Product category: Power Supply ICs and Controllers
News Release from: Linear Technology Corp
Edited by the Electronicstalk Editorial Team on 19 January 2006
Sales and profits continue upwards for
Linear
Linear Technology reports net sales for its second quarter of $265,146,000 - an increase of 6% over net sales of $250,121,000 for the second quarter of the previous year.
Linear Technology has revealed that net sales for its second quarter ended 1st January 2006 were $265,146,000 - an increase of 6% over net sales of $250,121,000 for the second quarter of the previous year The company also reported net income for the quarter of $103,264,000 or $0.33 diluted earnings per share ($112,807,000 or $0.36 pro forma excluding stock based compensation as noted below) as compared with $102,818,000 or $0.33 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 this fiscal year, the company implemented Financial Accounting Standard No 123R (FAS123R), "Share-based payments", which requires companies to estimate the cost of all forms of stock based compensation, including stock options, restricted stock and employee stock purchase plans, and record a commensurate expense in their income statement.
For Linear Technology, the total amount of stock based compensation during this quarter was $13,731,000.
Under FAS123R calculations, there was also an increase in estimated diluted shares outstanding.
Consequently, pro forma diluted earnings per share, excluding stock based compensation accounting estimates, would have been $0.36 for the quarter ended 1st January 2006 versus $0.34 on a similar basis for the prior year's quarter.
Sequentially, the company's cash and short-term investments increased by $7.1 million, net of spending $56 million to purchase 1,617,557 shares of common stock.
The company also declared a 50% increase in its dividend from $0.10 to $0.15 per share.
This cash dividend will be paid on 15th February 2006 to stockholders of record on 27th January 2006.
According to Lothar Maier, CEO: "Sales and profits for the December quarter increased both year over year and sequentially from the September quarter".
"Demand increased resulting in a positive book to bill ratio".
"Our return on sales was a strong 39%, or 43% on a pro forma basis prior to the impact of stock based compensation accounting".
"We continue to be cash flow positive and our confidence in our cash generating capabilities has enabled us to increase our quarterly cash dividend by 50%".
"Looking ahead we expect sales growth of 5 to 6% in the March quarter over the December quarter fuelled by bookings growth in industrial, communications infrastructure, networking and automotive end markets". Request free introductory details about products from Linear Technology Corp ...
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