北京2019年1月25日電 /美通社/ -- 德州儀器公司（TI）（NASDAQ: TXN）日前公布其第四季度財(cái)務(wù)報(bào)告，營(yíng)業(yè)收入為37.2億美元，凈收入12.4億美元，每股收益1.27美元。其中，每股收益包括未涵蓋在公司原始計(jì)劃中的1美分離散稅優(yōu)惠（discrete tax benefit）。
關(guān)于公司業(yè)績(jī)及股東回報(bào)，TI董事長(zhǎng)、總裁兼首席執(zhí)行官Rich Templeton作如下說明：
自由現(xiàn)金流為非GAAP財(cái)務(wù)衡量指標(biāo)。自由現(xiàn)金流指的是經(jīng)營(yíng)活動(dòng)產(chǎn)生的現(xiàn)金流減去資本支出后的所?，F(xiàn)金。
盈利摘要
單位為百萬美元，每股收益除外。
4Q18 |
4Q17 |
變化 |
||||
營(yíng)業(yè)收入 |
$ |
3,717 |
$ |
3,750 |
(1)% |
|
營(yíng)業(yè)利潤(rùn) |
$ |
1,516 |
$ |
1,563 |
(3)% |
|
凈收入 |
$ |
1,239 |
$ |
344 |
260% |
|
每股收益 |
$ |
1.27 |
$ |
0.34 |
274% |
現(xiàn)金流量
單位為百萬美元。
最近連續(xù)12個(gè)月 |
|||||||||
4Q18 |
4Q18 |
4Q17 |
變化 |
||||||
經(jīng)營(yíng)現(xiàn)金流 |
$ |
2,145 |
$ |
7,189 |
$ |
5,363 |
34% |
||
資本支出 |
$ |
323 |
$ |
1,131 |
$ |
695 |
63% |
||
自由現(xiàn)金流 |
$ |
1,822 |
$ |
6,058 |
$ |
4,668 |
30% |
||
自由現(xiàn)金流占營(yíng)業(yè)收入百分比 |
38.4% |
31.2% |
|||||||
現(xiàn)金回報(bào)
單位為百萬美元
最近連續(xù)12個(gè)月 |
|||||||||||
4Q18 |
4Q18 |
4Q17 |
變化 |
||||||||
分派股息 |
$ |
736 |
$ |
2,555 |
$ |
2,104 |
21% |
||||
股票回購(gòu) |
$ |
2,009 |
$ |
5,100 |
$ |
2,556 |
100% |
||||
總現(xiàn)金回報(bào) |
$ |
2,745 |
$ |
7,655 |
$ |
4,660 |
64% |
||||
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES |
||||||||||||||
Consolidated Statements of Income |
||||||||||||||
(Millions of dollars, except share and per-share amounts) |
||||||||||||||
For Three Months Ended |
For Years Ended |
|||||||||||||
December 31, |
December 31, |
|||||||||||||
2018 |
2017 |
2018 |
2017 |
|||||||||||
Revenue |
$ |
3,717 |
$ |
3,750 |
$ |
15,784 |
$ |
14,961 |
||||||
Cost of revenue (COR) |
1,310 |
1,310 |
5,507 |
5,347 |
||||||||||
Gross profit |
2,407 |
2,440 |
10,277 |
9,614 |
||||||||||
Research and development (R&D) |
400 |
386 |
1,559 |
1,508 |
||||||||||
Selling, general and administrative (SG&A) |
414 |
409 |
1,684 |
1,694 |
||||||||||
Acquisition charges |
79 |
79 |
318 |
318 |
||||||||||
Restructuring charges/other |
(2) |
3 |
3 |
11 |
||||||||||
Operating profit |
1,516 |
1,563 |
6,713 |
6,083 |
||||||||||
Other income (expense), net (OI&E) |
23 |
8 |
98 |
75 |
||||||||||
Interest and debt expense |
36 |
21 |
125 |
78 |
||||||||||
Income before income taxes |
1,503 |
1,550 |
6,686 |
6,080 |
||||||||||
Provision for income taxes |
264 |
1,206 |
1,106 |
2,398 |
||||||||||
Net income |
$ |
1,239 |
$ |
344 |
$ |
5,580 |
$ |
3,682 |
||||||
Diluted earnings per common share |
$ |
1.27 |
$ |
.34 |
$ |
5.59 |
$ |
3.61 |
||||||
Average shares outstanding (millions): |
||||||||||||||
Basic |
953 |
985 |
970 |
991 |
||||||||||
Diluted |
970 |
1,007 |
990 |
1,012 |
||||||||||
Cash dividends declared per common share |
$ |
.77 |
$ |
.62 |
$ |
2.63 |
$ |
2.12 |
||||||
Supplemental Information |
|||||||||||||
Provision for income taxes is based on the following: |
|||||||||||||
Operating taxes (calculated using the estimated annual effective tax rate) |
$ |
277 |
$ |
476 |
$ |
1,304 |
$ |
1,858 |
|||||
Discrete tax items |
(13) |
730 |
(198) |
540 |
|||||||||
Provision for income taxes (effective taxes) |
$ |
264 |
$ |
1,206 |
$ |
1,106 |
$ |
2,398 |
|||||
Effective tax rate |
18% |
78% |
17% |
39% |
|||||||||
Our annual operating tax rate, which does not include dicrete tax items, was 20 percent compared with 31 percent in the prior
A portion of net income is allocated to unvested restricted stovk units (RSUs) on which we pay dividend equivalents. Diluted |
|||||||||||||
Net income |
$ |
1,239 |
$ |
344 |
$ |
5,580 |
$ |
3,682 |
|||||
Income allocated to RSUs |
(8) |
(3) |
(42) |
(33) |
|||||||||
Income allocated to common stock for diluted EPS |
$ |
1,231 |
$ |
341 |
$ |
5,538 |
$ |
3,649 |
|||||
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES |
||||||
Consolidated Balance Sheets |
||||||
(Millions of dollars, except share amounts) |
||||||
December 31, |
||||||
2018 |
2017 |
|||||
Assets |
||||||
Current assets: |
||||||
Cash and cash equivalents |
$ |
2,438 |
$ |
1,656 |
||
Short-term investments |
1,795 |
2,813 |
||||
Accounts receivable, net of allowances of ($19) and ($8) |
1,207 |
1,278 |
||||
Raw materials |
181 |
126 |
||||
Work in process |
1,070 |
1,089 |
||||
Finished goods |
966 |
742 |
||||
Inventories |
2,217 |
1,957 |
||||
Prepaid expenses and other current assets |
440 |
1,030 |
||||
Total current assets |
8,097 |
7,457 |
||||
Property, plant and equipment at cost |
5,425 |
4,789 |
||||
Accumulated depreciation |
(2,242) |
(2,125) |
||||
Property, plant and equipment, net |
3,183 |
2,664 |
||||
Long-term investments |
251 |
268 |
||||
Goodwill |
4,362 |
4,362 |
||||
Acquisition-related intangibles |
628 |
946 |
||||
Deferred tax assets |
295 |
264 |
||||
Capitalized software licenses |
89 |
110 |
||||
Overfunded retirement plans |
92 |
208 |
||||
Other assets |
140 |
86 |
||||
Total assets |
$ |
17,137 |
$ |
17,642 |
||
Liabilities and stockholders' equity |
||||||
Current liabilities: |
||||||
Current portion of long-term debt |
$ |
749 |
$ |
500 |
||
Accounts payable |
478 |
466 |
||||
Accrued compensation |
724 |
722 |
||||
Income taxes payable |
103 |
128 |
||||
Accrued expenses and other liabilities |
420 |
442 |
||||
Total current liabilities |
2,474 |
2,258 |
||||
Long-term debt |
4,319 |
3,577 |
||||
Underfunded retirement plans |
118 |
89 |
||||
Deferred tax liabilities |
42 |
78 |
||||
Deferred credits and other liabilities |
1,190 |
1,303 |
||||
Total liabilities |
8,143 |
7,305 |
||||
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 |
1,741 |
||||
Paid-in capital |
1,950 |
1,776 |
||||
Retained earnings |
37,906 |
34,662 |
||||
Treasury common stock at cost |
||||||
Shares: 2018 – 795,665,646; 2017 – 757,657,217 |
(32,130) |
(27,458) |
||||
Accumulated other comprehensive income (loss), net of taxes (AOCI) |
(473) |
(384) |
||||
Total stockholders' equity |
8,994 |
10,337 |
||||
Total liabilities and stockholders' equity |
$ |
17,137 |
$ |
17,642 |
||
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES |
|||||||||||||
Consolidated Statements of Cash Flows |
|||||||||||||
(Millions of dollars) |
|||||||||||||
For Three Months Ended |
For Years Ended |
||||||||||||
December 31, December 31, |
|||||||||||||
2018 |
2017 |
2018 |
2017 |
||||||||||
Cash flows from operating activities |
|||||||||||||
Net income |
$ |
1,239 |
$ |
344 |
$ |
5,580 |
$ |
3,682 |
|||||
Adjustments to Net income: |
|||||||||||||
Depreciation |
158 |
133 |
590 |
539 |
|||||||||
Amortization of acquisition-related intangibles |
79 |
79 |
318 |
318 |
|||||||||
Amortization of capitalized software |
12 |
12 |
46 |
47 |
|||||||||
Stock-based compensation |
42 |
45 |
232 |
242 |
|||||||||
Gains on sales of assets |
(3) |
— |
(3) |
— |
|||||||||
Deferred taxes |
(23) |
159 |
(105) |
(112) |
|||||||||
Increase (decrease) from changes in: |
|||||||||||||
Accounts receivable |
378 |
299 |
71 |
(7) |
|||||||||
Inventories |
(101) |
(49) |
(282) |
(167) |
|||||||||
Prepaid expenses and other current assets |
101 |
33 |
669 |
76 |
|||||||||
Accounts payable and accrued expenses |
(13) |
70 |
(7) |
51 |
|||||||||
Accrued compensation |
105 |
82 |
(7) |
(3) |
|||||||||
Income taxes payable |
147 |
694 |
158 |
468 |
|||||||||
Changes in funded status of retirement plans |
10 |
(15) |
36 |
21 |
|||||||||
Other |
14 |
43 |
(107) |
(16) |
|||||||||
Cash flows from operating activities |
2,145 |
1,929 |
7,189 |
5,363 |
|||||||||
Cash flows from investing activities |
|||||||||||||
Capital expenditures |
(323) |
(231) |
(1,131) |
(695) |
|||||||||
Proceeds from asset sales |
9 |
— |
9 |
40 |
|||||||||
Purchases of short-term investments |
(333) |
(1,450) |
(5,641) |
(4,555) |
|||||||||
Proceeds from short-term investments |
2,163 |
790 |
6,708 |
4,095 |
|||||||||
Other |
(11) |
(7) |
(23) |
(12) |
|||||||||
Cash flows from investing activities |
1,505 |
(898) |
(78) |
(1,127) |
|||||||||
Cash flows from financing activities |
|||||||||||||
Proceeds from issuance of debt |
— |
494 |
1,500 |
1,099 |
|||||||||
Repayment of debt |
— |
— |
(500) |
(625) |
|||||||||
Dividends paid |
(736) |
(611) |
(2,555) |
(2,104) |
|||||||||
Stock repurchases |
(2,009) |
(706) |
(5,100) |
(2,556) |
|||||||||
Proceeds from common stock transactions |
38 |
162 |
373 |
483 |
|||||||||
Other |
(7) |
(10) |
(47) |
(31) |
|||||||||
Cash flows from financing activities |
(2,714) |
(617) |
(6,329) |
(3,734) |
|||||||||
Net change in Cash and cash equivalents |
936 |
360 |
782 |
502 |
|||||||||
Cash and cash equivalents at beginning of period |
1,502 |
1,296 |
1,656 |
1,154 |
|||||||||
Cash and cash equivalents at end of period |
$ |
2,438 |
$ |
1,656 |
$ |
2,438 |
$ |
1,656 |
|||||
業(yè)務(wù)分類季度業(yè)績(jī)
單位為百萬美元
4Q18 |
4Q17 |
變化 |
||||||
模擬： |
||||||||
營(yíng)業(yè)收入 |
$ |
2,638 |
$ |
2,535 |
4% |
|||
營(yíng)業(yè)利潤(rùn) |
$ |
1,233 |
$ |
1,188 |
4% |
|||
嵌入式處理： |
||||||||
營(yíng)業(yè)收入 |
$ |
791 |
$ |
896 |
(12)% |
|||
營(yíng)業(yè)利潤(rùn) |
$ |
234 |
$ |
307 |
(24)% |
|||
其它： |
||||||||
營(yíng)業(yè)收入 |
$ |
288 |
$ |
319 |
(10)% |
|||
營(yíng)業(yè)利潤(rùn)* |
$ |
49 |
$ |
68 |
(28)% |
*包括收購(gòu)、重組或其它費(fèi)用。
與去年同期相比：
模擬：(包括電源、信號(hào)鏈和大容量模擬業(yè)務(wù))
嵌入式處理：(包括連接微控制器和處理器業(yè)務(wù))
其它：(包括DLP®產(chǎn)品、計(jì)算器、定制ASIC產(chǎn)品)
業(yè)務(wù)分類年度業(yè)績(jī)
單位為百萬美元
2018 |
2017 |
變化 |
||||||
模擬： |
||||||||
營(yíng)業(yè)收入 |
$ |
10,801 |
$ |
9,900 |
9% |
|||
營(yíng)業(yè)利潤(rùn) |
$ |
5,109 |
$ |
4,468 |
14% |
|||
嵌入式處理： |
||||||||
營(yíng)業(yè)收入 |
$ |
3,554 |
$ |
3,498 |
2% |
|||
營(yíng)業(yè)利潤(rùn) |
$ |
1,205 |
$ |
1,143 |
5% |
|||
其它： |
||||||||
營(yíng)業(yè)收入 |
$ |
1,429 |
$ |
1,563 |
(9)% |
|||
營(yíng)業(yè)利潤(rùn)* |
$ |
399 |
$ |
472 |
(15)% |
*包括收購(gòu)、重組或其它費(fèi)用。
與去年同期相比：
模擬：
嵌入式處理：
其它：
非GAAP財(cái)務(wù)信息
本新聞稿包括根據(jù)這一衡量標(biāo)準(zhǔn)計(jì)算的自由現(xiàn)金流及各種比值。這些財(cái)務(wù)衡量標(biāo)準(zhǔn)并不遵循美國(guó)一般公認(rèn)會(huì)計(jì)原則(GAAP)。自由現(xiàn)金流的計(jì)算方法是從最直接可比GAAP衡量標(biāo)準(zhǔn)，經(jīng)營(yíng)活動(dòng)所產(chǎn)生的現(xiàn)金流（也被稱為經(jīng)營(yíng)現(xiàn)金流）中減去資本支出。
本公司認(rèn)為，自由現(xiàn)金流和相關(guān)的比值能夠深刻反映公司的流動(dòng)資金、現(xiàn)金生成能力和潛在可回報(bào)投資者的現(xiàn)金金額，并幫助更好了解公司財(cái)務(wù)業(yè)績(jī)。這些非GAAP衡量指標(biāo)是可比GAAP衡量指標(biāo)的補(bǔ)充。
下表中的數(shù)據(jù)是基于最直接可比GAAP的衡量標(biāo)準(zhǔn)經(jīng)調(diào)整后所得出的數(shù)據(jù)。
單位為百萬美元
For 12 Months Ended |
||||||||
December 31, |
||||||||
2018 |
2017 |
Change |
||||||
Cash flow from operations (GAAP) ...................................................................... |
$ |
7,189 |
$ |
5,363 |
34% |
|||
Capital expenditures ............................................................................................... |
(1,131) |
(695) |
||||||
Free cash flow (non-GAAP) ................................................................................. |
$ |
6,058 |
$ |
4,668 |
30% |
|||
Revenue ................................................................................................................. |
$ |
15,784 |
$ |
14,961 |
||||
Cash flow from operations as a percent of revenue (GAAP) ................................. |
45.5% |
35.8% |
||||||
Free cash flow as a percent of revenue (non-GAAP) ............................................ |
38.4% |
31.2% |
||||||
本新聞稿還包括對(duì)年度營(yíng)業(yè)稅率的參考，這是一個(gè)我們用來描述預(yù)估年度實(shí)際稅率的非GAAP數(shù)據(jù)項(xiàng)，從定義上看，一個(gè)GAAP衡量標(biāo)準(zhǔn)不包括離散稅項(xiàng)目。我們相信，由于營(yíng)業(yè)稅率更加清晰地描述了預(yù)估年度實(shí)際稅率所代表的內(nèi)容，即稅率將會(huì)對(duì)我們運(yùn)營(yíng)的增量變化產(chǎn)生怎樣的影響，這一數(shù)據(jù)項(xiàng)是有用的。在適用年度營(yíng)業(yè)稅率時(shí)對(duì)預(yù)估年度實(shí)際稅率沒有進(jìn)行調(diào)整。
預(yù)測(cè)性聲明通知
此新聞稿包含根據(jù)美國(guó)1995年《私人證券訴訟改革法案》之免責(zé)條款所擬定的前瞻性聲明。這些聲明一般以 TI及其管理層“相信”、“期望”、“預(yù)期”、“預(yù)見”、“估計(jì)”或其它具有相似含義的字詞呈現(xiàn)。同樣，文中對(duì)TI的業(yè)務(wù)戰(zhàn)略、前景、目的、計(jì)劃、意圖或目標(biāo)之陳述亦屬前瞻性聲明。所有此等前瞻性聲明均具有一定風(fēng)險(xiǎn)及不確定性，可能導(dǎo)致實(shí)際結(jié)果與前瞻性聲明內(nèi)容存在重大差異。
我們希望讀者能仔細(xì)考慮以下重要因素，它們可能導(dǎo)致實(shí)際結(jié)果與TI或其管理層的預(yù)期產(chǎn)生重大差異:
有關(guān)這些因素的更詳細(xì)討論，請(qǐng)參閱TI最新10-K表格1A項(xiàng)“風(fēng)險(xiǎn)因素”的討論。本新聞稿中包含的前瞻性陳述僅截至本新聞稿發(fā)布之日有效，TI不承擔(dān)任何對(duì)這些前瞻性陳述進(jìn)行更新以反映后續(xù)事件或情況的義務(wù)。
關(guān)于德州儀器公司
德州儀器 (TI) 是一家全球性半導(dǎo)體設(shè)計(jì)制造公司，始終致力于模擬 IC 及嵌入式處理器開發(fā)。TI 擁有全球頂尖人才，銳意創(chuàng)新，引領(lǐng)技術(shù)前沿。今天，TI 正攜手大約10萬家客戶打造更美好未來。更多詳情，可登錄www.ti.com.cn 查閱。
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