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

(RTTNews) - 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.