AGK Finance
  • Business
  • Finance
  • Financial Tips
  • Invest
  • Money
  • Stock
No Result
View All Result
  • Business
  • Finance
  • Financial Tips
  • Invest
  • Money
  • Stock
No Result
View All Result
AGK Finance
No Result
View All Result
Home Finance

TI reports third quarter 2020 financial results and shareholder returns

admin by admin
October 20, 2020
in Finance
0
TI reports third quarter 2020 financial results and shareholder returns
  • Share
  • Tweet
  • Pin
0shares

Last Updated on October 20, 2020 by admin


DALLAS, Oct. 20, 2020 /PRNewswire/ — Texas Devices Integrated (TI) (Nasdaq: TXN) at this time reported third quarter income of $three.82 billion, internet earnings of $1.35 billion and earnings per share of $1.45.

Relating to the corporate’s efficiency and returns to shareholders, Wealthy Templeton, TI’s chairman, president and CEO, made the next feedback:

  • “Income elevated 18% sequentially with notable power from the rebound of automotive demand and rising demand from private electronics. Income elevated 1% from the identical quarter a 12 months in the past.
  • “In our core companies, Analog income grew 18% and Embedded Processing grew 19% sequentially. From a 12 months in the past, Analog income grew 7% and Embedded Processing declined 10%.
  • “Our money stream from operations of $5.eight billion for the trailing 12 months once more underscored the power of our enterprise mannequin. Free money stream for a similar interval was $5.2 billion and 38% of income. This displays the standard of our product portfolio, in addition to the effectivity of our manufacturing technique, together with the good thing about 300-millimeter Analog manufacturing.
  • “We now have returned $6.four billion to homeowners previously 12 months via inventory repurchases and dividends. Over the identical interval, our dividends represented 64% of free money stream, underscoring their sustainability. In September, we introduced we might enhance our dividend by 13%. Collectively, our inventory repurchases and dividends mirror our continued dedication to return all free money stream to our homeowners.
  • “TI’s fourth quarter outlook is for income within the vary of $three.41 billion to $three.69 billion, and earnings per share between $1.20 and $1.40.”

Free money stream, a non-GAAP monetary measure, is money stream from operations much less capital expenditures.

Earnings abstract

Quantities are in thousands and thousands of , besides per-share quantities.


Q3 2020


Q3 2019


Change

Income

$

three,817


$

three,771


1%

Working revenue

$

1,609


$

1,589


1%

Internet earnings

$

1,353


$

1,425


(5)%

Earnings per share

$

1.45


$

1.49


(three)%

Money era

Quantities are in thousands and thousands of .




Trailing 12 Months


Q3 2020


Q3 2020


Q3 2019


Change

Money stream from operations

$

1,443


$

5,768


$

7,zero40


(18)%

Capital expenditures

$

146


$

600


$

1,007


(40)%

Free money stream

$

1,297


$

5,168


$

6,033


(14)%

Free money stream % of income



37.6%


40.9%



Money return

Quantities are in thousands and thousands of .




Trailing 12 Months


Q3 2020


Q3 2020


Q3 2019


Change

Dividends paid

$

825


$

three,330


$

2,903


15%

Inventory repurchases

$

15


$

three,zero27


$

four,480


(32)%

Whole money returned

$

840


$

6,357


$

7,383


(14)%

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Earnings

(Hundreds of thousands of , besides share and per-share quantities)



For Three Months Ended

September 30,


2020


2019

Income

$

three,817


$

three,771

Value of income (COR)

1,364


1,325

Gross revenue

2,453


2,446

Analysis and growth (R&D)

386


379

Promoting, basic and administrative (SG&A)

407


399

Acquisition expenses

51


79

Working revenue

1,609


1,589

Different earnings (expense), internet (OI&E)

27


34

Curiosity and debt expense

49


43

Earnings earlier than earnings taxes

1,587


1,580

Provision for earnings taxes

234


155

Internet earnings

$

1,353


$

1,425





Diluted earnings per widespread share

$

1.45


$

1.49





Common shares excellent (thousands and thousands):




Primary

917


935

Diluted

929


950





Money dividends declared per widespread share

$

.90


$

.77



Supplemental Info

(Quarterly, besides as famous)


Provision for earnings taxes relies on the next:





Working taxes (calculated utilizing the estimated annual efficient tax charge)

$

231


$

257

Discrete tax gadgets

three


(102)

Provision for earnings taxes (efficient taxes)

$

234


$

155





Annual working tax charge

14%


16%

Efficient tax charge

15%


10%





A portion of internet earnings is allotted to unvested restricted inventory items (RSUs) on which we pay dividend equivalents. Diluted EPS is calculated utilizing the next:





Internet earnings

$

1,353


$

1,425

Earnings allotted to RSUs

(6)


(eight)

Earnings allotted to widespread inventory for diluted EPS

$

1,347


$

1,417

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Steadiness Sheets

(Hundreds of thousands of , besides share quantities)



September 30,


2020


2019

Property




Present belongings:




Money and money equivalents

$

2,822


$

three,893

Quick-term investments

2,696


1,174

Accounts receivable, internet of allowances of ($12) and ($13)

1,392


1,342

Uncooked supplies

192


175

Work in course of

959


955

Completed items

921


910

Inventories

2,zero72


2,zero40

Pay as you go bills and different present belongings

277


264

Whole present belongings

9,259


eight,713

Property, plant and gear at value

5,698


5,683

Gathered depreciation

(2,508)


(2,365)

Property, plant and gear

three,190


three,318

Lengthy-term investments

47


298

Goodwill

four,362


four,362

Acquisition-related intangibles

189


390

Deferred tax belongings

299


257

Capitalized software program licenses

133


77

Overfunded retirement plans

227


106

Different long-term belongings

501


471

Whole belongings

$

18,207


$

17,992





Liabilities and stockholders’ fairness




Present liabilities:




Present portion of long-term debt

$

550


$

499

Accounts payable

411


397

Accrued compensation

656


609

Earnings taxes payable

44


58

Accrued bills and different liabilities

524


444

Whole present liabilities

2,185


2,007

Lengthy-term debt

6,247


5,302

Underfunded retirement plans

103


123

Deferred tax liabilities

69


49

Different long-term liabilities

1,278


1,526

Whole liabilities

9,882


9,007

Stockholders’ fairness:




Most popular inventory, $25 par worth. Licensed – 10,000,000 shares




Collaborating cumulative most popular – None issued

—


—

Frequent inventory, $1 par worth. Licensed – 2,400,000,000 shares




Shares issued – 1,740,815,939

1,741


1,741

Paid-in capital

2,257


2,058

Retained earnings

41,305


39,674

Treasury widespread inventory at value




Shares: September 30, 2020 – 823,174,578; September 30, 2019 – 805,637,804

(36,643)


(34,045)

Gathered different complete earnings (loss), internet of taxes (AOCI)

(335)


(443)

Whole stockholders’ fairness

eight,325


eight,985

Whole liabilities and stockholders’ fairness

$

18,207


$

17,992

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Money Flows

(Hundreds of thousands of )



For Three Months Ended


September 30,


2020


2019

Money flows from working actions




Internet earnings

$

1,353


$

1,425

Changes to internet earnings:




Depreciation

183


183

Amortization of acquisition-related intangibles

51


79

Amortization of capitalized software program

16


13

Inventory compensation

50


48

Beneficial properties on gross sales of belongings

(2)


—

Deferred taxes

(51)


(four)

Enhance (lower) from adjustments in:




Accounts receivable

(216)


77

Inventories

64


39

Pay as you go bills and different present belongings

25


44

Accounts payable and accrued bills

(13)


29

Accrued compensation

157


129

Earnings taxes payable

(208)


(93)

Adjustments in funded standing of retirement plans

(1)


17

Different

35


6

Money flows from working actions

1,443


1,992





Money flows from investing actions




Capital expenditures

(146)


(149)

Proceeds from asset gross sales

2


—

Purchases of short-term investments

(2,540)


(986)

Proceeds from short-term investments

510


220

Different

(15)


1

Money flows from investing actions

(2,189)


(914)





Money flows from financing actions




Proceeds from issuance of long-term debt

—


748

Reimbursement of debt

—


(750)

Dividends paid

(825)


(721)

Inventory repurchases

(15)


(456)

Proceeds from widespread inventory transactions

123


194

Different

(9)


(13)

Money flows from financing actions

(726)


(998)





Internet change in money and money equivalents

(1,472)


80

Money and money equivalents at starting of interval

four,294


three,813

Money and money equivalents at finish of interval

$

2,822


$

three,893

Section outcomes

Quantities are in thousands and thousands of .


Q3 2020


Q3 2019


Change

Analog:






Income

$

2,865



$

2,674



7%

Working revenue

$

1,320



$

1,231



7%

Embedded Processing:






     Income

$

651



$

724



(10)%

Working revenue

$

187



$

233



(20)%

Different:






Income

$

301



$

373



(19)%

Working revenue*

$

102



$

125



(18)%


* Contains acquisition expenses.

In contrast with the year-ago quarter:

Analog: (consists of Energy and Sign Chain)

  • Income elevated in Sign Chain and Energy.
  • Working revenue elevated as a consequence of larger income and related gross revenue.

Embedded Processing: (consists of Linked Microcontrollers and Processors)

  • Income decreased in each product strains.
  • Working revenue decreased as a consequence of decrease income and related gross revenue.

Different: (consists of DLP® merchandise, calculators and customized ASIC merchandise)

  • Income decreased $72 million, and working revenue decreased $23 million.

Non-GAAP monetary info

This launch consists of references to free money stream and ratios based mostly on that measure. These are monetary measures that weren’t ready in accordance with GAAP. Free money stream was calculated by subtracting capital expenditures from probably the most immediately comparable GAAP measure, money flows from working actions (additionally known as money stream from operations).

We consider that free money stream and the related ratios present perception into our liquidity, our cash-generating functionality and the amount of money doubtlessly accessible to return to shareholders, in addition to perception into our monetary efficiency. These non-GAAP measures are supplemental to the comparable GAAP measures.

Reconciliation to probably the most immediately comparable GAAP measures is supplied within the desk under.

Quantities are in thousands and thousands of .


For 12 Months Ended


September 30,


2020


2019


Change

Money stream from operations (GAAP)

$

5,768


$

7,zero40


(18)%

Capital expenditures

(600)


(1,007)



Free money stream (non-GAAP)

$

5,168


$

6,033


(14)%







Income

$

13,735


$

14,750









Money stream from operations as a share of income (GAAP)

42.zero%


47.7%



Free money stream as a share of income (non-GAAP)

37.6%


40.9%



This launch additionally consists of references to an annual working tax charge, a non-GAAP time period we use to explain the estimated annual efficient tax charge, a GAAP measure that by definition doesn’t embrace discrete tax gadgets. We consider the time period annual working tax charge helps differentiate from the efficient tax charge, which incorporates discrete tax gadgets.

Discover concerning forward-looking statements

This launch consists of forward-looking statements supposed to qualify for the secure harbor from legal responsibility established by the Personal Securities Litigation Reform Act of 1995. These forward-looking statements typically will be recognized by phrases similar to TI or its administration “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or different phrases or phrases of comparable import. Equally, statements herein that describe TI’s enterprise technique, outlook, targets, plans, intentions or objectives are also forward-looking statements. All such forward-looking statements are topic to sure dangers and uncertainties that might trigger precise outcomes to vary materially from these in forward-looking statements.

We urge you to rigorously think about the next essential elements that might trigger precise outcomes to vary materially from the expectations of TI or our administration:

  • The length and scope of the COVID-19 pandemic, authorities and different third-party responses to it and the results for the worldwide financial system, together with to our enterprise and the companies of our suppliers, prospects and distributors;
  • Financial, social and political situations, and pure occasions within the nations wherein we, our prospects or our suppliers function, together with international commerce insurance policies;
  • Market demand for semiconductors, significantly within the industrial and automotive markets, and buyer demand that differs from forecasts;
  • Our potential to compete in merchandise and costs in an intensely aggressive trade;
  • Evolving cybersecurity and different threats referring to our info know-how techniques or these of our prospects or suppliers;
  • Our potential to efficiently implement and understand alternatives from strategic, enterprise and organizational adjustments, or our potential to appreciate our expectations concerning the quantity and timing of restructuring expenses and related value financial savings;
  • Our potential to develop, manufacture and market modern merchandise in a quickly altering technological atmosphere, and our well timed implementation of recent manufacturing applied sciences and set up of producing gear;
  • Availability and price of uncooked supplies, utilities, manufacturing gear, third-party manufacturing companies and manufacturing know-how;
  • Product legal responsibility, guarantee or different claims referring to our merchandise, manufacturing, supply, companies, design or communications, or recollects by our prospects for a product containing one in every of our components;
  • Compliance with or adjustments within the advanced legal guidelines, guidelines and laws to which we’re or might grow to be topic, or actions of enforcement authorities, that prohibit our potential to function our enterprise, or topic us to fines, penalties or different authorized legal responsibility;
  • Adjustments in tax legislation and accounting requirements that affect the tax charge relevant to us, the jurisdictions wherein income are decided to be earned and taxed, opposed decision of tax audits, will increase in tariff charges, and the flexibility to appreciate deferred tax belongings;
  • A loss suffered by one in every of our prospects or distributors with respect to TI-consigned stock;
  • Monetary difficulties of our distributors or their promotion of competing product strains to our detriment; or disputes with important distributors;
  • Losses or curtailments of purchases from key prospects or the timing and quantity of distributor and different buyer stock changes;
  • Our potential to keep up or enhance revenue margins, together with our potential to make the most of our manufacturing services at enough ranges to cowl our fastened working prices, in an intensely aggressive and cyclical trade and altering regulatory atmosphere;
  • Our potential to keep up and implement a powerful mental property portfolio and preserve freedom of operation in all jurisdictions the place we conduct enterprise; or our publicity to infringement claims;
  • Instability within the international credit score and monetary markets;
  • Will increase in well being care and pension profit prices;
  • Our potential to recruit and retain expert personnel, and successfully handle key worker succession; and
  • Impairments of our non-financial belongings.

For a extra detailed dialogue of those elements, see the Danger elements dialogue in Half II Merchandise 1A of TI’s Type 10-Q for the quarter ended March 31, 2020. The forward-looking statements included on this launch are made solely as of the date of this launch, and we undertake no obligation to replace the forward-looking statements to mirror subsequent occasions or circumstances. If we do replace any forward-looking assertion, you shouldn’t infer that we are going to make further updates with respect to that assertion or some other forward-looking assertion.

About Texas Devices

Texas Devices Integrated (Nasdaq: TXN) is a worldwide semiconductor firm that designs, manufactures, assessments and sells analog and embedded processing chips for markets similar to industrial, automotive, private electronics, communications gear and enterprise techniques. Our ardour to create a greater world by making electronics extra inexpensive via semiconductors is alive at this time, as every era of innovation builds upon the final to make our know-how smaller, extra environment friendly, extra dependable and extra inexpensive – making it doable for semiconductors to enter electronics in every single place. We consider this as Engineering Progress. It is what we do and have been doing for many years. Be taught extra at TI.com.

TI logos:
     DLP
Different logos are the property of their respective homeowners.

TXN-G

SOURCE Texas Devices Integrated

https://www.prnewswire.com/

Associated Hyperlinks

http://www.ti.com

Tags: FinancialQuarterReportsResultsreturnsShareholder
admin

admin

Related Posts

Florida Has 11 Municipalities In A State Of Financial Emergency. Here Is One’s Story – WUFT News
Finance

Florida Has 11 Municipalities In A State Of Financial Emergency. Here Is One’s Story – WUFT News

November 5, 2022
Europcar Reschedules Q3 Financial Call – Rental Operations
Finance

Europcar Reschedules Q3 Financial Call – Rental Operations

November 5, 2022
Premier Financial: 3Q Earnings Snapshot
Finance

David Dodge joins Rocky Mountain Communities as director of financial planning and analysis

November 4, 2022
Next Post
Facing budget challenges, nonprofits get creative to raise money during pandemic

Facing budget challenges, nonprofits get creative to raise money during pandemic

Biden Portfolio: Cramer’s ‘Mad Money’ Recap (Tuesday 10/20/20)

Biden Portfolio: Cramer's 'Mad Money' Recap (Tuesday 10/20/20)

The Big Oil Side Hustle: Where ‘Renewable’ Money Is Really Going

The Big Oil Side Hustle: Where 'Renewable' Money Is Really Going

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Categories

  • Business
  • Finance
  • Financial Tips
  • Invest
  • Money
  • Stock

Topics

Act Announce Announces Bank billion Business buy chief City Council County COVID19 Earnings Finance Financial fund Group health invest Investment Local Market Michigan million Monday money News October pandemic Quarter raise Reports Results save Smart state stimulus Stock stocks support time today Trump Ways West

Subscribe

Subscribe
Bard
Thompson
[email protected]
No Result
View All Result

Highlights

Europcar Reschedules Q3 Financial Call – Rental Operations

Idaho OKs contract to distribute low-income education money | Local

David Dodge joins Rocky Mountain Communities as director of financial planning and analysis

Premier Financial: 3Q Earnings Snapshot

Encompass Health declares dividend on common stock | News

Kaixin Auto stock plunges after a ‘surprise’ rocket ride higher

Trending

Florida Has 11 Municipalities In A State Of Financial Emergency. Here Is One’s Story – WUFT News
Finance

Florida Has 11 Municipalities In A State Of Financial Emergency. Here Is One’s Story – WUFT News

by admin
November 5, 2022
0

St. Lucie, Florida is a city on the Treasure Coast with a population of just over 100,000...

CEFC annual report glowing with ‘prudent investment’ – pv magazine Australia

CEFC annual report glowing with ‘prudent investment’ – pv magazine Australia

November 5, 2022
The 6-Step Guide to Raising Equity Finance – Bytestart

The 6-Step Guide to Raising Equity Finance – Bytestart

November 5, 2022
Europcar Reschedules Q3 Financial Call – Rental Operations

Europcar Reschedules Q3 Financial Call – Rental Operations

November 5, 2022
Following the money in Texas’ heated U.S. Senate race

Idaho OKs contract to distribute low-income education money | Local

November 4, 2022
Finance

Florida Has 11 Municipalities In A State Of Financial Emergency. Here Is One’s Story – WUFT News

November 5, 2022
Invest

CEFC annual report glowing with ‘prudent investment’ – pv magazine Australia

November 5, 2022

Recent News

  • CEFC annual report glowing with ‘prudent investment’ – pv magazine Australia
  • Florida Has 11 Municipalities In A State Of Financial Emergency. Here Is One’s Story – WUFT News
  • The 6-Step Guide to Raising Equity Finance – Bytestart

Category

  • Business
  • Finance
  • Financial Tips
  • Invest
  • Money
  • Stock
  • Contact Us
  • REPORT SPAM
  • TERMS & CONDITIONS
  • SITE SECURITY
  • PRIVACY POLICY
  • ABOUT US
  • ANTI-SPAM POLICY

© 2020 agkfinance

No Result
View All Result

© 2020 agkfinance

0shares