ADI: The SHARCs are circling! Message Board

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Technology Stocks : ADI: The SHARCs are circling!

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To: Jim Oravetz who wrote (2855)	8/3/2005 12:37:28 PM
From: Jim Oravetz	Read Replies (1) of 2882

Analog Devices Provides Preliminary Results For 3Q Of Fiscal 2005 DOW JONES NEWSWIRES August 2, 2005 5:57 p.m. NORWOOD, Mass. (Dow Jones)--Analog Devices Inc. puts its fiscal third-quarter earnings at the low end of a prior forecast, blaming weakness in chipsets sales to Asian handset makers who "continue to struggle against increased global competition." The maker of integrated circuits expects to earn 31 cents for the quarter ended July 30, missing a Thomson First Call profit estimate of 33 cents a share. In May, Analog Devices had predicted earnings of 31 cents to 33 cents a share. Revenue is now pegged at $580 million to $585 million for the quarter, down 3% to 4% from the second quarter. This estimate falls short of a prior outlook for flat to 3% sequential growth and misses Wall Street's projection of $617.2 million. Analog Devices' stock slipped 5% after hours and recently changed hands at $38.70, according to Inet. The shares finished the regular session up 4.2% at $40.72. Analog Devices expects wireless handsets revenue to begin to recover as handset makers begin to make more feature-rich phones this fall. Wireless handsets represented about 10% of third-quarter revenue. Most other application areas performed largely according to the company's third-quarter plan. Revenue from computer and consumer customers rose from the second quarter, and the industrial end markets grew sequentially with strength in broad-based industrial products offset by declines in automatic test equipment and automotive. In the year-ago third quarter, Analog Devices earned 43 cents a share on revenue of $717.8 million. The company said order rates increased in the third quarter from the second quarter and were "very strong" in July. As a result, backlog was higher at the start of fourth quarter compared with the beginning of the third quarter. Analog Devices said it continues to believe that it is in a gradual recovery that began six months ago. Analog Devices expects to report earnings on August 11 at 4 p.m. EDT.

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