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Analog Devices Posts Lower 2Q Profit, Sales
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ADI
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NORWOOD, Mass. (AP) Chip designer Analog Devices Inc. posted sharply lower profit and sales for its fiscal second quarter Tuesday amid the economic turmoil that has dampened global chip demand.
Still, the company said the results were better than planned, while the quarter's costs were lower than expected.
For the three months ended May 2, the company earned $51.8 million, or 18 cents per share, down 61 percent from $133.1 million, or 45 cents per share, in the same period a year earlier. ...
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