WILMINGTON, Mass. (AP) — WILMINGTON, Mass. (AP) — Analog Devices Inc. (ADI) on Tuesday reported fiscal fourth-quarter net income of $498.4 million.
The Wilmington, Massachusetts-based company said it had profit of $1 per share. Earnings, adjusted for one-time gains and costs, were $2.01 per share.
The results met Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was also for earnings of $2.01 per share.
The semiconductor maker posted revenue of $2.72 billion in the period, exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $2.71 billion.
For the year, the company reported profit of $3.31 billion, or $6.55 per share. Revenue was reported as $12.31 billion.
For the current quarter ending in January, Analog Devices expects its per-share earnings to range from $1.60 to $1.80.
The company said it expects revenue in the range of $2.4 billion to $2.6 billion for the fiscal first quarter.
Analog Devices shares have climbed 12% since the beginning of the year, while the S&P’s 500 index has risen 18%. The stock has increased 14% 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
