ADI delivered solid results for the third quarter. Compared to the prior quarter, revenue increased by 2%.
By end market, industrial applications totaled 47% of revenue, communications infrastructure was 21% of revenue, and automotive and consumer applications were 18% and 15% of revenue, respectively.
Results for the Third Quarter of Fiscal 2013
Revenue totaled $674 million
Gross margin was 64.5% of revenue
Operating margin was 30.9% of revenue
Cash flow from operations was $220 million, or 32.6% of revenue
“Order rates improved across all of our end markets during the third quarter, and we saw the strongest sequential revenue growth from products used in communications infrastructure applications. It appears that customer order rates were in-line with consumption, keeping inventories low,” continued Mr. Roche.
“There are signs that a gradual recovery in the macroeconomic environment is underway and we are in a strong position to benefit from the return of capital investments in communications and industrial infrastructure programs. As a result our outlook for the fourth quarter is for our sales to grow in the range of $675 million to $700 million, up from $674 million in the third quarter,” said Mr. Roche.
