Norwood, MA (01/20/2009) - Analog Devices, Inc. (NYSE: ADI), a global leader in high-performance semiconductors for signal processing applications, today updated its outlook for the first quarter of fiscal 2009, ending January 31, 2009.
Revenue for the first quarter is expected to decline by approximately 25% to 30% compared to the fourth quarter of fiscal 2008, due to additional weakness in end demand and inventory reductions across the supply chain as a result of continued deterioration of global economic conditions. At the mid-point of this revised revenue outlook, ADI expects diluted earnings per share (EPS) from continuing operations to be approximately $0.15 to $0.17, excluding restructuring charges, which the company is unable to determine at this time. ADI’s previously announced outlook for the first quarter of fiscal 2009 provided on November 24, 2008, included an expected sequential revenue decline of approximately 20% and diluted EPS from continuing operations of $0.22 to $0.23, excluding restructuring charges.
The company will not hold a conference call in conjunction with today’s release, and as previously scheduled, will announce financial results for the first quarter of fiscal 2009 on Wednesday, February 18, 2009 after market close.
Innovation, performance, and excellence are the cultural pillars on which Analog Devices has built one of the longest standing, highest growth companies within the technology sector. Acknowledged industry-wide as the world leader in data conversion and signal conditioning technology, Analog Devices serves over 100,000 customers, representing virtually all types of electronic equipment. Analog Devices is headquartered in Norwood, Massachusetts, with design and manufacturing facilities throughout the world. Analog Devices is included in the S&P 500 Index. http://www.analog.com
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