Linear Technology (LLTC) Tops Q1 EPS by 5c
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Linear Technology (Nasdaq: LLTC) reports Q1 EPS of $0.29, ex-items, 5 cents better than the analyst estimate of $0.24. Revenue for the quarter was $236.1 million, which compares to the estimate of $215.87 million.
CEO Lothar Maier stated, "This was a strong quarter in both revenue and profit growth. We were pleased by the acceleration of customer orders during the latter half of the quarter as each of our end-markets except cell phone improved, in particular the automotive and industrial markets. As a result, revenues significantly improved over the previous quarter as we grew sales 14%, beating the top end of our guidance. In addition, our operating income grew by 26% and now represents 42% of sales. I would also like to recognize our dedicated employees who are helping us work successfully through these challenging times."
Linear Technology forecasting revenue growth for the second fiscal quarter in the range of 2% to 5% over our first quarter.
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