Analog Devices, Inc. (NASDAQ: ADI) stock rose over 0.7% on May 30th, 2018 (as of 2:21 PM GMT-4; Source: Google finance).
For fiscal second quarter 2018 the net income rose to $379.8 million, from $93.6 million in the same period a year ago. ADI’s unparalleled high-performance analog portfolio uniquely positions the company to take advantage of the ever-expanding opportunities at the intersection of the digital and physical worlds to drive sustainable, profitable growth long into the future.
The company in the second quarter of FY 18 has reported the adjusted earnings per share of $1.45, up from $1.03 last year, beating the analysts’ estimates for the adjusted earnings per share of $1.37 as per FactSet consensus. The company had reported the adjusted revenue growth of 47 percent to $1.51 billion in the second quarter of FY 18, beating the analysts’ estimates for revenue of $1.47 billion.
Moreover, in the second quarter of 2018, ADI has posted Non-GAAP gross margin of 71.3% of revenue and Non-GAAP operating margin of 42.1% of revenue.
Additionally, ADI has declared a quarterly cash dividend of $0.48 per outstanding share of common stock. The dividend will be paid on June 19, 2018 to all shareholders of record at the close of business on June 8, 2018.
For the third quarter 2018, the company expects adjusted earnings per share in the range of $1.38 to $1.52 and revenue in the range of $1.47 billion to $1.55 billion, which is as per the FactSet consensus for earnings per share of $1.40 and for revenue of $1.49 billion. ADI expects the B2B markets to deliver double-digit year-over-year growth once again. The revenue from the B2B markets have increased double digits year-over-year due to the industrial and communications sectors.
In addition, for the third quarter 2018, operating expenses is expected to be flat to up $10 million year-over-year. Operating margin is expected to be in the range of ~41% to ~43%. Interest and other expenses is expected to be approximately 58 million in the third quarter 2018. The tax rate in the third quarter 2018 is expected to be in the range of ~5% to ~7%.