ADI's Q4 sales fall 7% over Q3, but expects 3-5% jump in Q1
Semiconductor Business News
(02/14/02 17:48 p.m. EST)
siliconstrategies.com
NORWOOD, Mass. -- Analog Devices Inc. today announced revenues of $393 million for the first quarter of fiscal 2002, ended Feb. 2, down 49% from the like period a year ago and 7% below the prior period.
The chip maker also posted a profit of $24.7 million, or $0.06 a share, in the quarter, compared to a net of $190.4 million, or $0.50 a share, a year ago. It reported a profit of $24.2 million, or $0.06 a share, in the prior quarter.
"Inventory overhang and lackluster end market demand continued to have an adverse impact on our revenues during the first quarter," said Jerald G. Fishman, president and CEO of ADI. "Our analog revenues declined sequentially, while our DSP revenues showed a sequential increase for the first time in four quarters. Analog revenues comprised 77% of the first quarter's revenues," he said.
The company expects some improvement in the current quarter. "Although it is still difficult to offer precise near-term guidance, given our much-improved order patterns and a full 13-week second quarter, we believe both revenues and profits could show sequential gains in the second quarter," he said. "We currently anticipate a 3-to-5% sequential revenue increase, with sequential growth in both our analog and DSP businesses. At that level of revenue, we would expect pro forma EPS of $0.12 to $0.13." |
