Analog profits down

Analog Devices last night reported its fourth-quarter net income was $179.19m (€138.48m) or $0.58 per share, compared to $183.53m or $0.60 per share in the comparable quarter last year.

On average, 25 analysts polled expected the company to report earnings of $0.57 per share for the quarter. Analysts’ estimates typically exclude special items.

Revenues for the quarter declined to $694.96m from $716.13m in the prior year quarter, while 23 analysts had consensus revenue estimate of $696.98m for the quarter.

Looking ahead to the first-quarter, the company expects earnings per share to be in the range of $0.40 to $0.48 and revenue to decrease in the range of -6% to -12%.

Analysts expect the company to report earnings of $0.54 per share on revenues of $683.24m for Q1.