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Analog Devices profit misses consensus by 31.4% in fiscal Q3


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Analog Devices profit misses consensus by 31.4% in fiscal Q3

Analog Devices Inc. said its normalized net income for the fiscal third quarter ended Aug. 1 amounted to 51 cents per share, compared with the S&P Capital IQ consensus estimate of 74 cents per share.

EPS climbed 31.7% year over year from 39 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $162.2 million, a gain of 31.5% from $123.4 million in the prior-year period.

The normalized profit margin increased to 18.8% from 17.0% in the year-earlier period.

Total revenue grew 18.6% on an annual basis to $863.4 million from $727.8 million, and total operating expenses climbed 13.9% year over year to $598.1 million from $525.2 million.

Reported net income increased 19.0% year over year to $216.4 million, or 68 cents per share, from $181.8 million, or 57 cents per share.