                459Acquisition charges………………………………………………………………………………                   83                   86Restructuring charges/other………………………………………………………………….                  (11)                   15Operating profit ………………………………………………………………………………….                690                395Other income (expense), net ……………………………………………………………….                     6                     2Interest and debt expense …………………………………………………………………..                   25                   23Income before income taxes ……………………………………………………………..                671                374Provision for income taxes …………………………………………………………………                184                   12Net income ………………………………………………………………………………………… $             487 $             362     Earnings per common share:      Basic ………………………………………………………………………………………………. $              .44 $              .32  Diluted ……………………………………………………………………………………………. $              .44 $              .32     Average shares outstanding (millions):      Basic ……………………………………………………………………………………………….             1,081             1,107  Diluted …………………………………………………………………………………………….             1,096             1,123     Cash dividends declared per share of common stock ……………………….. $              .30 $              .21     Percentage of revenue:    Gross profit …………………………………………………………………………………………               53.9%                47.6%R&D ……………………………………………………………………………………………………               12.3%                14.5%SG&A …………………………………………………………………………………………………               16.1%                15.9%Operating profit ………………………………………………………………………………….               23.1%                13.7%

As required by accounting rule ASC 260, net income allocated to unvested restricted stock units (RSUs), on which we pay dividend equivalents, is excluded from the calculation of EPS.  $7 million is excluded for both the quarters ending March 31, 2014 and 2013.

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)

  Mar. 31, 2014 Mar. 31, 2013Assets    Current assets:    Cash and cash equivalents ……………………………………………………………… $         1,565 $         1,393Short-term investments ……………………………………………………………………            2,467            2,469Accounts receivable, net of allowances of ($23) and ($26) …………….            1,355            1,333Raw materials ………………………………………………………………………………….                  95                  99Work in process ………………………………………………………………………………..                898                930Finished goods ………………………………………………………………………………….                721                671Inventories ……………………………………………………………………………………….            1,714            1,700Deferred income taxes ……………………………………………………………………..                383                469Prepaid expenses and other current assets ……………………………………….                876                841Total current assets ………………………………………………………………………….            8,360            8,205Property, plant and equipment at cost ………………………………………………..            6,426            6,773Accumulated depreciation ……………………………………………………………….           (3,247)            (3,034)Property, plant and equipment, net ………………………………………………….            3,179            3,739Long-term investments ………………………………………………………………………..                212                204Goodwill, net………………………………………………………………………………………….            4,362            4,362Acquisition-related intangibles, net ……………………………………………………..            2,142            2,473Deferred income taxes …………………………………………………………………………                200                264Capitalized software licenses, net ………………………………………………………..                111                169Overfunded retirement plans…………………………………………………………………                129                  62Other assets ………………………………………………………………………………………….                240                223Total assets …………………………………………………………………………………………. $       18,935 $       19,701     Liabilities and Stockholders’ Equity    Current liabilities:    Current portion of long-term debt …………………………………………………… $         1,000 $         1,500Accounts payable …………………………………………………………………………….                405                440Accrued compensation …………………………………………………………………….                364                365Income taxes payable ……………………………………………………………………..                101                109Deferred income taxes ……………………………………………………………………..                    1                    2Accrued expenses and other liabilities ……………………………………………..                600                694Total current liabilities ……………………………………………………………………..            2,471            3,110Long-term debt ……………………………………………………………………………………            4,652            4,183Underfunded retirement plans …………………………………………………………….                218                258Deferred income taxes …………………………………………………………………………                536                598Deferred credits and other liabilities …………………………………………………….                438                600Total liabilities ……………………………………………………………………………………..            8,315            8,749


Stockholders’ equity:    Preferred stock, $25 par value.  Authorized – 10,000,000 shares. Participating cumulative preferred.  None issued.  

—  

—Common stock, $1 par value.  Authorized – 2,400,000,000 shares.  Shares issued – 1,740,815,939 ……………………………………………………..  

1,741 

1,741Paid-in capital …………………………………………………………………………………..           1,181           1,049Retained earnings ……………………………………………………………………………..         28,331         27,330Treasury common stock at cost.

… Shares:  Mar. 31, 2014 – 661,464,745; Mar. 31, 2013 –

631,661,551…………………………………………………………………………………. 

  

(20,113)  

(18,518)Accumulated other comprehensive income (loss), net of taxes ………. (520)             (650)Total stockholders’ equity ………………………………………………………………..         10,620         10,952Total liabilities and stockholders’ equity …………………………………………….. $     18,935 $     19,701

Certain amounts in the prior period’s financial statement have been reclassified to conform to the current presentation.

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