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Analog Devices Announces Financial Results for the Fourth Quarter and Fiscal Year 2011
NORWOOD, Mass.--(BUSINESS WIRE)--November 21, 2011--Analog Devices, Inc. (NYSE: ADI):
- 4Q11 revenue was $716 million
- 4Q11 gross margin was 64.3% of revenue
- 4Q11 operating margin was 32.9% of revenue
- 4Q11 diluted EPS from continuing operations was $0.60
- 4Q11 cash flow from operations was $230 million, or 32% of revenue
- FY11 revenue increased 8% from the prior year to $3.0 billion
- FY11 diluted EPS from continuing operations increased 20% from the prior year to $2.79
- Board of Directors declared a quarterly dividend of $0.25 per share
- Financial results and 1Q12 outlook will be discussed via conference call today at 5:00 pm
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 29, 2011.
“We are very pleased with our fiscal year 2011 performance as ADI delivered record annual revenue and profitability, with revenue of approximately $3 billion, operating profit of approximately $1.1 billion, or 35.8% of revenue, and diluted EPS from continuing operations of $2.79. In addition, we generated strong free cash flow of $778 million, or 26% of revenue,” said Jerald G. Fishman, President and CEO. “In the fourth quarter, our results declined, consistent with a general slowdown in the semiconductor industry, particularly in the industrial and communications markets. Nevertheless, during this period, the consumer end market showed seasonal growth and the automotive sector continued to be strong. During the fourth quarter, we also reduced production levels, which reduced both our internal and channel inventories despite lower revenue, and resulted in lower gross margins. In addition, we took steps to reduce discretionary spending, allowing us to produce strong profitability while continuing to invest in our key strategic programs.”
Results for the Fourth Quarter of Fiscal 2011
- Revenue was $716 million, a 6% decrease from the immediately prior quarter and a 7% decrease from the same period one year ago. For more information regarding revenue by end market and product type for the fourth quarter of fiscal 2011, 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 64.3% of revenue, compared to 67.2% of revenue in the immediately prior quarter, and 67.0% of revenue in the same period one year ago.
- Operating expenses were $225 million, which includes $2.2 million of restructuring charges related to actions taken in the fourth quarter. This compares to $231 million in the immediately prior quarter and $230 million in the same period one year ago.
The following information was filed by Analog Devices Inc (ADI) on Monday, November 21, 2011 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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