Tuesday January 13, 11:20 PM
Linear Tech sees third quarter revs down from second quarter
SAN FRANCISCO, Jan 13 (Reuters) - Analog chip maker Linear Technology (NASDAQ: LLTC - news) posted a drop in second quarter net income,
forecast third quarter revenues would be down sequentially, and said the bottom was not in sight.
Shares fell 3.8 percent in after-hours trading.
The company said its net profit in the quarter ended Dec. 28 fell to $84.2 million, or 38 cents a share, from $93.8 million, or 41 cents a share, in the year-ago period.
Chief Executive Lothar Maier said in a statement that he expected fiscal third quarter revenues 'will be down in the 15 percent to 20 percent range from the second quarter.'
'We believe we have not yet seen the bottom,' he said in the statement. 'Our bookings continue to be weak in the early part of this quarter.'
Linear Technology makes analog integrated circuits, used in a wide variety of devices.
Revenue fell to $249.2 million. Analysts had expected revenue of $254.6 million, according Reuters Estimates.
The company increased its quarterly dividend by a penny to 22 cents a share.
(Reporting by David Lawsky; editing by Carol Bishopric) Keywords: LINEARTECHNOLOGY/RESULTS
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