Texas Instruments Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings Guidance for the First Quarter and Tax Rate Guidance for the Full Year 2016
For the full year, the company reported revenue of $13,000 million against $13,045 million a year ago. Operating profit was $4,274 million against $3,947 million a year ago. Income before income taxes was $4,216 million against $3,874 million a year ago. Net income was $2,986 million or $2.82 per diluted share against $2,821 million or $2.57 per diluted share a year ago. Cash flows from operating activities were $4,268 million against $3,892 million a year ago. Capital expenditures were $551 million against $385 million a year ago.
For the first quarter of 2016, the company expected revenue in the range of $2.85 billion to $3.09 billion. The company expected first quarter earnings per share to be in the range of $0.57 to $0.67.
The company expectation for annual effective tax rate in 2016 is about 30%, and this is the tax rate that should use for the first quarter and for the year.