Analog Devices Profit Down, But Better Than Consensus

(RTTNews) - Analog Devices, Inc. (ADI) on Tuesday reported net income of $75.69 million or $0.16 per share in the fourth quarter, lower than $386.53 million or $1.04 per share in the same quarter a year ago, hurt by higher expenses.

However, excluding one-time items, earnings were $1.73 per share, that beat the average estimate of nineteen analysts polled by Thomson Reuter at $1.7 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter also increased to $2.339 billion from $1.526 billion last year. The consensus estimate was for $2.31 billion

Looking forward to the first quarter, revenue is expected to be $2.60 billion , +/- $100 million and and adjusted EPS to be $1.78, +/- $0.10. Analyst see earnings of $1.7 per share on revenue of $2.49 billion for the quarter.

Further, the ADI Board declared a quarterly dividend of $0.69 per share, to be paid on December 14, to shareholders of record on December 3.

ADI shares closed on Monday at 185.50, down 3.30 or 1.75%. The stock is down 0.27% in pre-market.