Analog Devices Reports Linear Tech 2Q Contribution

May 31, 2017 by Jeff Shepard

Analog Devices, Inc. today announced financial results for its second quarter of fiscal year 2017, which ended April 29, 2017. Results for the Second Quarter of Fiscal Year 2017 included: GAAP revenue totaled $1.1 billion, with a contribution of $147.5 million from Linear Technology; Non-GAAP revenue totaled $1.2 billion, with a $208.3 million contribution from Linear Technology; GAAP gross margin of 55.8% of revenue; Non-GAAP gross margin of 69.3% of revenue; GAAP operating margin of 12.7% of revenue; Non-GAAP operating margin of 37.9% of revenue; and GAAP diluted EPS of $0.27; Non-GAAP diluted EPS of $1.03.

"The second quarter of 2017 was a period of significant success," said Vincent Roche, President and CEO. "Business conditions during the quarter were strong, and our results were above the high end of our revised guidance range led by broad-based strength, particularly in the industrial end market. In addition, we closed the acquisition of Linear Technology Corporation and are on track with our integration activities. This acquisition creates a high-performance analog industry powerhouse, and I am confident that we are well on our way to creating tremendous value for our customers, employees, and shareholders."

"Looking ahead to the July quarter, we continue to see signs of good business conditions and are planning for revenue in the third quarter of 2017, our first full quarter with Linear Technology, to be in the range of $1.34 billion to $1.42 billion on a GAAP basis, and $1.37 billion to $1.45 billion on a non-GAAP basis."

ADI also announced that the Board of Directors has declared a quarterly cash dividend of $0.45 per outstanding share of common stock, representing an annual dividend per share of $1.80. The dividend will be paid on June 20, 2017 to all shareholders of record at the close of business on June 9, 2017.