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Analog Devices profit misses consensus by 32.4% in fiscal Q2

Analog Devices Inc. said its normalized net income for the fiscal second quarter ended May 2 amounted to 49 cents per share, compared with the S&P Capital IQ consensus estimate of 72 cents per share.

EPS rose 14.2% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $154.5 million, a gain of 13.7% from $135.9 million in the prior-year period.

The normalized profit margin fell to 18.7% from 19.6% in the year-earlier period.

Total revenue increased 18.2% on an annual basis to $821.0 million from $694.5 million, and total operating expenses climbed 20.2% from the prior-year period to $570.0 million from $474.1 million.

Reported net income increased 9.7% from the prior-year period to $206.1 million, or 65 cents per share, from $187.8 million, or 59 cents per share.