Linear Tech Profit Tops Estimate; Stock Up 4%

(RTTNews) - Chip maker Linear Technology Corp (LLTC) on Tuesday reported second-quarter net earnings of $123.6 million or $0.51 per share compared with $104.8 million or $0.44 per share last year.

Revenues for the quarter were $352.6 million compared with $334.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.50 per share on revenues of $354.6 million for the quarter. Analysts' estimates typically exclude special items.

Linear said results were helped by a lower effective income tax rate of 22%, and absence of interest expense recorded a year ago.

For the third quarter, the company expects earnings revenues to grow 4 to 7 percent on a sequential basis.

Analysts expect revenues of $364.3 million for the quarter.

The company's board approved an increase in the quarterly dividend from $0.27 per share to $0.30 per share.

LLTC closed Tuesday at $45.17, down $0.28 or 0.62%, on a volume of 4.2 million shares on the Nasdaq. In after hours, the stock gained $1.83 or 4.05% at $47.00.