Product category: Power Supply ICs and Controllers
News Release from: Linear Technology Corp
Edited by the Electronicstalk Editorial Team on 25 January 2005
Linear continues year-on-year growth
Linear Technology Corp reports net sales for its second quarter in excess of $250 million, an increase of 34% over the second quarter of the previous year.
Linear Technology Corp reports that net sales for its second quarter ended 2nd January 2005, were $250,121,000, an increase of 34% over net sales of $186,021,000 for the second quarter of the previous year The company also reported net income for the quarter of $102,818,000 or $0.33 diluted earnings per share, an increase of 38% from $74,335,000 or $0.23 diluted earnings per share reported for the second quarter of last year
This article was originally published on Electronicstalk on 28 Jul 2004 at 8.00am (UK)
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During the quarter, the company's cash and short-term investments increased by $27.3 million, net of spending $54.7 million to purchase 1,500,000 shares of common stock.
The company increased its quarterly dividend from $0.08 to $0.10 per share.
The payment will be made on 16th February 2005 to stockholders of record on 28th January 2005.
According to Lothar Maier, CEO: "As expected, sales and net income were slightly down from the September quarter".
"However the company continued to be cash flow positive and strongly profitable as evidenced by the 41% return on sales".
"Bookings improved slightly during the quarter, particularly late in the quarter".
"Our ending on-hand inventory at distributors is lean; cancellations are still minimal; and, lead times have remained unchanged at 4 to 6 weeks".
"These continue to be challenging times to forecast".
"Softness in bookings for semiconductor companies has resulted from both inventory corrections throughout the various sales channels and also some moderations in the rate of growth of end demand".
"Looking forward to the March quarter we do not expect further inventory reductions in the sales chain, rather bookings in the March quarter will be more reflective of true end-user consumption patterns".
"We expect end demand to be relatively stable, with bookings increasing moderately over the prior quarter".
"Consequently, we expect sequential revenues to be similar to the quarter just ended". Request free introductory details about products from Linear Technology Corp ...
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