Business
Analog Devices Reports First Quarter Fiscal 2020 Results
Revenue of $1.3 billion, in-line with our expectations for the first quarter Operating cash flow of $2.2 billion and free cash flow of $2.0 billion on a
About this update from Analog Devices, Inc.
[{"type":"text","content":"\n\nRevenue of $1.3 billion, in-line with our expectations for the first quarter\n\n\nOperating cash flow of $2.2 billion and free cash flow of $2.0 billion on a trailing twelve months basis\n\n\nReturned over $300 million to shareholders in the first quarter through dividends and share repurchases\n\n\nIncreased quarterly dividend by 15%, the high-end of target range of 7% to 15%\n\n\n NORWOOD, Mass.--(BUSINESS WIRE)--\nAnalog Devices, Inc. (Nasdaq: ADI), a leading global high-performance analog technology company, today announced financial results for its first quarter of fiscal 2020, which ended February 1, 2020.\n\n\n“ADI’s first quarter results were in-line with our expectations. Encouragingly, demand across our end markets has stabilized and is beginning to show signs of improvement as we enter our fiscal second quarter,” said Vincent Roche, President and CEO. “We are building on this momentum by executing on our 2020 priorities – deepening our customer-centricity, deploying our capital efficiently, and capitalizing on secular trends to expand our addressable markets and drive diversified growth. Further, we raised our quarterly dividend by 15%, reflecting the stability of our cash flows and our optimism regarding ADI’s future.”\n\n\nRoche continued, “I believe the demand for ADI’s solutions will be unprecedented as technological innovation underpinned by ubiquitous sensing, hyper-scale and edge computing, and pervasive connectivity continues to grow at an exponential pace. Our diversified business model combined with our leading technology portfolio position ADI to deliver sustainable long-term growth and strong shareholder returns in the years ahead.”\n\n\nPerformance for the First Quarter of Fiscal 2020 \n\n\n\n\nResults Summary(1)\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n(in millions, except per-share amounts and percentages)\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n\nThree Months Ended\n\n\n\n\n\n \n\n\n\n\nFeb. 1, 2020\n\n\n\n \n\n\n\nFeb. 2, 2019\n\n\n\n \n\n\n\nChange\n\n\n\n\n\nRevenue\n\n\n\n\n$\n\n\n\n1,304\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,541\n\n\n\n \n\n\n\n \n\n\n\n(15)\n\n\n\n%\n\n\n\n\n\nGross margin\n\n\n\n\n$\n\n\n\n848\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,040\n\n\n\n \n\n\n\n \n\n\n\n(18)\n\n\n\n%\n\n...