Categories Earnings, Technology

Analog Devices misses Q4 estimates

Analog Devices Inc. (NASDAQ: ADI) missed revenue and earnings estimates for the fourth quarter of 2019, causing shares to fall over 2% in premarket hours on Tuesday.  

The company reported a 6% year-over-year decline in total revenues to $1.44 billion, which also fell below the consensus target of $1.45 billion.

Analog Devices misses Q4 2019 revenue and earnings estimates

Net income was $277 million, or $0.74 per share, compared to $404 million, or $1.08 per share, in the same period last year. Adjusted EPS declined 20% year-over-year to $1.19, missing forecasts of $1.22.

Vincent Roche, President and CEO, stated, “ADI delivered solid fourth quarter and full-year results amidst continued trade and macro uncertainty. Over the course of the year, we generated revenue of $6 billion and effectively managed costs, while continuing to prioritize strategic investments to drive innovation.”

During the quarter, revenues in the Industrial segment remained flat at $744 million compared to the same period last year. Revenues declined across all the remaining three segments.  

Also read: Analog Devices Q4 Earnings Preview

For the first quarter of fiscal 2020, the company expects revenue of $1.30 billion, plus or minus $50 million. Reported EPS is expected to be $0.61, plus or minus $0.07, and adjusted EPS to be $1.00, plus or minus $0.07.

The Board of Directors declared a cash dividend of $0.54 per common share, payable on December 17, 2019 to all shareholders of record as of December 6, 2019.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Stitch Fix (SFIX) Stock: Will the innovative biz model survive virus-led slump?

The business world is still struggling to come out of the virus-induced slowdown, but it seems almost every retail segment benefited from the pandemic at some point. The vaccination drive

General Mills (GIS): Three factors that are expected to help drive growth for the food company going forward

Shares of General Mills Inc. (NYSE: GIS) were up 3.2% on Wednesday after the company delivered better-than-expected results for the first quarter of 2022. Net sales rose 4% year-over-year to

IPO Alert: Allvue Systems sets IPO terms, to raise around $290 million

It is estimated that the alternative investments industry has expanded at a compound annual rate of 10.2% over the past ten years and had $11 trillion in assets under management

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top