Linear Technology Earnings Cheat Sheet: Beats Analysts’ Estimates

S&P 500 (NYSE:SPY) component Linear Technology Corporation (NASDAQ:LLTC) reported net income above Wall Street’s expectations for the fourth quarter. Linear Technology Corp. offers a line of standard high performance linear integrated circuits.

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Linear Technology Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for Linear Technology Corporation rose to $158.2 million (68 cents per share) vs. $124.5 million (54 cents per share) in the same quarter a year earlier. This marks a rise of 27.1% from the year earlier quarter.

Revenue: Fell 2.1% to $358.6 million from the year earlier quarter.

Actual vs. Wall St. Expectations: LLTC reported adjusted net income of 76 cents per share. By that measure, the company beat the mean estimate of 56 cents per share. Analysts were expecting revenue of $359.5 million.

Quoting Management: According to Lothar Maier, CEO, “We met the midpoint of our revenue guidance for our fourth fiscal quarter of 2011, as sales grew 1.5% compared to the preceding third quarter. We are pleased with our annual results as the Company achieved record annual revenues and earnings per share while maintaining industry leading profitability. However, in the short-term we experienced declining bookings demand towards the end of the quarter. We had anticipated that the Japan tragedies and the related supply disruptions would continue to impact our customers, particularly in the automotive and industrial markets. Now that these industry-wide supply issues have been largely resolved, customers have been reducing their inventories more than anticipated. The impact of these events and general economic sluggishness relating to US and European debt issues appear to have left customers cautious and delaying orders and shipments until the current economic picture becomes clearer. On a positive note, end-demand expectations at our customers appears generally unchanged and automotive production is expected to pick-up in the fall.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the third quarter, net income rose 40.7% and in the second quarter, the figure rose 90.3%.

A year-over-year revenue decrease last quarter snaps a streak of four consecutive quarters of revenue increases. The best quarter in that span was the fourth quarter of the last fiscal year, which saw revenue rise 76%.

The company has now topped analyst estimates for the last three quarters. It beat the mark by 6 cents in the third quarter and by 5 cents in the second quarter.

Competitors to Watch: Texas Instruments Inc. (NYSE:TXN), Analog Devices, Inc. (NYSE:ADI), National Semicond. Corp. (NYSE:NSM), Maxim Integrated Products Inc. (NASDAQ:MXIM), Intersil Corporation (NASDAQ:ISIL), Micrel, Incorporated (NASDAQ:MCRL), Advanced Analogic Tech. Incorp. (NASDAQ:AATI), ON Semiconductor Corp. (NASDAQ:ONNN), Semtech Corporation (NASDAQ:SMTC), and Microchip Technology Inc. (NASDAQ:MCHP).

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(Source: Xignite Financials)

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