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Technology Stocks : ADI: The SHARCs are circling! -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (2851)	2/11/2005 1:07:22 PM
From: Jim Oravetz	Read Replies (1) \| Respond to of 2882

Analog Devices 1Q Sales $580.5M Vs $605.4M, -4.1% DOW JONES NEWSWIRES February 10, 2005 4:00 p.m. Analysts surveyed: 26 First Call EPS estimates can reflect either net income, operating income or funds from operations. The company's earnings figure is on a diluted basis. First Call assumes earnings estimates from analysts are on a diluted basis. NORWOOD, Mass. -- Analog Devices Inc.'s (ADI) fiscal first-quarter earnings declined 8%, despite improving order patterns, as sales slid 4.1%. The semiconductor company also forecast second-quarter per-share earnings below year-ago levels, but sequential revenue growth for the period. In a press release Thursday, the chip maker said it earned $107.4 million, or 28 a share, for the quarter ended Jan. 29, down from $116.8 million, or 30 cents a share, a year ago. In November, the maker of integrated circuits forecast first-quarter earnings of 28 cents to 31 cents a share. Sales for the fiscal quarter fell to $580.5 million from $605.4 million a year ago. A sequential decline in revenue was isolated to semiconductor automatic test equipment and wireless handset applications, the company said. Wall Street analysts, on average, expected a profit of 29 cents a share for the quarter on revenue of $586.6 million, according to Thomson First Call. Corrected Feb. 10, 2005 16:49 ET (21:49 GMT) Analog Devices said order patterns improved during the first quarter compared with the prior two quarters. In addition, the company believes that the application areas which drove most of the revenue decline in the past two quarters are now at revenue levels that are unlikely to decline further this year. Order rates increased in January, and this momentum has continued into early February. The company anticipates second-quarter revenue will increase sequentially by 2% to 6%, suggesting revenue of $592.1 million to $615.4 million. It also expects per-share earnings of 29 cents to 31 cents for the fiscal second quarter. Wall Street forecasts a profit of 32 cents a share for the quarter ending in April, on revenue of $613.2 million. In the year-ago second quarter ended May 1, the company earned 39 cents a share, on sales of $678.5 million. New York Stock Exchange-listed shares of Analog Devices closed Thursday at $36.83, down 35 cents, or 0.9%. The semiconductor company's conference call began at 4:30 p.m. EST. Corrected Feb. 10, 2005 16:48 ET (21:48 GMT) Analog Devices Inc. - Norwood, Mass. 1st Quar Jan. 29: 2004 2003 Sales $580,536,000 $605,353,000 Net income 107,443,000 116,839,000 Avg shrs (diluted) 388,107,000 392,904,000 Shr earns Net income .28 .30 -Jenny Park; Dow Jones Newswires; 201-938-5400; AskNewswires@dowjones.com Analog Devices Inc.'s (ADI) fiscal first-quarter earnings declined 8%, despite improving order patterns.