Texas Instruments Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported revenue of $3,189 million against $3,269 million a year ago. Operating profit was $1,142 million against $1,100 million a year ago. Income before income taxes was $1,139 million against $1,087 million a year ago. Net income was $836 million or $0.80 per diluted share against $825 million or $0.76 per diluted share a year ago. Cash flows from operating activities were $1,430 million against $1,272 million a year ago. Capital expenditures were $164 million against $125 million a year ago.

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.