ADI reports 6% q-o-q sequential revenue growth in its fiscal 2nd Q 2013
Analog Devices has reported a revenue of $659 Million in its second quarter of fiscal year 2013, which ended May 4, 2013, quarter-over-quarter growth of near 6% compared to its previous quarter revenue of $622.1 Million. However it is still $16 Million less than its same quarter of previous fiscal year of 2012, where ADI reported a revenue of $675 Million in 2nd Quarter of its fiscal 2012.
“We had a solid second quarter led by strong sequential revenue growth from industrial and automotive applications,” said Vincent Roche, President and CEO. “Excluding special items, operating margins expanded 300 basis points compared to the prior quarter and diluted earnings per share grew three times faster than revenue over the same period, demonstrating the strength of our operating model.”
“Orders were higher in the second quarter compared to the prior quarter, but customers remain cautious given the uncertain macroeconomic environment. As a result, our outlook for the third quarter is for revenue to be approximately flat to up 4%,” continued Mr. Roche. “We are planning for margins to expand as factory utilization improves and for expenses to remain under tight control, which we believe will generate good earnings leverage and strong free cash flow.”
ADI estimated a revenue for its 3rd Quarter 2013 in the range of $655 to $685 million.