MILPITAS, Calif. (AP) -- Linear Technology Corp. said Tuesday that its fiscal second-quarter revenue and net income fell, but the circuit maker's shares rose in after-hours trading on encouraging trends for the future.
The company, based in Miliptas, Calif., reported after the market closed that it earned $87.9 million, or 38 cents per share, for the quarter that ended Jan. 1. That's down 39 percent from $143.7 million, or 62 cents per share, in the same quarter a year earlier.
The quarter included costs of $3.2 million, or 1 cent per share, for its acquisition of Dust Networks, a wireless sensor network company.
Linear's revenue fell 23 percent to $294.3 million from $383.6 million.
Analysts polled by FactSet were anticipating 39 cents per share on revenue of $292.6 million for the period.
Linear CEO Lothar Maier said it was an encouraging quarter in a challenging business environment.
The company's booking strengthened in December and January and based on these trends, it expects revenue to improve 4 to 8 percent from the second to the third quarter. That would equate to revenue of $306.1 million to $317.9 million for the third quarter. Analysts anticipate the company will generate revenue of $301.5 million for the period, on average.
"We believe that we are at an inflection point in our business," Maier said in a statement.
Linear Technology also said its board approved an increase of a penny, or 4 percent, in its quarterly dividend, to 25 cents. The dividend is payable Feb. 29 to shareholders of record Feb. 17.
Shares of the company rose $2.33, or nearly 8 percent, to $32.20 in after-hours trading. The company's shares fell 19 cents to close at $29.87 during regular trading.
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