Plus   Neg

Analog Devices Guides Q2 In Line With Estimates, Declares Dividend - Quick Facts

While reporting financial results for the first quarter fiscal 2020 on Wednesday, analog technology company Analog Devices Inc. (ADI) provided earnings and revenue guidance for the second quarter.

For the second quarter, the company projects earnings in a range of $0.65 to $0.81 per share and adjusted earnings in a range of $1.02 to $1.18 per share on projected revenues between $1.30 billion and $1.40 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.13 per share on revenues of $1.38 billion for the quarter. Analysts' estimates typically exclude special items.

While the effects of the coronavirus are difficult to estimate and the situation remains dynamic, the company has reduced its revenue guidance by $70 million to account for its potential impact.

"Encouragingly, demand across our end markets has stabilized and is beginning to show signs of improvement as we enter our fiscal second quarter," said Vincent Roche, President and CEO.

The company's Board of Directors also declared a quarterly cash dividend of $0.62 per outstanding share of common stock, payable on March 10, 2020 to all shareholders of record at the close of business on February 28, 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Video streaming giant Netflix said it will donate 1 million euros to Audiens, the social protection group of the French cultural sector, to help launch a COVID-19 emergency relief fund to support workers in the French television and cinema industry. Netflix and Audiens said they have created the new COVID-19 Film and TV Emergency Relief Fund to help the hardest hit workers in the industry. Major U.S. retail container ports are estimated to report a five-year low for imports in March as consumer demand has been impacted with millions of Americans out of work amid the coronavirus (COVID-19) outbreak, according to a report by the National Retail Federation or NRF. The U.S. Food and Drug Administration has issued warning letters to three sellers of fraudulent COVID-19 products. There are currently no approved preventatives or treatments for COVID-19, the FDA said in a statement.
Follow RTT