Analog Devices (ADI) has reported 207.52 percent jump in profit for the quarter ended Oct. 29, 2016. The company has earned $296.16 million, or $0.95 a share in the quarter, compared with $96.30 million, or $0.30 a share for the same period last year. On an adjusted basis, earnings per share were at $1.05 for the quarter compared with $1.03 in the same period last year.
Revenue during the quarter went up marginally by 2.54 percent to $1,003.62 million from $978.72 million in the previous year period. Gross margin for the quarter expanded 85 basis points over the previous year period to 66.43 percent. Total expenses were 64.43 percent of quarterly revenues, down from 88.90 percent for the same period last year. This has led to an improvement of 2447 basis points in operating margin to 35.57 percent.
Operating income for the quarter was $356.98 million, compared with $108.63 million in the previous year period.
However, the adjusted operating income for the quarter stood at $382.23 million compared to $351.38 million in the prior year period. At the same time, adjusted operating margin improved 218 basis points in the quarter to 38.09 percent from 35.90 percent in the last year period.
"ADI had another excellent quarter, with both revenue and earnings per share exceeding the high end of our guidance range," said Vincent Roche, president and chief executive officer. "Revenue increased to a record $1 billion on broad strength across all of our markets, and our focus on sustainable and differentiated innovation, combined with strong operational execution, helped drive profitability and cash flow generation to record levels."
For the first-quarter, Analog Devices forecasts revenue to be in the range of $840 million to $900 million. On an adjusted basis, the company expects diluted earnings per share to be in the range of $0.68 to $0.78.
Operating cash flow improves significantlyAnalog Devices has generated cash of $1,280.90 million from operating activities during the year, up 41.10 percent or $373.10 million, when compared with the last year. The company has spent $1,218.27 million cash to meet investing activities during the year as against cash outgo of $17.12 million in the last year.
The company has spent $22.92 million cash to carry out financing activities during the year as against cash outgo of $571.60 million in the last year period.
Debt increases substantiallyAnalog Devices has witnessed an increase in total debt over the last one year. It stood at $1,732.18 million as on Oct. 29, 2016, up 99.12 percent or $862.24 million from $869.94 million on Oct. 31, 2015. Total debt was 21.73 percent of total assets as on Oct. 29, 2016, compared with 12.32 percent on Oct. 31, 2015. Debt to equity ratio was at 0.34 as on Oct. 29, 2016, up from 0.17 as on Oct. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
