Analog Devices Profit Tops Estimates

(RTTNews) - Analog Devices Inc (ADI) on Tuesday reported third-quarter net earnings of $216.5 million or $0.68 per share, compared with $180.6 million or $0.57 per share last year.

Excluding items, adjusted earnings for the quarter were $0.77 per share, compared with $0.63 per share a year ago.

On average, 24 analysts polled by Thomson Reuters estimated earnings of $0.74 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $863.4 million, compared with $727.8 million in the prior year. Twenty-five analysts had a consensus revenue estimate of $845.4 million for the quarter.

For the fourth quarter, the company expects adjusted earnings of $0.79 to $0.87 per share on revenues of $880 million to $940 million. Analysts expect earnings of $0.79 per share on revenues of $879.3 million.

The company announced a cash dividend of $0.40 per share.