Analog Devices: FY Q4 Revenues, EPS Top Estimates
Analog Devices (ADI) this afternoon posted solid results for its fiscal first quarter ended Nov. 1, but also provided guidance for the January quarter that was well short of Street expectations.
For Q4, the company posted revenue of $661 million and profits of 49 cents a share; that beat the Street consensus at $655.1 million and 44 cents.
However, Analog Devices also said that it expects revenues for its fiscal Q1 ending in January to be down 20 percent sequentially; that would imply revenue of $528.8 million, well below the Street at $600.5 million. The company sees profits for the quarter of 22-23 cents a share, sharply lower than the Street at 35 cents. ADI said that it expects gross margin for the January quarter of 57-58 percent, down from 61.1 percent in the latest quarter.
