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Analog Devices Management Discusses Q2 2012 Results - Earnings Call Transcript

In addition, we have updated the schedules on our IR website, which include the historical quarterly and annual summary P&Ls for continuing operations, as well as historical quarterly and annual information for revenue from continuing operations by both end market and product type.

Participating with me on today's call are Jerry Fishman, President and CEO; David Zinsner, Vice President of Finance and CFO; and Vincent Roche, Vice President of Sales and Strategic Market segments. During the first part of the call, Jerry and Dave will present our second quarter 2012 results, as well as our short-term outlook. The remainder of the time will be devoted to answering questions from our analyst participants.

I'd ask you to please note that the information we are about to discuss includes forward-looking statements intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include risks and uncertainties, and our actual results could differ materially from those we will be discussing. Factors that could contribute to such differences include, but are not limited to those described in our SEC filings including our most recent quarterly report on form 10-Q filed earlier today.

The forward-looking information that is provided on this call represents our outlook as of today, and we do not undertake any obligation to update the forward-looking statements made by us. Subsequent events and development may cause our outlook to change. Therefore, this conference call will include time-sensitive information that may be accurate only as of the date of this live broadcast, which is May 22, 2012.

With that, I'll turn the call over to ADI's CEO, Jerry Fishman, for opening remarks.

Jerald G. Fishman

Well, thanks, Maria, and good afternoon to everybody on the call. Our revenues in our second quarter totaled approximately $675 million, which was up slightly more than 4% sequentially, but down about 15% compared to the year-ago quarter. You might remember the year-ago quarter when ADI revenue peaked, as customers built inventory to reduce the risk of supply disruptions that were widely feared after the March 2011 earthquake and tsunami.

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