Texas Instruments reported Q4 2006 revenue of $3.46 billion, down 8 percent compared with the third quarter and up 4 percent compared with the same period last year due to higher demand for the company’s semiconductor and calculator products. For the year, TI revenue grew 16 percent to a record $14.25 billion. Growth was driven primarily by strong demand for the company’s analog products, especially high-performance analog, and DSP products.
In the fourth quarter, earnings per share (EPS) from continuing operations were $0.45. This included a $0.05 EPS benefit from the reinstatement of the federal research tax credit, which was signed into law in December 2006 and was retroactive to the beginning of the year. Also, in the quarter TI signed new patent license agreements to replace agreements that had previously expired.
“TI delivered important financial achievements in 2006,” said Rich Templeton, TI president and CEO. “Specifically, our semiconductor revenue grew more than one and a half times faster than the market, our earnings per share increased almost twice as fast as our revenue, and our return on invested capital expanded to 21.5 percent. Most important to these results was our high-performance analog product line, which grew revenue 33 percent and continued to raise the bar on gross margin for the entire company.
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