The Gory Details on Analog Devices' Double Fumble
Feb 23rd 2012 10:26AM
Updated Feb 23rd 2012 10:28AM
Analog Devices (NYS: ADI) reported earnings on Feb. 22. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Feb. 4 (Q1), Analog Devices missed estimates on revenue and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Analog Devices tallied revenue of $648.1 million. The 22 analysts polled by S&P Capital IQ wanted to see net sales of $662.3 million on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $728.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.46. The 21 earnings estimates compiled by S&P Capital IQ averaged $0.48 per share. GAAP EPS of $0.46 for Q1 were 36% lower than the prior-year quarter's $0.72 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 63.2%, 300 basis points worse than the prior-year quarter. Operating margin was 28.7%, 690 basis points worse than the prior-year quarter. Net margin was 21.5%, 900 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $666.2 million. On the bottom line, the average EPS estimate is $0.54.
Next year's average estimate for revenue is $2.77 billion. The average EPS estimate is $2.26.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 388 members out of 420 rating the stock outperform, and 32 members rating it underperform. Among 137 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 129 give Analog Devices a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Analog Devices is outperform, with an average price target of $38.60.
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