Analog Devices (ADI) this afternoon reported revenue for its fiscal second quarter ended May 1 of $668 million, up 11% sequentially and 41% from a year ago, and ahead of the Street at $664 million. EPS of 55 cents a share beat the Street by a nickel. The chip company also boosted its quarterly dividend by 10% to 22 cents, from 20 cents.
CEO Jerald Fishman said in a statement that it was “one of the best quarters in ADI’s history.”
For Q2, the company sees revenue of $695 million to $715 million, and profits of 59-61 cents a share; that beats the old Street consensus of $658 million and 52 cents.
ADI in late trading is up 52 cents, or 1.9%, to $28.12.
Update: CFO David Zinsner notes that the company’s industrial segment revenues were up 54% year over year and 20% sequentially; automotive was up 105% versus last year and 14% sequentially. Consumer was up 45% from a year ago, and 2% sequentially. Less strong was the communications segment, which was was down 1% from a year ago, and off 2% sequentially.
No comments:
Post a Comment