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Texas Instruments Incorporated (TI) reported second quarter revenue of $4.45 billion, net income of $1.30 billion and earnings per share of $1.41. Earnings per share included a 2-cent benefit that was not in the company's original guidance.
Regarding the company's performance and returns to shareholders, Haviv Ilan, TI's president and CEO, made the following comments:
- "Revenue increased 9% sequentially, led by continued broad recovery in industrial, and 16% from the same quarter a year ago.
- "Our cash flow from operations of $6.4 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300mm production. Free cash flow for the same period was $1.8 billion.
- "Over the past 12 months we invested $3.9 billion in R&D and SG&A, invested $4.9 billion in capital expenditures and returned $6.7 billion to owners.
- "TI's third quarter outlook is for revenue in the range of $4.45 billion to $4.80 billion and earnings per share between $1.36 and $1.60, which does not include changes related to recently enacted U.S. tax legislation."
