Linear Technology Corp. (LLTC) Tops Q2 EPS by 1c

Linear Technology Corp. (NASDAQ: LLTC) reported Q2 EPS of $0.51, $0.01 better than the analyst estimate of $0.50. Revenue for the quarter came in at $352.6 million versus the consensus estimate of $354.57 million.

According to Lothar Maier, CEO, "Revenues declined 5% sequentially from our first quarter and were up 5% year over year, which was within our guidance. We had expected this sequential decline as the second quarter has historically been seasonally weak for us. Bookings declined slightly although improved as the quarter progressed. The industrial end-market showed the most strength. As is typical, we expect our major end-markets to improve during the second half of our fiscal year. Compared to the first quarter, gross margin and operating margin of 75.4% and 44.9% were also down modestly on lower revenue but remain industry leading. Looking ahead, though there remains some weaker pockets of the global economy, our book-to-bill ratio was slightly positive in the December quarter and we typically see strong bookings momentum in the automotive and industrial markets in the March quarter. Accordingly, we are currently forecasting revenues to grow sequentially by 4% to 7% in our fiscal third quarter. In addition, now that we no longer have debt to repay, we have increased our cash return to shareholders in the form of larger dividends and share buybacks. We increased our quarterly dividend by 11%."

For earnings history and earnings-related data on Linear Technology Corp. (LLTC) click here.

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