MILPITAS, Calif.--(BUSINESS WIRE)--Jan. 12, 1999--Linear
Technology Corporation (OTC-LLTC), a leading, independent manufacturer
of high performance linear integrated circuits, today announced that
net sales for its second quarter ended December 27, 1998, were
$120,020,000, an increase of 3% over net sales of $117,004,000 for the
second quarter of the previous year.
The Company also reported net income for the quarter of
$45,904,000,or $0.59 diluted earnings per share, an increase of 5%
over $43,582,000, or $0.55 per share reported for the second quarter
of last year. A cash dividend of $0.07 will be paid on February 10,
1999 to shareholders of record on January 22, 1999.
According to Robert H. Swanson, President and CEO, "This quarter
proved to be stronger than we initially expected, as the general
worldwide economic climate improved. We grew sales and profits 3%
sequentially from the previous quarter and added $35.6 million to our
cash balance. Our return on sales is an industry leading 38.2%. Orders
from our customers improved as the quarter progressed although
customers continue to be cautious and generally order only to meet
immediate needs. Given these improving business conditions, we would
expect this March quarter to be representative of our historical
growth patterns." |
