Analog Devices: Fiscal 4Q Earnings Snapshot
NORWOOD, Mass. (AP) _ Analog Devices Inc. (ADI) on Tuesday reported fiscal fourth-quarter profit of $277.7 million.
The Norwood, Massachusetts-based company said it had net income of 74 cents per share. Earnings, adjusted for one-time gains and costs, were $1.19 per share.
The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The semiconductor maker posted revenue of $1.44 billion in the period, which also fell short of Street forecasts. Ten analysts surveyed by Zacks expected $1.45 billion.
For the year, the company reported profit of $1.36 billion, or $3.65 per share. Revenue was reported as $5.99 billion.
For the current quarter ending in February, Analog Devices expects its per-share earnings to range from 93 cents to $1.07. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.16.
The company said it expects revenue in the range of $1.25 billion to $1.35 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.41 billion.
Analog Devices shares have risen 32% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 25%. The stock has risen 27% in the last 12 months.