NORWOOD, Mass.-Analog Devices Inc. reported strong financial results for the second quarter of fiscal 2004, resulting in a cash dividend for stockholders.
The company recorded revenues of $678.5 million, up 35 percent from the same period a year ago. Net income came in at $152.6 million, more than double the year-ago period’s $71.3 million. Earnings per share reached 39 cents, also up from 19 cents per share last year.
ADI said it will pay a cash dividend of 6 cents per outstanding share of common stock June 16 to stockholders of record as of May 28.
“In the second quarter, we saw growth across each of the major end markets we serve,” said Jerald Fishman, president and chief executive officer. “The highest growth came from consumer electronics and from the industrial market. … We also saw good revenue growth from the communications and computer markets.”
ADI said it expects revenue to continue to grow, reaching between $725 million to $745 million in the third quarter, bringing earnings per share to between 43 cents and 45 cents.
Shares of ADI were trading up at $46.66 following the earnings news.
