Analog Devices triples Q2 net income
Analog Devices has announced Q2 net income of $167.1million, more than triple the figure from a year ago.
Revenue rose nearly 41% to $668.2m compared to the same period last year, while sales at the company's automotive segment more than doubles to $83.5m.
The last time the chipmaker's revenue was in the $660m range was during the fourth quarter of 2008.
"Looking ahead to the third quarter, given our higher opening backlog, we are expecting fairly broad-based revenue growth," ADI's chief executive Jerald Fishman (pictured) said in a statement.
ADI forecasts third quarter revenue to be between $695m and $715m and expects third quarter gross margins to be in the range of 65 to 66%.
