Analog Devices Inc. said its normalized net income for the fiscal second quarter ended April 29 came to 45 cents per share, compared with the S&P Capital IQ consensus estimate of 84 cents per share.
EPS increased 6.8% year over year from 42 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $154.1 million, an increase of 18.2% from $130.4 million in the prior-year period.
The normalized profit margin fell to 13.4% from 16.7% in the year-earlier period.
Total revenue increased 47.4% on an annual basis to $1.15 billion from $778.8 million, and total operating expenses increased 51.0% year over year to $842.2 million from $557.7 million.
Reported net income declined 45.7% from the prior-year period to $93.3 million, or 27 cents per share, from $171.7 million, or 55 cents per share.
