Linear Tech earnings fall; shares up on forecast
SAN FRANCISCO (MarketWatch) — Linear Technology Corp. reported a 39% in earnings for its second fiscal quarter on Tuesday afternoon, though the chip maker also issued a revenue forecast for the current period that was slightly above Wall Street’s expectations. For the period ended Jan. 1, Linear reported net income of .9 million, or 38 cents per share, compared to net income of 3.7 million, or 62 cents per share, for the same period the prevous year. Revenue slipped by 23% to 4.3 million. Analysts were expecting earnings of 39 cents a share on revenue of 2.6 million. Saying he believes the company is “at an inflection point in our business,” CEO Lothar Maier projected a sequential revenue gain of 4%-8% for the current period; analysts had been modeling for a 3% gain.
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