Analog Devices Reports Q4, Fiscal-Year 2002 Results
Analog Devices Inc. (Norwood, MA) announced revenues of $456.0 million for the fourth quarter of fiscal 2002 and $1.7 billion for the fiscal-year 2002, ended November 2, 2002. Sales for the full year were $1.7 billion, a decline of 25 percent from sales of $2.3 billion in fiscal 2001. Diluted earnings per share (EPS) under generally accepted accounting principles (GAAP) were $0.28 for fiscal 2002, versus $0.93 for the prior year.
Quarterly revenues of $456.0 million increased eight percent compared to the same quarter one year ago, and increased two percent compared to the immediately prior quarter. Diluted earnings per share under GAAP were $0.09 for the fourth quarter, up from $0.06 reported for the same quarter one year ago, and up from $0.08 reported in the immediately prior quarter.
Adjusting for acquisition-related charges and other special charges, pro-forma diluted EPS were $0.16 in the fourth quarter, compared to pro-forma diluted EPS of $0.15 recorded in the third quarter. Gross margins increased sequentially by 50 basis points to 54.5 percent, and operating margins improved by 40 basis points to 15.8 percent. Pro-forma diluted EPS for fiscal-year 2002 were $0.54, compared to pro-forma diluted EPS of $1.12 for fiscal-year 2001.