Analog Devices, Inc. (NASDAQ: ADI) today reported its fourth quarter and full year financial results for the period ended October 31, 2020.
Net income for the fourth quarter was $386.5 million, or $1.04 per share, compared to net income of $277.7 million, or $0.74 per share in the fourth quarter of 2019.
Total revenues increased 6% to $1.52 billion.
“Looking ahead, our pending acquisition of Maxim Integrated is an opportunity to increase our scale and scope to deliver disruptive innovation for our customers while driving further profitable growth. The combination strengthens our industry leadership position, further diversifying our business across markets and applications and solidifying ADI as the destination for the world’s best analog talent. While the macroenvironment remains fluid, we are cautiously optimistic that a broad-based recovery is underway and expect to build on this momentum in fiscal 2021.”
Vincent Roche, President and CEO