— Analog Devices Inc. (NASDAQ: ADI) reported adjusted earnings of $1.03 per share for the first quarter of 2020, compared to $1.33 per share last year, vs. $1.00 per share expected.
— Net income was $203.87 million or $0.55 per share, compared to $355 million or $0.95 per share in the first quarter of 2019
— Revenues decreased to $1.30 billion in the January-quarter from $1.54 billion in the prior-year period, vs. $1.3 billion expected
— Returned around $300 million to shareholders during the quarter, through dividends and share repurchases
— Increased quarterly dividend by 15%, which is at the high-end of the company’s target range of 7-15%
— Expects revenues to be around $1.35 billion in the second quarter of fiscal 2020, which is slightly lower than the prior estimate
— Second-quarter operating margins, on an unadjusted basis, are expected to be 26.0% +/-150 bps
— Looking for unadjusted earnings per share of $0.73 +/-$0.08, and adjusted earnings per share of $1.10 +/-$0.08, for the second quarter
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