How about .51 a share! Like you, Steve, I see that on a PE basis, LLTC is expensive, but I'm holding for the long term.
Mike
Linear Technology Reports Record Quarterly Sales and Profits
MILPITAS, Calif., Oct. 14 /PRNewswire/ -- Linear Technology Corporation (OTC Bulletin Board: LLTC), a leading,
independent manufacturer of high performance linear integrated circuits, today announced that net sales for its first
quarter ended September 28, 1997, were $109,802,000, an increase of 22% over net sales of $90,063,000 for the
first quarter of the previous year. The Company also reported net income for the quarter of $40,643,000 or $0.51 per
share, an increase of 30% over $31,358,000 or $0.40 per share, reported for the first quarter of last year. A cash
dividend of $0.06 will be paid on November 12, 1997 to shareholders of record on October 24, 1997.
According to Robert H. Swanson, President and CEO, ''This was a strong summer quarter for us as we achieved
record quarterly bookings, sales and profits. We grew cash by roughly $63 million and now have over $500 million in
cash and short-term investments. Demand was strong for our products, particularly in the communications and
computer end markets. This demand should help us to continue to grow in the upcoming quarter.''
Except for historical information contained herein, the matters set forth in this news release are forward-looking
statements that are dependent on certain risks and uncertainties including such factors, among others, as new orders
received and shipped during the quarter, timely ramp-up of new facilities, and the timely introduction of new processes
and products.
Linear Technology Corporation was founded in 1981 as a manufacturer of high performance linear integrated circuits.
Linear Technology products include operational, instrumentation and audio amplifiers; voltage regulators, power
management devices, DC-DC converters and voltage references; comparators; monolithic filters; communications
interface circuits; one-chip data acquisition sub-systems; pulse-width modulators and sample-and-hold devices.
Applications for Linear Technology's high performance circuits include telecommunications, cellular telephones,
networking products and satellite systems, notebook and desk top computers, computer peripherals, video/multimedia,
industrial instrumentation, factory automation, process control, and military and space systems.
For further information contact Paul Coghlan at Linear Technology Corporation, 1630 McCarthy Blvd., Milpitas,
California 95035-7417, 408-432-1900.
LINEAR TECHNOLOGY CORPORATION
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
(In thousands, except per share amounts)
Three Months Ended
(unaudited)
September 28, September 29,
1997 1996
Net sales $109,802 $ 90,063
Income before income taxes $ 60,935 $ 47,727
Provision for income taxes 20,292 16,369
Net income $ 40,643 $ 31,358
Net income per share $ 0.51 $ 0.40
Shares used in the calculation of net
income per share 80,070 77,595 |
