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TEXAS INSTRUMENTS 2009 ANNUAL REPORT
PAGE 46
Quarterly financial data
[Millions of dollars, except per-share amounts]
Quarter
2009 1st 2nd 3rd 4th
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,086 $2,457 $2,880 $3,005
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 806 1,124 1,481 1,589
Operating profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 343 763 875
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $17 $260 $538 $655
Earnings per common share:
Basic earnings per common share. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $0.01 $0.20 $0.42 $0.52
Diluted earnings per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $0.01 $0.20 $0.42 $0.52
Quarter
2008 1st 2nd 3rd 4th
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,272 $3,351 $3,387 $2,491
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,756 1,749 1,643 1,097
Operating profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 807 833 746 51
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 662 $588 $563 $107
Earnings per common share:
Basic earnings per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.50 $0.44 $0.43 $0.08
Diluted earnings per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.49 $0.44 $0.43 $0.08
Included in the results above were the following items:
Quarter
2009 1st 2nd 3rd 4th
Restructuring expense (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 105 $85 $10 $ 12
2008 1st 2nd 3rd 4th
Restructuring expense (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ — $ — $ 254
Federal research tax credit benefit (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ — $ — $ 67
(a) See Note 2 to the Financial Statements for additional information.
(b) The U.S. federal research tax credit was reinstated in October 2008 and was retroactive to the beginning of 2008.