Inside ADI’s Results
The company reported earnings of $178.8 million, or 57 cents per share, up from $152.6 million, or 48 cents per share, a year ago. Excluding special items, EPS was 63 cents – above analysts’ estimate of 61 cents.
Revenue jumped 23% to $771.99 million from $628.24 million last year. Analysts expected to see $760.54 million.
Looking ahead to the second quarter, the company expects to see EPS between 62 cents and 66 cents. Revenue is expected to be between $810 million and $830 million. Analysts expect to see EPS of 69 cents and $806.84 million.
ADI Remains Confident in Long-Term Business
About 47% of the company’s revenue is obtained in its Industrial and Communications business, which has been seeing strong demand. ADI also cited strong growth in its automotive business, which accounts for about 18% of its business.
Mutual Funds to Watch
|VWINX||Vanguard Wellesley Income Fund||2.18%|
|ARTQX||Artisan Mid Cap Value Investor||1.79%|
|VTSMX||Vanguard Total Stock Market Index||1.74%|
The Bottom Line
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