Linear Tech Sees Trouble Dead Ahead; Stock Tumbles

October 14, 2008 at 4:01 pm PT

Linear Technology (LLTC) this afternoon warned that fourth quarter revenue could be down 10-20 percent from Q3 levels due to the downturn in the global economy.

The company posted Q3 revenue of $310.4 million, with profits of 48 cents GAAP, 53 cents non-GAAP, getting a lift from a lower-than-expected tax rate. The Street had been looking for $310.4 million and 45 cents.

But Linear also warned that orders fell sharply toward the end of the quarter, and that fourth quarter revenue is likely to slide as a result.

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Tagged with: Barrons, Eric Savitz, frontpage, global economy, Linear Technology, Tech Trader Daily

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