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Linear Tech posts flat Q2 results

Posted: 19 Jan 2007 ?? ?Print Version ?Bookmark and Share

Keywords:Linear Technology? market report? revenue report? earnings? quarter report?

Linear Technology Corp. announced that revenue for its quarterly period ended Dec. 31, was $267.9 million, an increase of 1 percent over revenue of $265.1 million for Q2 of the previous fiscal year.

Net income computed in accordance with U.S. GAAP for the Q2 of fiscal year 2007 was $105 million, or 34 cents diluted earnings per share (EPS), and was similar to GAAP net income of $103.3 million or 33 cents diluted EPS reported in Q2 of the previous fiscal year.

Linear CEO Lothar Maier was upbeat. "We are seeing an overall reduction in our inventories at our end customers, which coupled with some general market weakness, has resulted in a decrease in bookings, sales and profits for the December quarter," he said in a statement.

"The upcoming March quarter is a challenge to accurately forecast. Visibility continues to be low and customers remain guarded in their forecasting and inventory management. The March quarter has historically been strong for Linear due to seasonal strength in industrial markets. However, with inventory reductions expected to continue and low market visibility, this year we expect will be an exception," Maier said.

"It is likely that improvements in Europe and the United States may be offset by slowness in Asia, particularly in consumer related markets. Consequently, we currently expect revenue to be down 4 percent to 7 percent with profits slightly more impacted primarily due to an increase in the tax rate. However, any increase in confidence in the overall business environment would positively impact this outlook," he added.

- Mark LaPedus
EE Times

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