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Linear Technology Corporation Message Board

  • bluecheese4u bluecheese4u Jan 15, 2013 8:16 PM Flag

    LINEAR TECHNOLOGY REPORTS SEQUENTIAL QUARTERLY DECLINES, BUT MODEST YEAR OVER YEAR QUARTERLY INCREASES IN REVENUES AND NET INCOME AND GUIDES FOR SEQUENTIAL QUARTERLY IMPROVEMENT

    LINEAR TECHNOLOGY REPORTS SEQUENTIAL QUARTERLY DECLINES, BUT MODEST YEAR OVER YEAR QUARTERLY INCREASES IN REVENUES AND NET INCOME AND GUIDES FOR SEQUENTIAL QUARTERLY IMPROVEMENT.

    Milpitas, California, January 15, 2013, Linear Technology Corporation (NASDAQ:LLTC), a leading, independent
    manufacturer of high performance linear integrated circuits, today reported financial results for the fiscal quarter ended December 30,
    2012. Quarterly revenues of $305.3 million for the second quarter of fiscal year 2013 decreased $29.9 million or 8.9% from the
    previous quarter's revenue of $335.1 million and increased $10.9 million or 3.7% over $294.3 million reported in the second quarter of
    fiscal year 2012. Net income of $88.8 million decreased $16.3 million or 15.5% from the first quarter of fiscal year 2013 and
    increased $0.9 million or 1% over the second quarter of fiscal year 2012. Diluted earnings per share of $0.38 per share in the second
    quarter of fiscal year 2013 decreased $0.07 per share or 16% from the first quarter of fiscal year 2013 and was flat compared to the
    second quarter of fiscal year 2012.
    During the second quarter the Company's cash, cash equivalents and marketable securities decreased by $20.6 million to
    $1.299 billion from the first quarter of fiscal year 2013. The Company's cash, cash equivalents and marketable securities balance
    decreased primarily due to the Company accelerating the payment of its March quarterly dividend payment into the December quarter
    to benefit shareholders due to fiscal cliff tax rate uncertainties. Concurrent with the December payout, the Company's Board of
    Directors approved an increase in the Company's quarterly dividend from $0.25 per share to $0.26 per share. This marked the 21st
    consecutive year the Company has increased its dividend. At the current stock price the Company's dividend yield is approximately
    3%.
    According to Lothar Maier, CEO, “As we reported at this time last quarter, we expected a difficult second fiscal quarter given
    the tough economic climate existing domestically and globally. Revenue declined 9% compared to the preceding quarter. This was
    within our guidance, though at the low end, as bookings continued to be weak throughout the first two months of the quarter. Though
    we were disappointed in the revenue decline, we are encouraged that we saw stronger bookings momentum exiting the quarter and this
    improvement has continued through the early stage of the current quarter. Innovation is prevalent in our end markets and our product
    positioning is strong. Based upon our current bookings rate, and assuming business confidence improves, we expect to resume
    moderate revenue growth. We currently estimate that fiscal third quarter revenues will grow in the range of 1% to 4% over the second
    quarter.”
    Except for historical information contained herein, the matters set forth in this press release are forward-looking statements.
    In particular, the statements regarding the demand for our products, our customers' ordering patterns and the anticipated trends in our
    sales and profits are forward-looking statements. The forward-looking statements are dependent on certain risks and uncertainties,
    including such factors, among others, as the timing, volume and pricing of new orders received and shipped, the timely introduction of
    new processes and products, general and country specific conditions in the world economy and financial markets and other factors
    described in our 10-Q for the quarterly period ended September 30, 2012.
    Company officials will be discussing these results in greater detail in a conference call tomorrow, Wednesday, January 16,
    2013 at 8:30 a.m. Pacific Coast Time

    cdsDOTlinearDOTcom/docs/Investor/Press%20Release%20Q2%20FY13.pdf

 
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