Analog Devices ends its fiscal year 2020 on a high

During the last quarter of a year that’s been anything but normal, Analog Devices recorded a 6% YoY revenue increase from USD 1.44 billion in 2019, to 1.53 for the closing quarter of the current year. Operating income during the fourth quarter of 2020 amounted to USD 462 million, an increase from USD 338 million during the same period last year. The company closed the year with a forth quarter net income of USD 386 million, up from USD 277 a year ago. For the full year of 2020 the company recoded revenues of USD 5.60 billion, down from 2019’s USD 5.99 billion. Operating income amounted to USD 1.49 billion for the full year of 2020, compared to USD 1.71 billion for 2019. Full year 2020 Net income ended up at USD 1.22 billion, down from USD 1.36 billion during the last full fiscal year. “ADI delivered fourth quarter results above the high-end of our outlook. We grew revenue across all of our B2B markets, expanded operating margins and increased EPS by double-digits year-over-year,” said Vincent Roche, President and CEO of Analog Devices, in the company’s fiscal report. “Fiscal 2020 represented a year of strategic progress against an unprecedented backdrop, and our results continue to highlight the insatiable demand for our high-performance analog and mixed signal solutions. Overall, I’m proud of how our global team embraced and learned from this challenging time and continued to execute at a high level to generate and capture value for all stakeholders,” Roche adds. Roche continues saying that the company’s pending acquisition of Maxim will provide an opportunity to increase the company’s scale and scope to deliver disruptive technology for its customers while driving further profitable growth. The CEO believes that “the combination strengthens our industry leadership position, further diversifying our business across markets and applications.” The CEO ends by stating that the company is cautiously optimistic that a broad-based recovery is underway and expect to build on this momentum in fiscal 2021. For the first quarter of fiscal 2021, ADI is forecasting revenue of USD 1.50 billion, give or take USD 70 million.