Analog Devices Reveals 12% Drop In Q1 Profit

(RTTNews) - Analog Devices (ADI) reported a profit for first quarter that fell compared to the same period last year.

The company said its earnings declined to $213.95 million, or $0.56 per share. This was lower than $242.37 million, or $0.63 per share, in last year's first quarter.

Analysts had expected the company to earn $0.63 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 0.3% to $769.43 million. This was down from $771.98 million last year.

Analog Devices earnings at a glance:

-Earnings (Q1): $213.95 Mln. vs. $242.37 Mln. last year. -Earnings Decline (Y-o-Y): -11.7% -EPS (Q1): $0.56 vs. $0.63 last year. -EPS Decline (Y-o-Y): -11.1% -Analysts Estimate: $0.63 -Revenue (Q1): $769.43 Mln vs. $771.98 Mln last year. -Revenue Change (Y-o-Y): -0.3%

-Guidance: Next quarter EPS guidance: $0.58 - $0.66