Analog Devices (ADI) Guides Q1 Lower
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Analog Devices Inc. (NYSE: ADI) sees Q1 EPS of $0.22-$0.23, ex-restructing charges, which is below the Street consensus of $0.35. The company sees revenues down 20% sequentially.
Commenting on its Q1 outlook, Analog Devices said, "The global credit crisis and deteriorating economic conditions have resulted in much more cautious customer spending behavior and generally lower demand. Order rates slowed in late September, and backlog declined significantly from the prior quarter, which limits our short-term visibility."
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