Analog Devices Reports Second Quarter Fiscal 2020 Results
•Revenue of $1.32 billion increased sequentially
•B2B revenue increased 3% sequentially led by the communication and industrial sectors
•Operating cash flow of $2.0 billion and free cash flow of $1.8 billion on a trailing twelve month basis
•Returned over $340 million to shareholders in the second quarter through dividends and share repurchases
NORWOOD, Mass.--(BUSINESS WIRE)--May 20, 2020--Analog Devices, Inc. (Nasdaq: ADI), a leading global high-performance analog technology company, today announced financial results for its second quarter of fiscal 2020, which ended May 2, 2020.
“During this unprecedented time, ADI has moved with speed and agility to pivot our supply chain and meet customer demand, expediting production and shipments of essential products, including solutions used in medical equipment in the fight against COVID-19. I’m proud of the way our team has adapted, demonstrating determination, resilience and unity in the face of this pandemic,” said Vincent Roche, President and CEO of Analog Devices. “Our diversification across customers, applications, and markets is mitigating weaker global business activity. This enabled us to deliver second quarter results within our original guidance range and generate solid free cash flow, underscoring the strength and flexibility of our business model in any economic backdrop.”
Roche continued, “Looking forward, we remain focused on pushing the limits of innovation to develop leading edge solutions that deliver maximum impact for our customers. I am confident that ADI is well positioned to accelerate in the recovery phase and deliver value for all stakeholders as we continue to solve the toughest engineering challenges of today and tomorrow.”
The following information was filed by Analog Devices Inc (ADI) on Wednesday, May 20, 2020 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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Ticker: ADI CIK: 6281 Form Type: 10-Q Quarterly Report Accession Number: 0000006281-20-000087 Submitted to the SEC: Wed May 20 2020 11:20:35 AM EST Accepted by the SEC: Wed May 20 2020 Period: Saturday, May 2, 2020 Industry: Semiconductors And Related Devices