Linear Technology Corp. (LTC, Milpitas, CA) reported that net sales rose by double digits year-over-year, but declined slightly from the previous sequential quarter. Sales for the fiscal second quarter climbed to $250.1 million, a 34% increase over the $186.0 million reported for the same quarter a year ago.
Linear posted net income for the second quarter of $102.8 million, or $0.33 per diluted share, a 38% increase from the same period a year ago, which came in at $74.3 million, or $0.23 per diluted share. Also during the second quarter, Linear's cash and short-term investments increased by $27.3 million, net of spending $54.7 million, to repurchase 1.5 million shares of common stock. In addition, Linear increased its quarterly dividend from $0.08 to $0.10 per share.
