News Article
Analog Devices End of Year 2011 Show Revenue Up 8%
Analog Devices, Inc. (NYSE: ADI), has announced financial results for its fiscal fourth quarter and fiscal year ended October 29, 2011.
"¢4Q11 revenue was $716 million
"¢4Q11 gross margin was 64.3% of revenue
"¢4Q11 operating margin was 32.9% of revenue
"¢4Q11 diluted EPS from continuing operations was $0.60
"¢4Q11 cash flow from operations was $230 million, or 32% of revenue
"¢FY11 revenue increased 8% from the prior year to $3.0 billion
"¢FY11 diluted EPS from continuing operations increased 20% from the prior year to $2.79
"¢Board of Directors declared a quarterly dividend of $0.25 per share
"¢Financial results and 1Q12 outlook will be discussed via conference call today at 5:00 pm
"We are very pleased with our fiscal year 2011 performance as ADI delivered record annual revenue and profitability, with revenue of approximately $3 billion, operating profit of approximately $1.1 billion, or 35.8% of revenue, and diluted EPS from continuing operations of $2.79. In addition, we generated strong free cash flow of $778 million, or 26% of revenue," said Jerald G. Fishman, President and CEO. "In the fourth quarter, our results declined, consistent with a general slowdown in the semiconductor industry, particularly in the industrial and communications markets. Nevertheless, during this period, the consumer end market showed seasonal growth and the automotive sector continued to be strong. During the fourth quarter, we also reduced production levels, which reduced both our internal and channel inventories despite lower revenue, and resulted in lower gross margins. In addition, we took steps to reduce discretionary spending, allowing us to produce strong profitability while continuing to invest in our key strategic programs."
