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Monday, November 23, 2009
Analog Devices 4Q Results Beat the Street
By Kathryn Glass
FOXBusiness
Analog Devices (ADI) gave better-than-expected guidance for the fiscal first quarter of 2010 while fiscal fourth-quarter earnings also beat analyst estimates.
For the first quarter, the company forecast earnings from continuing operations to range between 36 and 37 cents a share on flat revenue, compared to the fourth quarter of 2009.
The company saw earnings of $105.6 million, or 36 cents a share, compared to profit of $143.9 million or 49 cents a share one year ago. Analysts were expecting earnings of 26 cents a share.
Revenue fell 13% to $572 million.
The company also announced a common-stock cash dividend of 20 cents per share to be paid on December 23, to all shareholders of record as of December 4.
Shares of Analog Devices rose 46 cents or 1.67% to close at $27.94 in Monday’s session, before rising 21 cents or 0.75% in after-hours.
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