Shares of communications semiconductor maker Linear Technology (LLTC) are down 30 cents, or 0.8%, at $35.25, after the company this afternoon reported fiscal Q2 revenue and earnings per share that fell short of consensus.
Revenue in the three months ended in December rose 3.7%, year over year, and fell 9%, quarter to quarter, to $305.3 million, yielding EPS of 38 cents.
Analysts on average had been modeling $311 million and 40 cents a share.
Revenue is projected to rise by 1% to 4% this quarter versus last quarter, the company said, which would equal $108 million to $117.5 million, below the average $322 million the Street has been modeling.
CEO Lothar Maier said the company was dealt with difficult economic conditions but was seeing some improving trends:
We expected a difficult second fiscal quarter given the tough economic climate existing domestically and globally [�] bookings continued to be weak throughout the first two months of the quarter. Though we were disappointed in the revenue decline, we are encouraged that we saw stronger bookings momentum exiting the quarter and this improvement has continued through the early stage of the current quarter. Innovation is prevalent in our end markets and our product positioning is strong.
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