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Analog Devices Inc. (NYSE:ADI) reported its results for the first quarter. Net income for Analog Devices Inc. fell to $139.4 million (46 cents per share) vs. $222.1 million (72 cents per share) a year earlier. This is a decline of 37.2% from the year-earlier quarter. Revenue fell 11% to $648.1 million from the year-earlier quarter. Analog Devices Inc. fell short of the mean analyst estimate of 48 cents per share. It fell short of the average revenue estimate of $662.3 million.
“The first quarter results were within the range we expected. Revenue of $648 million and diluted earnings per share (NYSE:EPS) of $0.46 declined compared to both the immediately prior quarter and the year-ago quarter. Late in the first quarter, order rates began to accelerate and have remained solid so far this quarter. This leads us to believe that the first quarter marked the bottom of this industry cycle and we expect our business will improve beginning in the second quarter,” said Jerald G. Fishman, President and CEO.
Competitors to Watch: Texas Instruments Inc. (NYSE:TXN), National Semicond. Corp. (NYSE:NSM), Intersil Corporation (NASDAQ:ISIL), Linear Technology Corp. (NASDAQ:LLTC), Maxim Integrated Products Inc. (NASDAQ:MXIM), ON Semiconductor Corp. (NASDAQ:ONNN), Silicon Laboratories (NASDAQ:SLAB), Cirrus Logic, Inc. (NASDAQ:CRUS), Broadcom Corporation (NASDAQ:BRCM), and Micrel, Incorporated (NASDAQ:MCRL).
Angie’s List, Inc. (NASDAQ:ANGI) reported results for the fourth quarter. The company’s loss narrowed to $5.9 million (14 cents a share) vs. a loss of $8.2 million or 30 cents a share a year earlier. Revenue rose 70% to $27.4 million. Fell short of the mean analyst estimate of a loss of 11 cents a share.
“In 2011 Angie, the team and I continued to advance our dream of building Angie’s List into the world’s most trusted marketplace for local services,” said Angie’s List CEO, Bill Oesterle. “Angie’s List helps consumers make the important service purchases in their lives. Evidence of our progress can be seen in our 2011 results. The business and the model continued on their long path of scale, consistency and predictability.”
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