Linear Technology Profit Falls
October 13 2015 - 6:40PM
Dow Jones News
Linear Technology Corp. said profit fell 13% in the quarter
ended September on lower bookings as customers reacted to a
sluggish global economy.
The Milpitas, Calif., chip maker said Tuesday it remains
cautious regarding the economic climate, but forecast revenue for
the second quarter—historically weak for the company—to be between
flat and up 3% from last year, topping analysts' expectations of a
4% decline.
Shares rose 3.2% in after-hours trading.
Linear Technology is a maker of analog chips. Such chips are
designed for specific tasks, such as monitoring temperature or
regulating voltage, and are used in a broad range of sectors.
For the latest quarter, the company reported a profit of $112
million, or 46 cents a share, down from $129.5 million, or 53
cents, a year earlier. Analysts polled by Thomson Reuters had
forecast earnings of 46 cents.
Revenue dropped 7.9% to $341.9 million. In July, the company
said it expected revenue to decline to a range of $333.9 million to
$352.9 million, citing in part a decline in bookings received in
the June quarter.
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(END) Dow Jones Newswires
October 13, 2015 19:25 ET (23:25 GMT)
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