|
|
1Q14 |
1Q13 |
Change |
|
Analog: |
|
|
|
|
Revenue |
$ 1,837 |
$ 1,648 |
11% |
|
Operating profit |
$ 498 |
$ 300 |
66% |
|
|
|
|
|
|
Embedded Processing: |
|
|
|
|
Revenue |
$ 656 |
$ 561 |
17% |
|
Operating profit |
$ 52 |
$ 7 |
643% |
|
|
|
|
|
|
Other: |
|
|
|
|
Revenue |
$ 490 |
$ 676 |
-28% |
|
Operating profit* |
$ 140 |
$ 88 |
59% |
|
|
|
|
|
|
* Includes Acquisition charges and Restructuring charges/other. |
Analog: (includes High Volume Analog & Logic, Power Management, High Performance Analog and Silicon Valley Analog)
- Compared with the year-ago quarter, revenue increased in all product lines. Power Management and High Performance Analog grew about equally, followed by Silicon Valley Analog and High Volume Analog & Logic.
- Operating profit increased from a year ago primarily due to higher revenue and associated gross profit.
Embedded Processing: (includes Processors, Microcontrollers and Connectivity)
- Compared with the year-ago quarter, revenue increased in all product lines. Microcontrollers grew the most, followed by Processors and Connectivity.
- Operating profit increased from a year ago due to higher revenue and associated gross profit.
Other: (includes DLP® products, custom ASIC products, calculators, royalties and legacy wireless products)
- Compared with the year-ago quarter, revenue declined due to legacy wireless products.
- Operating profit increased from a year ago due to lower operating expenses, as well as lower restructuring charges/other. These were partially offset by lower gross profit. Restructuring charges/other in the quarter benefited from sales of a site and other assets.
Non-GAAP financial information
Revenue excluding legacy wireless:
This release includes references to TI's revenue and revenue outlook excluding legacy wireless products. The company believes these measures, which were not prepared in accordance with generally accepted accounting principles in the United States (GAAP), provide investors with insight into TI's underlying business results and are supplemental to the comparable GAAP measure. Reconciliation to the most directly comparable GAAP-based measure is provided in the tables below.
|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
|
(Millions of dollars) | ||||||
|
| ||||||
|
|
|
For Three Months Ended |
|
| ||
|
|
|
Mar. 31, 2014 |
|
Mar. 31, 2013 |
|
Change |
|
|
|
|
|
|
|
|
|
Revenue (GAAP) |
|
$ 2,983 |
|
$ 2,885 |
|
3% |
|
Legacy wireless revenue |
|
(8) |
|
(210) |
|
|
|
TI Revenue less legacy wireless revenue (non-GAAP) |
|
$ 2,975 |
|
$ 2,675 |
|
11% |
|
|
| |||||
|
|
| |||||
|
|
|
For Three Months Ended |
|
| ||
|
|
|
Jun. 30, 2014 (Expected)* |
|
Jun. 30, 2013 |
|
Change |
|
|
|
|
|
|
|
|
|
Revenue (GAAP) |
|
$ 3,270 |
|
$ 3,047 |
|
7% |
|
Legacy wireless revenue |
|
n/a |
|
(148) |
|
|
|
TI Revenue less legacy wireless revenue (non-GAAP) |
|
$ 3,270 |
|
$ 2,899 |
|
13% |
|
|
|
|
|
|
|
|
|
* Represents the average of the low point and the high point of the revenue guidance of $3.14 billion – $3.40 billion provided in this release. |
|
|
