Analog devices post 28% revenue
drop in its fiscal first Q 2009 compared to previous Q
Analog semiconductor IC and DSP vendor, Analog Devices has
announced financial results for the first quarter of fiscal
2009, which ended January 31, 2009. Revenue for the first
quarter was $477 million a decline of 28% from the immediately
prior quarter and 22% from the same period one year ago.
Company's operating income was $20 million, and diluted
EPS from continuing operations was $0.08. These financial
results include restructuring charges of $42 million, or
$0.10 per share.
"During the first quarter, we reduced non-GAAP operating
expenses by 13% sequentially and constrained inventory growth
as deteriorating economic conditions continued to pressure
end-market demand," said President and CEO Jerald G.
Fishman. "In addition to executing immediate cost actions,
we continued to drive the process we began long before the
downturn to heighten our focus on market opportunities that
offer attractive growth and profitability, and to streamline
our manufacturing operations."
Mr. Fishman continued, "We're further concentrating
our investments on core technologies that have enabled us
to build the strongest signal processing brand in the industry.
At the same time, we're driving initiatives to fundamentally
reshape our infrastructure costs which, along with further
spending reductions, are designed to maximize our near-
and long-term profitability."
Operation Amplifier, ADC, DAC, Power supply semiconductor
devices, and a few DSP families are few examples of the
products; the Analog Devices is famous for. The revenue
has fallen in all the semiconductor categories. In application
areas too, sales from every segment has declined.
End market and product revenue highlights:
Revenue from industrial customers, 54% of total revenue,
decreased 24% from the immediately prior quarter and 22%
from the same period one year ago.
Revenue from communications customers, 27% of total revenue,
decreased 22% from the immediately prior quarter and 3%
from the same period one year ago. Revenue from wireless
handset customers experienced the largest sequential and
year-over-year percentage declines. Revenue from basestation
customers declined sequentially, but increased on a year-over-year
basis.
Revenue from consumer customers, 16% of total revenue,
decreased 42% sequentially and 40% year-to-year, with revenues
declining across all consumer electronics applications,
consistent with the global decline in consumer spending.
Revenue from computer customers, 3% of total revenue, decreased
38% from the immediately prior quarter and 35% from the
same quarter a year ago, in line with the worldwide decline
in PC sales.
Analog semiconductor product revenue, 91% of total revenue,
declined 27% from the immediately prior quarter and 21%
year-over-year. Together, data converters and amplifiers
contributed 74% of total revenue for the quarter.
General purpose digital signal processing (DSP) products,
8% of total revenue, decreased 34% sequentially and 27%
year-over-year.