Analog Devices Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 came to 40 cents per share, compared with the S&P Capital IQ consensus estimate of 61 cents per share.
EPS rose 15.0% year over year from 35 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $127.4 million, a gain of 14.2% from $111.6 million in the first quarter ended Feb. 1, 2014.
The normalized profit margin dropped to 16.3% from 17.8% in the year-earlier period.
Total revenue climbed 22.9% on an annual basis to $772.0 million from $628.2 million, and total operating expenses grew 25.8% from the prior-year period to $561.0 million from $445.9 million.
Reported net income grew 17.9% from the prior-year period to $179.9 million, or 57 cents per share, from $152.6 million, or 48 cents per share.
