Texas Instruments 2008 Annual Report Download - page 4

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[ 2 ] TEXAS INSTRUMENTS 2008 ANNUAL REPORT
Consolidated statements of income
[Millions of dollars, except share and per-share amounts]
For Years Ended
December 31,
2008 2007 2006
Revenue .................................................................. $12,501 $13,835 $14,255
Cost of revenue ............................................................ 6,256 6,466 6,996
Gross profit ................................................................ 6,245 7,369 7,259
Research and development .................................................... 1,940 2,140 2,195
Selling, general and administrative .............................................. 1,614 1,680 1,697
Restructuring expense ....................................................... 254 52 —
Operating profit ............................................................ 2,437 3,497 3,367
Other income (expense) net ................................................... 44 195 258
Income from continuing operations before income taxes ............................. 2,481 3,692 3,625
Provision for income taxes .................................................... 561 1,051 987
Income from continuing operations .............................................. 1,920 2,641 2,638
Income from discontinued operations, net of income taxes ............................ —16 1,703
Net income ................................................................ $1,920 $2,657 $4,341
Basic earnings per common share:
Income from continuing operations ........................................... $1.47 $1.86 $1.73
Net income ............................................................. $1.47 $1.88 $2.84
Diluted earnings per common share:
Income from continuing operations ........................................... $1.45 $1.83 $1.69
Net income ............................................................. $1.45 $1.84 $2.78
Average shares outstanding (millions):
Basic .................................................................. 1,308 1,417 1,528
Diluted ................................................................. 1,324 1,446 1,560
Cash dividends declared per share of common stock ................................ $0.41 $0.30 $0.13
See accompanying notes.