Linear Technology Posts Higher Q2 Profit

(RTTNews) - Chipmaker Linear Technology Corp. (LLTC) reported net income for the second quarter of $104.8 million or $0.44 per share, compared to $88.8 million or $0.38 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $121.6 million or $0.51 per share, compared to $104.3 million or $0.44 per share in the prior year quarter.

Revenue for the second quarter rose 9.6% to $334.60 million from $305.28 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.45 per share on revenue of $334.79 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward, the company said it expects third quarter revenues to grow 3% to 6% sequentially, implying revenue of $344.64 million to $354.68 million. Analysts currently expect the company to post revenue of $346.00 million for the third quarter.