February 17, 2010 / 9:34 PM / 8 years ago

UPDATE 1-Analog Devices Q1 results top estimates

* Q1 EPS $0.43 vs est. $0.38

* Q1 rev $603 mln vs est. $575.5 mln

* Sees Q2 rev $635 mln-$650 mln vs est. $596.66 mln

* Shares up 4 pct in after-market trade

Feb 17 (Reuters) - Microchip maker Analog Devices Inc ADI.N posted stronger-than-expected quarterly results as orders continued to strengthen, and guided second-quarter revenue above Street expectations, sending its shares up 4 percent after the bell.

The company, which makes chips for cars, video game consoles and defense equipment, said its net income from continuing operations rose to $119.6 million, or 39 cents a share, from $24.6 million, or 8 cents a share, a year ago.

Excluding items, the company earned 43 cents a share. Revenue rose 27 percent to $603 million.

Analysts were expecting earnings of 38 cents per share on revenue of $575.5 million, according to Thomson Reuters I/B/E/S.

For the second quarter, the company said it expects earnings from continuing operations of about 48 cents to 51 cents per share, on revenue of $635 million to $650 million.

Analysts are projecting earnings of 41 cents per share on revenue of $596.66 million. [ID:nWNAB8432]

“Based on order rates and customer feedback, we expect revenue from industrial and communications infrastructure customers to grow in the second quarter, and revenue from consumer customers to be approximately flat,” Chief executive Jerald Fishman said.

Shares of the company were trading up 4 percent at $29.49 after the bell. They closed at $28.38 Wednesday on the New York Stock Exchange. (Reporting by Mansi Dutta in Bangalore; Editing by Anil D’Silva)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below