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   Date: 19th May 2010

Analog Devices is into super growth mode

Analog Devices has reported revenue of $668 million in its fiscal 2nd quarter 2010 ending May 1 2010, a sequential growth of 11%. In this period its gross margin increased to 65.0% of revenue and operating margin increased to 32.0% of revenue. This is clear indication that all is well for analog semiconductor market.

"The second quarter was one of the best quarters in ADI's history. Revenue increased by 41% year-over-year and 11% sequentially, gross margin rose to 65% of revenue and operating margin increased to 32% of revenue," said Jerald G. Fishman, President and CEO. "We have substantially grown our revenue in line with a sharpened strategic focus, while fundamentally and significantly improving our operating margin structure."

Analog Devices stated operating expenses were $220 million, compared to $219 million in the immediately prior quarter, and $204 million in the same period a year ago.

Regarding the outlook for the third quarter of fiscal 2010, Mr. Fishman stated, "Looking ahead to the third quarter, given our higher opening backlog, we are expecting fairly broad-based revenue growth. We are currently planning for revenue to be in the range of $695 million to $715 million for the third quarter. We are planning for gross margins to be in the range of 65% to 66%. We expect that operating expenses will grow, but well below revenue growth. As a result, we anticipate that operating margins will expand to 33% to 34% and earnings per share should be in the range of $0.59 to $0.61."

Analog Devices has recently expanded its Indian office with bigger space to house more design engineers.

          
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