Analog Devices Logs 4Q Profit, Sales Growth
By Matt Grossman
Analog Devices Inc. Tuesday posted a larger profit for the
fourth quarter as revenue rose in the company's three largest
The Norwood, Mass.-based integrated-circuit maker said its
fourth-quarter profit rose to $386.5 million, or $1.04 a share,
from $277.7 million, or 74 cents a share, in the year-ago
Adjusting for one-time items profit was $1.44 a share. Analysts
polled by FactSet had forecast an adjusted profit of $1.33 a
Revenue was $1.53 billion, up from $1.44 billion in last year's
fourth quarter. Analysts were expecting revenue of $1.45
Revenue in the company's industrial, communications and
automotive segments all rose year over year, with communications
revenue notching the largest proportional gain, a 19% improvement.
Consumer revenue declined 17% year over year to $172.6 million.
Operating expenses declined to $561.4 million, from $603.8
million in the year-ago period.
Analog Devices said it will pay a dividend of 62 cents a share
on Dec. 15.
Write to Matt Grossman at firstname.lastname@example.org
(END) Dow Jones Newswires
November 24, 2020 08:32 ET (13:32 GMT)
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