Product category: Power Supply ICs and Controllers
News Release from: Linear Technology Corp
Edited by the Electronicstalk Editorial Team on 01 August 2005
Linear breaks billion dollar revenue
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Linear Technology Corp has reported net revenue for its fiscal year ended 3rd July 2005 of $1,049,694,000, an increase of 30% over net revenue of $807,281,000 for the previous year.
Linear Technology Corp has reported net revenue for its fiscal year ended 3rd July 2005 of $1,049,694,000, an increase of 30% over net revenue of $807,281,000 for the previous year This revenue included $40,000,000 in royalty revenue received and previously reported in the third quarter
This article was originally published on Electronicstalk on 28 Jul 2004 at 8.00am (UK)
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The company also reported net income for the year of $433,974,000 or $1.38 diluted earnings per share, an increase of 32% from $328,171,000 or $1.02 diluted earnings per share reported for fiscal 2004.
Net sales for the fourth quarter ended 3rd July 2005 were $255,811,000, a 7% increase from net sales of $238,050,000 for the fourth quarter of the previous year.
Net income for the quarter was $106,047,000 or $0.34 diluted earnings per share, compared with $98,816,000 or $0.31 diluted earnings per share, also an increase of 7% from the fourth quarter of the previous year.
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Return on sales was 41% for both the quarter and the year.
A cash dividend of $0.10 per share will be paid on 24th August 2005 to stockholders of record on 5th August 2005.
The company generated additional cash and short-term investments of $134.4 million for the year, net of spending $257.2 million to purchase 7,032,770 shares of its common stock.
During the quarter, the company's cash and short-term investments increased by $53.8 million, net of spending $90.2 million to purchase 2,500,000 shares of its common stock.
The Board of Directors authorised the company to purchase an additional 10 million shares of its outstanding common stock in the open market over the next two years.
According to Lothar Maier, CEO: "Fiscal 2005 was a good year for us in what was generally described as a slow growth environment, and our rate of sales growth was greater than all of our major competitors, allowing us to achieve over $1 billion in revenues for the first time in the company's history".
"For the June quarter our product sales grew 2% sequentially from the prior quarter, however, the March quarter also had $40,000,000 of royalty revenue, whereas there was no royalty revenue in the June quarter".
"The September quarter that we are entering is difficult to confidently forecast".
"It is typically a slow quarter for industrial and communication business, yet typically shows growing strength in consumer oriented businesses, as the build period for year end holiday sales approaches".
"Further, while we expect our bookings to increase over the prior quarter, we enter the quarter requiring a modestly higher percentage of 'turns' business, which is orders that must be both booked and shipped in the period".
"Consequently, we currently expect sales to be similar to the quarter just completed". Request free introductory details about products from Linear Technology Corp ...
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