Analog Devices sees profit fall

MICROCHIP maker Analog Devices Inc last night posted a quarterly profit that missed market expectations, hurt by a fall in revenue at its industrial and communications segments, and forecast a first quarter below Wall Street view.

For the current quarter, the company, which counts Ericsson, Nokia Siemens Networks and Motorola among its customers, said it expects a profit of 44c-51c a share. It expects revenue to be down 5%-10% sequentially.

Analysts were expecting earnings of 59 cents a share, excluding items, on revenue of $704.8 million (€522.5m), according to Thomson Reuters.

Fourth-quarter profit was $183.5m, or 60 cents a share, compared with $225m, or 73 cents a share, a year ago.

Revenue fell 7% to $716.1m.

Analysts forecast 63 cents a share in adjusted earnings on $726.9m in revenue.

* Reuters