-- Chipmaker Analog Devices Inc. said Wednesday its profit fell 37 percent in the fiscal first quarter as its sales dropped.
Analog Devices, based in Norwood, Mass., posted a profit of $139.4 million, or 46 cents per share, down from a year-ago profit of $222.1 million, or 70 cents per share. A year ago the company reported a one-tax time benefit of $13 million.
Revenue sank 11 percent, to $648.1 million from $728.5 million in the recent quarter.
Analysts expected the company to post a profit of 48 cents per share on revenue of $662.4 million, according to FactSet. Analog Devices' fiscal first quarter ended Feb. 4.