Texas Instruments 2007 Annual Report Download - page 2

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2007 2006
Net revenue $13,835 $14,255
Cost of revenue 6,502 6,996
Gross profit 7,333 7,259
Gross profit % of revenue 53.0% 50.9%
Research and development (R&D) 2,155 2,195
R&D % of revenue 15.6% 15.4 %
Selling, general and administrative (SG&A) 1,681 1,697
SG&A % of revenue 12.1% 11.9%
Profit from operations3,497 3,367
Operating profit % of revenue 25.3% 23.6%
Other income (expense) net 195 258
Income from continuing operations before income taxes3,692 3,625
Provision for income taxes1,051 987
Income from continuing operations 2,641 2,638
Income from discontinued operations, net of income taxes 16 1,703
Net income $ 2,657 $ 4,341
Diluted earnings per common share:
Income from continuing operations$ 1.83 $1.69
Net income $ 1.84 $ 2.78
Average shares outstanding, diluted 1,446 1,560
* See financial statements for complete statements and notes.
Except as noted, financial results are for continuing operations.
TABLE OF CONTENTS
1 Letter to Our Shareholders
2 Summary of Operations
4 CEO Q&A
5 Financial Statements
64 Stockholder and
Other Information
65 Board of Directors,
Executive Officers and
TI Fellows
ABOUT TI
Texas Instruments (NYSE: TXN) helps customers solve problems and develop new
electronics that make the world smarter, healthier, safer, greener and more fun. A global
semiconductor company, TI innovates through manufacturing, design and sales operations
in more than 25 countries. For more information, go to www.ti.com.
STATEMENT OF OPERATIONS – SELECTED ITEMS*
(In millions, except per-share amounts)
Thomas J. Engibous
Chairman of the Board
Richard K. Templeton
President and Chief
Executive Officer