TI reports second quarter 2020 financial results and shareholder returns

 

Segment results

Amounts are in millions of dollars.


Q2 2020


Q2 2019


Change

Analog:






Revenue

$

2,434


$

2,534



(4)%

Operating profit

$

1,053


$

1,108



(5)%

Embedded Processing:






Revenue

$

546


$

790



(31)%

Operating profit

$

125


$

265



(53)%

Other:






Revenue

$

259


$

344



(25)%

Operating profit*

$

50


$

133



(62)%


* Includes acquisition charges and restructuring charges/other.

 

Compared with the year-ago quarter:

Analog: (includes Power, Signal Chain and High Volume)

  • Revenue decreased in High Volume and Power, while Signal Chain was about even.
  • Operating profit decreased due to lower revenue and associated gross profit.

Embedded Processing: (includes Connected Microcontrollers and Processors)

  • Revenue decreased in both product lines.
  • Operating profit decreased due to lower revenue and associated gross profit.

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

  • Revenue decreased $85 million, and operating profit decreased $83 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).

We believe that free cash flow and the associated ratios provide insight into our liquidity, our cash-generating capability and the amount of cash potentially available to return to shareholders, as well as insight into our financial performance. These non-GAAP measures are supplemental to the comparable GAAP measures.

Reconciliation to the most directly comparable GAAP measures is provided in the table below.

Amounts are in millions of dollars.


For 12 Months Ended



June 30,



2020


2019


Change

Cash flow from operations (GAAP)

$

6,317


$

7,154


(12)%

Capital expenditures

(603)


(1,228)



Free cash flow (non-GAAP)

$

5,714


$

5,926


(4)%







Revenue

$

13,689


$

15,240









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

46.1%


46.9%



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

41.7%


38.9%




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