Product category:
Power Supply ICs and Controllers
News Release from: Linear Technology Corp
Edited by the Electronicstalk Editorial
Team on 21 April 2005
Royalties boost Linear's revenues
Linear Technology reports total revenue for its third quarter ended 3rd April 2005 of $290,734,000, an increase of 39% over revenue of $209,133,000 for the third quarter of the previous year.
Linear Technology reports total revenue for its third quarter ended 3rd April 2005 of $290,734,000, an increase of 39% over revenue of $209,133,000 for the third quarter of the previous year Included in the current quarter's revenue is royalty revenue of $40,000,000, which represents past royalties receivable under terms of a settlement and license agreement with another company
This article was originally published on Electronicstalk on 28 Jul 2004 at 8.00am (UK)
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Linear Technology expects to earn further royalties, dependent on sales of licensed products, quarterly from July 2005 through June 2013.
Such ongoing quarterly royalty revenue is not expected to be material to each individual quarter's total revenue.
The company also reported net income for the quarter of $121,633,000 or $0.39 diluted earnings per share, an increase of 42% from $85,549,000 or $0.27 diluted earnings per share reported for the third quarter of last year.
The current quarter net income has been reduced by various expenses related to royalty revenue.
During the quarter, the company's cash and short-term investments increased by $5.2 million, net of spending $57.8 million to purchase 1,532,770 shares of common stock.
A cash dividend of $0.10 per share will be paid on 18th May 2005 to stockholders of record on 29th April 2005.
According to Lothar Maier, CEO: "Linear Technology completed a solid quarter, further enhanced by the settlement and license agreement".
"Product sales were similar to last quarter, whereas bookings improved slightly during the quarter".
"The company continues to be cash flow positive and profitable as evidenced by the 42% return on sales".
"The licence agreement confirms the strength of our intellectual property".
"We continue to lead the market with high performance analogue technology and innovative products".
"With regard to the upcoming quarter, these continue to be challenging times to forecast".
"Many customers are cautious given the general concerns in the macroeconomic environment".
"We expect end demand to be relatively stable with bookings increasing slightly over the prior quarter".
"Additional royalty revenue under the licence agreement does not commence until the September quarter".
"However, we expect sequential product revenues in the June quarter to increase 2 to 3% over the quarter just ended".
"Consequently, we expect total revenue in the range of $255 million to $258 million". Request free introductory details about products from Linear Technology Corp ...
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