NORWOOD, Mass. -- Analog Devices Inc. today reported revenues of $772 million for the first quarter of fiscal 2001, up 58% in the like period a year ago.
ADI matched the expectations of analysts by reporting earnings per share of $0.50, double the $0.25 per share reported for the year-ago quarter.
"Our first-quarter revenues were in line with the revised expectations we communicated on January 17," said Jerald G. Fishman, president and chief executive.
In the next current, however, ADI is bracing for the worst. "We are currently planning for second-quarter revenues to be in the range of $710-to-$725 million, or down about 6-to-8% sequentially and up 22-to-25% from last year's second quarter," he said.
"Approximately half of this decline is expected to come from a significant reduction in sales to ATE customers. We believe that at this sales level earnings per share could be about $0.43 to $0.44," he said.
