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© nikm dreamstime.com Components | November 28, 2012

9.8% revenue decrease for Analog Devices during 2012

While revenue increased by 2% in 4Q/2012 for Analog Devices, the full year revenue saw a decrease of 9.8%
“ADI delivered solid results for the fourth quarter, with revenue increasing by 2% and diluted EPS increasing by 4% compared to the prior quarter,” said Jerald G. Fishman, CEO. “For the year, revenue decreased 9.8% to about $2.7 billion, reflecting difficult economic conditions and prevailing global uncertainty. We nevertheless generated 65% gross margins, 31% operating margins and over $800 million, or 30% of revenue, in cash from operations for the year.” Results for the Fourth Quarter of Fiscal 2012
  • Revenue totaled $695 million
  • Gross margin was 63.8% of revenue
  • Operating margin was 31% of revenue
  • Cash flow from operations was $236 million, or 34% of revenue
Results for Fiscal Year 2012
  • Revenue totaled $2.7 billion
  • Gross margin was 64.5% of revenue
  • Operating margin was 30.5% of revenue
  • Cash flow from operations was $815 million, or 30% of revenue
Mr. Fishman continued, “Overall orders decreased during the quarter as customers became more cautious and continued to reduce inventories, in many cases to historically low levels. As a result, we began reducing our production levels in the fourth quarter and will reduce them further in the first quarter of fiscal 2013 to keep our inventory at appropriate levels. While this will reduce gross margins in the short term, we believe this should provide significant operating leverage when growth resumes.” Outlook for the First Quarter of Fiscal 2013
  • Revenue estimated to decrease in the range of -6% to -12%
  • Gross margin estimated to be approximately 62%
  • Operating expenses estimated to be approximately $223 million
  • Tax rate estimated to be approximately 18%
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