Analog Devices Q4 Profit Decreases, but beats estimates

(RTTNews) - Analog Devices (ADI) released earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $498.43 million, or $1.00 per share. This compares with $936.23 million, or $1.82 per share, in last year's fourth quarter.

Excluding items, Analog Devices reported adjusted earnings of $2.01 per share for the period.

Analysts on average had expected the company to earn $2.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.3% to $2.72 billion from $3.25 billion last year.

Analog Devices earnings at a glance (GAAP) :

-Earnings (Q4): $498.43 Mln. vs. $936.23 Mln. last year. -EPS (Q4): $1.00 vs. $1.82 last year. -Analyst Estimates: $2.00 -Revenue (Q4): $2.72 Bln vs. $3.25 Bln last year.

-Guidance: Next quarter EPS guidance: $1.60 - $1.80 Next quarter revenue guidance: $2.4 - $2.6 Bln