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Analog Devices profit misses consensus by 21.6% in fiscal Q1

Analog Devices Inc. said its normalized net income for the fiscal first quarter ended Jan. 28 came to 58 cents per share, compared with the S&P Capital IQ consensus estimate of 74 cents per share.

EPS climbed 60.5% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $181.8 million, an increase of 59.7% from $113.9 million in the prior-year period.

The normalized profit margin climbed to 18.5% from 14.8% in the year-earlier period.

Total revenue climbed 27.9% on an annual basis to $984.4 million from $769.4 million, and total operating expenses increased 15.0% from the prior-year period to $660.6 million from $574.4 million.

Reported net income rose 32.0% from the prior-year period to $216.0 million, or 69 cents per share, from $163.7 million, or 52 cents per share.