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Analog Devices Reports First Quarter Fiscal 2019 Results with Revenue and EPS at the High-End of Guidance
- Revenue of $1.54 billion led by strong growth in the communications market
- Operating Cash Flow of $2.4 billion and Free Cash Flow of $2.1 billion on a trailing twelve months basis
- Returned over $400 million to shareholders in the first quarter through dividends and share repurchases
- Increased quarterly dividend by 12.5% and updated dividend growth target to 7% to 15% annually
NORWOOD, Mass.--(BUSINESS WIRE)--February 20, 2019--Analog Devices, Inc. (Nasdaq: ADI), a leading global high-performance analog technology company, today announced financial results for its first quarter of fiscal 2019, which ended February 2, 2019.
“In what is a challenging macroeconomic environment, the diversity and strong execution of our franchise continued to deliver outstanding financial results for the first quarter,” said Vincent Roche, President and CEO. “Revenue came in at the high-end of our guidance with continued strength in our communications market related to ongoing 4G upgrades and initial 5G deployments. Further, we returned more than $400 million of cash to our shareholders this quarter through share repurchases, which reduced our overall share count, and dividends.”
“In the near term, we continue to execute soundly despite the uncertain macroenvironment. That said, I have never been more confident or excited about the future of ADI’s franchise. Our ethos of innovation combined with deep customer engagements and our alignment with favorable macro trends positions us to continue to take share, expand our addressable market, and deliver strong returns for our shareholders.”
The following information was filed by Analog Devices Inc (ADI) on Wednesday, February 20, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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