WASHINGTON (dpa-AFX) - Analog Devices Inc. (ADI) reported that its second-quarter net income decreased to $162.90 million or $0.53 per share, from $241.83 million or $0.78 per share in the same quarter last year. Non-GAAP earnings per share for the prior year quarter was $0.75 per share.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.51 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter declined to $675.09 million from $790.78 million in the prior year quarter. Twenty two analysts had consensus revenue estimate of $665.70 million for the quarter.
For the third-quarter, earnings per share is estimated at $0.54 to $0.58. Revenue is estimated to increase sequentially by approximately 1% to 4%. Analysts expect the company to report earnings of $0.58 per share on revenues of $698.56 million for the third-quarter.
ADI also announced that the Board of Directors has declared a cash dividend of $0.30 per outstanding share of common stock. The dividend will be paid on June 12, 2012 to all shareholders of record at the close of business on June 1, 2012.
Copyright RTT News/dpa-AFX
© 2012 AFX News
