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Linear Technology Reports Another Quarter of Record Sales and Profits.
MILPITAS, Calif., April 14 /PRNewswire/ -- Linear Technology Corporation (OTC: LLTC - news), a leading independent manufacturer of high performance linear integrated circuits, today announced that net sales for its third quarter ended March 29, 1998, were $125,982,000, an increase of 33% over net sales of $95,033,000 for the third quarter of the previous year. The Company also reported record net income for the quarter of $47,174,000 or $0.59 diluted earnings per share, an increase of 39% from $33,980,000 or $0.43 diluted earnings per share, reported for the third quarter of last year. A cash dividend of $0.06 will be paid on May 13, 1998 to shareholders of record on April 24, 1998.
According to Robert H. Swanson, President and CEO, ''This was a good March quarter for us as we achieved strong quarterly financial performance culminating in record return on sales of 37.4%. We grew cash by roughly $55 million and now have $567 million in cash and short-term investments. Sales increased in each of our major end markets, industrial, communications and computer with communications being the strongest. Recent difficulties experienced by some technology companies regarding slowing demand in Asia and in computer markets worldwide have us cautiously\003 going forward. However our product, geographic and end-market diversity and our good March quarter performance should enable continued sequential sales and profits growth in the upcoming June quarter.'' |
