Analog Devices Inc. (ADI: Quote) reported that its third-quarter net income was $169.77 million or $0.56 per share, compared to $219.94 million or $0.71 per share in the same quarter last year.
On average, 24 analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter declined to $683.03 million from $757.90 million in the prior year quarter, while twenty two analysts had consensus revenue estimate of $692.06 million for the quarter.
For the fourth-quarter, the company expects earnings per share to be in the range of $0.54 to $0.60 and revenue of $685 million to $715 million. Analysts expect the company to report earnings of $0.60 per share on revenues of $714.60 million for the fourth-quarter.
Further, ADI also announced that the Board of Directors has declared a cash dividend of $0.30 per outstanding share of common stock. The dividend will be paid on September 12, 2012 to all shareholders of record at the close of business on August 31, 2012.
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by RTT Staff Writer
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