Analog Devices Posts Lower 2Q Profit, Sales

He added that the quarter's expenses were "significantly lower" than the company had originally planned.

The company's order levels, he added, were stable during the second quarter and have stayed so through the first two weeks of May.

For the third quarter, Analog expects revenue to be about flat on a sequential basis, and it is forecasting earnings from continuing operations between 17 cents and 19 cents per share.

Analysts are predicting a profit of 11 cents per share on sales of $441.8 million.

Shares jumped $1.62, or 7.9 percent, to $22.20 in after-hours trading. The stock had closed up 68 cents, or 3.4 percent, at $20.58.