NORWOOD, Mass. (AP) _ Analog Devices Inc. (ADI) on Wednesday reported fiscal first-quarter profit of $203.9 million.
The Norwood, Massachusetts-based company said it had profit of 55 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.03 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The semiconductor maker posted revenue of $1.3 billion in the period, which matched Street forecasts.
For the current quarter ending in May, Analog Devices expects its per-share earnings to range from $1.02 to $1.18. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.13.
The company said it expects revenue in the range of $1.3 billion to $1.4 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $1.38 billion.
Analog Devices shares have fallen slightly since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 4%. The stock has climbed 12% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADI at https://www.zacks.com/ap/ADI
