Power Components

Analog Devices Reports Record Revenue and EPS

Analog Devices, Inc. announced financial results for its fourth quarter and fiscal year 2018, which ended November 3, 2018, including revenues of approximately $1.6 billion for the fourth quarter and approximately $6.2 billion for fiscal 2018.

Other results included: B2B revenues increased double digits year-over-year in both the fourth quarter and for fiscal year 2018; growth was led by the industrial and communications sectors; Operating cash flow of $2.4 billion and free cash flow of $2.2 billion on a trailing twelve months basis; $1.53 billion of debt reduction lowering the leverage ratio from 2.6x to 1.9x during fiscal 2018; and Returned $364 million to shareholders in the fourth quarter through dividends and share repurchases.

"We delivered very strong financial results in our fourth quarter, achieving record revenue and earnings per share to cap off a successful year," said Vincent Roche, President and CEO. "Revenue growth was once again led by strength in our B2B markets, with particular strength in the industrial and communications sectors. Our portfolio of innovative solutions, customer-centric approach, and disciplined operational execution drove high profitability and strong cash generation, allowing us to return more than $360 million to shareholders in the quarter."

"Our diverse business model, combined with a comprehensive, market-leading portfolio that is strategically pointed at secular growth trends across our B2B markets, enables us to navigate the current macro climate. I am pleased that we continue to execute exceptionally well thanks in large part to the thousands of talented people across ADI who are dedicated to delivering quality and value for our customers every day."

The ADI Board of Directors has also declared a quarterly cash dividend of $0.48 per outstanding share of common stock. The dividend will be paid on December 10, 2018 to all shareholders of record at the close of business on November 29, 2018.

Results for the Fourth Quarter of Fiscal Year 2018

  • Revenue totaled $1.6 billion, up 2% sequentially and up 4% year-over-year
  • GAAP gross margin of 68.5% of revenue; Non-GAAP gross margin of 71.2% of revenue
  • GAAP operating margin of 32.2% of revenue; Non-GAAP operating margin of 43.0% of revenue
  • GAAP diluted EPS of $1.15; Non-GAAP diluted EPS of $1.55

Results for the Fiscal Year 2018

  • Revenue totaled $6.2 billion, up 21% year-over-year on a GAAP basis and 19% on a non-GAAP basis
  • GAAP gross margin of 68.3% of revenue; Non-GAAP gross margin of 71.2% of revenue
  • GAAP operating margin of 30.3% of revenue; Non-GAAP operating margin of 42.4% of revenue
  • GAAP diluted EPS of $3.97; Non-GAAP diluted EPS of $5.94
Analog Devices Inc.
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