Analog Devices Reports Third Quarter Fiscal 2020 Results With Revenue and EPS Above the Midpoint of Guidance

  • Revenue of $1.46 billion increased 11% sequentially, led by growth in the communications and industrial markets
  • Operating cash flow of $2.0 billion and free cash flow of $1.8 billion on a trailing twelve months basis
  • Announced agreement to acquire Maxim Integrated Products Inc. in the quarter, further strengthening ADI’s analog semiconductor leadership position

NORWOOD, Mass. — (BUSINESS WIRE) — August 19, 2020 — Analog Devices, Inc. (Nasdaq: ADI), a leading global high-performance analog technology company, today announced financial results for its third quarter of fiscal 2020, which ended August 1, 2020.

“We executed exceptionally well in this uncertain environment. Our quarterly results came in above the midpoint of our revised outlook, which is a testament to the dedication of our talented global team and the resilience of our diversified business. Revenue growth was led by strength across our industrial and communications markets, and both gross and operating margins returned within the range of our financial model,” said Vincent Roche, President and CEO of Analog Devices.

Roche continued, “Our recently announced acquisition of Maxim will further expand our technology capabilities, grow our cadre of talented engineers, and deliver significant benefits for our stakeholders. Together, we will continue to push the limits of innovation and create more complete solutions for our customers, staying ahead of what’s possible for decades to come.”

Performance for the Third Quarter of Fiscal 2020

Results Summary(1)

(in millions, except per-share amounts and percentages)

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Aug. 1, 2020

 

Aug. 3, 2019

 

Change

Revenue

 

$

1,456

 

 

$

1,480

 

 

(2

)%

Gross margin

 

$

973

 

 

$

998

 

 

(3

)%

Gross margin percentage

 

66.8

%

 

67.4

%

 

(60 bps)

Operating income

 

$

419

 

 

$

447

 

 

(6

)%

Operating margin

 

28.8

%

 

30.2

%

 

(140 bps)

Diluted earnings per share

 

$

0.97

 

 

$

0.97

 

 

%

 

 

 

 

 

 

 

Adjusted Results

 

 

 

 

 

 

Adjusted gross margin

 

$

1,018

 

 

$

1,042

 

 

(2

)%

Adjusted gross margin percentage

 

69.9

%

 

70.4

%

 

(50 bps)

Adjusted operating income

 

$

616

 

 

$

604

 

 

2

%

Adjusted operating margin

 

42.3

%

 

40.8

%

 

150 bps

Adjusted diluted earnings per share

 

$

1.36

 

 

$

1.26

 

 

8

%

 

 

 

 

 

 

 

 

 

 

 

Three Months
Ended

 

Trailing Twelve
Months

Cash Generation

 

 

 

Aug. 1, 2020

 

Aug. 1, 2020

Net cash provided by operating activities

 

 

 

$

557

 

 

$

1,994

 

% of revenue

 

 

 

38

%

 

36

%

Capital expenditures

 

 

 

$

(21

)

 

$

(187

)

Free cash flow

 

 

 

$

536

 

 

$

1,807

 

% of revenue

 

 

 

37

%

 

33

%

 

 

 

 

 

 

 

 

 

 

 

Three Months
Ended

 

Trailing Twelve
Months

Cash Return

 

 

 

Aug. 1, 2020

 

Aug. 1, 2020

Dividend paid

 

 

 

$

(229

)

 

$

(857

)

Stock repurchases

 

 

 

(18

)

 

(410

)

Total cash returned

 

 

 

$

(247

)

 

$

(1,266

)

 

 

 

 

 

 

 

(1) The sum and/or computation of the individual amounts may not equal the total due to rounding.


1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article
Featured Video
Latest Blog Posts
Alex Carrick, Chief Economist at ConstructConnectThe AEC Lens
by Alex Carrick, Chief Economist at ConstructConnect
Gap Between Bid Price Increases and Material Cost Increases is Narrowing
Dr. Biplab SarkarVectorworks Blog
by Dr. Biplab Sarkar
See How You Can Design Without Limits With Vectorworks
Jobs
Senior Highway Engineer for RS&H at Jacksonville, Florida
ASIC Architects and Hardware Engineers at D. E. Shaw Research for D. E. Shaw Research at New York, New York
Transit GIS analyst/planner for Jarrett Walker and Associates at Portland, Oregon
Product Design Engineer - Softgoods for Apple Inc at Cupertino, California
Director, Industrial Machinery Solutions- SISW PLM for Siemens AG at Livonia, Michigan
Upcoming Events
SIGGRAPH Asia 2021 at Tokyo, Japan Japan - Dec 14 - 17, 2021
Utopian and Sacred Architecture Studies (USAS) - 2nd Edition at University Way, Dockland Campus London, E16 2RD, UK London --Choose One-- United Kingdom - Jun 14 - 15, 2022



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise