By end market, approximately 41 percent of second quarter revenue was from industrial applications, 31 percent from communications applications, 15 percent from consumer applications, and 13 percent from computer applications.
ADI beats estimates despite drop in DSP sales
Mark LaPedus
EE Times
(05/12/2005 3:20 PM EDT)
SAN JOSE, Calif. — Despite a drop in digital signal processor (DSP) revenues, Analog Devices Inc. (ADI) reported sales of $603.7 million for its second fiscal quarter, up 4 percent from $580.5 million in the previous period but down 11 percent from $678.5 million in the like period a year ago.
The analog chip maker posted a profit of $117.6 million, or $0.31 a share, in the period, compared to $107.4 million, or $0.28 a share, in the previous period and $152.6 million, or $0.39 a share, a year ago.
ADI beat Wall Street's EPS estimates by a penny. "Our second quarter turned out to be a good quarter for ADI," said Jerald G. Fishman, president and CEO of ADI (Norwood, Mass.), in a statement. "Revenue increased sequentially in every geographic region, except China, as customer inventory declines appear to be completed after a six-month correction. Revenue increased sequentially in both the OEM and distributor channels."
By end market, approximately 41 percent of second quarter revenue was from industrial applications, 31 percent from communications applications, 15 percent from consumer applications, and 13 percent from computer applications.
DSP revenue, which was 19 percent of sales in the second quarter, declined 4 percent sequentially, "as strong sequential growth in general-purpose DSP products was offset primarily by sequential declines in wireless handsets and broadband products," according to ADI.
ADI projects that sales will be flat to up 3 percent in the third quarter. This should produce diluted EPS in the range of $0.31-to-$ 0.33 for the third quarter of fiscal year 2005. |
