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Analog Devices, Inc. Message Board

  • bluecheese4u bluecheese4u Nov 27, 2012 8:11 PM Flag

    Analog Devices Reports Fourth Quarter and Fiscal Year 2012 Results

    Analog Devices Reports Fourth Quarter and Fiscal Year 2012 Results

    November 27, 2012

    NORWOOD, Mass.--(BUSINESS WIRE)-- Analog Devices, Inc. (NASDAQ: ADI), a global leader in high-performance semiconductors for signal processing applications, today announced financial results for its fiscal fourth quarter and fiscal year ended November 3, 2012.

    "ADI delivered solid results for the fourth quarter, with revenue increasing by 2% and diluted EPS increasing by 4% compared to the prior quarter," said Jerald G. Fishman, CEO. "For the year, revenue decreased 9.8% to about $2.7 billion, reflecting difficult economic conditions and prevailing global uncertainty. We nevertheless generated 65% gross margins, 31% operating margins and over $800 million, or 30% of revenue, in cash from operations for the year."

    Mr. Fishman continued, "Overall orders decreased during the quarter as customers became more cautious and continued to reduce inventories, in many cases to historically low levels. As a result, we began reducing our production levels in the fourth quarter and will reduce them further in the first quarter of fiscal 2013 to keep our inventory at appropriate levels. While this will reduce gross margins in the short term, we believe this should provide significant operating leverage when growth resumes."

    ADI also announced that the Board of Directors has declared a cash dividend of $0.30 per outstanding share of common stock. The dividend will be paid on December 18, 2012 to all shareholders of record at the close of business on December 7, 2012.

    Results for the Fourth Quarter of Fiscal 2012
    • Revenue totaled $695 million
    • Gross margin was 63.8% of revenue
    • Operating margin was 31% of revenue
    • Diluted EPS was $0.58
    • Cash flow from operations was $236 million, or 34% of revenue

    Results for Fiscal Year 2012
    • Revenue totaled $2.7 billion
    • Gross margin was 64.5% of revenue
    • Operating margin was 30.5% of revenue
    • Diluted EPS was $2.13
    • Cash flow from operations was $815 million, or 30% of revenue
    • Repurchases of common stock and dividend payments to shareholders totaled $505 million

    investorDOTanalogDOTcom/releasedetail.cfm?ReleaseID=723486

 
ADI
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