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Analog Devices Announces Financial Results for the Fourth Quarter and Fiscal Year 2010
- 4Q10 revenue increased 7% sequentially to $770 million
- 4Q10 diluted EPS increased 12% sequentially to $0.73
- 4Q10 gross margin was 67.0% of revenue
- 4Q10 operating margin was 37.1% of revenue
- FY10 revenue increased 37% from the prior year to $2.8 billion
- FY10 diluted EPS increased nearly three-fold from the prior year to $2.33
- Board of Directors declared a quarterly dividend of $0.22 per share
- Board of Directors authorized the repurchase of an additional $1 billion of common stock
- Financial results and 1Q11 outlook will be discussed via conference call today at 5:00 pm
NORWOOD, Mass.--(BUSINESS WIRE)--November 22, 2010--Analog Devices, Inc. (NYSE: ADI), a global leader in high-performance semiconductors for signal processing applications, today announced financial results for its fiscal fourth quarter and fiscal year ended October 30, 2010.
“The fourth quarter culminated a very strong year for ADI in which we achieved record revenue, profitability, and cash flow. For fiscal year 2010, revenue increased 37% and earnings nearly tripled,” said Jerald G. Fishman, President and CEO. “Our results reflect the benefits of a stronger market and our concerted efforts over the past few years to refocus our investments on those products and markets where ADI innovations add substantial and sustainable value, fundamentally improve our cost structure, and better align our organization with our customers and end markets.”
Results for the Fourth Quarter of Fiscal 2010
- Revenue was $770 million, an increase of 7% from the immediately prior quarter and an increase of 35% from the same period one year ago. For more information regarding revenue by end market and product type for the fourth quarter of fiscal 2010, please see Schedules D and E of this document. In addition, a more complete table covering prior periods is available on the Analog Devices Investor Relations website at: investor.analog.com.
- Gross margin was 67.0% of revenue, compared to 66.7% of revenue in the immediately prior quarter, and 56.3% of revenue in the same period one year ago.
- Operating expenses were $230 million, compared to $229 million in the immediately prior quarter, and $193 million in the same period one year ago.
- Operating income was $286 million, or 37.1% of revenue, compared to $251 million, or 34.9% of revenue, in the immediately prior quarter, and $128 million, or 22.5% of revenue, in the same period one year ago.
The following information was filed by Analog Devices Inc (ADI) on Monday, November 22, 2010 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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