WASHINGTON (dpa-AFX) - Analog Devices Inc.(ADI) reported that its first-quarter net income was $139.38 million or $0.46 per share, down from $222.11 million or $0.72 per share in the same quarter last year.
Non-GAAP earnings from continuing operations were $0.46 per share down from $0.66 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.48 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter declined to $648.06 million from $728.50 million in the prior year quarter. Twenty two analysts had consensus revenue estimate of $662.29 million for the quarter.
Looking ahead for the second-quarter, the company expects earnings per share to be in the range of $0.48 to $0.53, and revenue of $655 million - $675 million. Analysts expect the company to report earnings of $0.54 per share on revenues of $683.61 million for the second-quarter.
Analog Devices also announced that its Board of Directors has approved a 20 percent increase in its regular quarterly dividend to $0.30 per outstanding share of common stock. The dividend will be paid on March 28, 2012 to all shareholders of record at the close of business on March 9, 2012.
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