Analog Devices said revenue for the three months ended February 1, 2025 decreased 4% compared with the same period of the prior fiscal year. The company cited the impact of an additional 1 weeks of operations included in the prior-year Q1 as a primary factor, and noted that the Industrial end market decline was also due to the continued reduction in customers' inventory balances.

1. 01

   Analog Devices said revenue for the three months ended February 1, 2025 decreased 4% compared with the same period of the prior fiscal year. The company cited the impact of an additional 1 weeks of operations included in the prior-year Q1 as a primary factor, and noted that the Industrial end market decline was also due to the continued reduction in customers' inventory balances.

2. 02

   Analog Devices said gross margin for the 3 months increased 30 basis points from the same period of the prior fiscal year, citing a decrease in amortization expense related to acquired intangible assets. The company said net income decreased as a result of a $94.7 million decrease in operating income, partially offset by a $16.8 million decrease in nonoperating expense and a $6.4 million decrease in provision for income taxes.

3. 03

   As of February 1, 2025, Analog Devices said cash, cash equivalents and short-term investments totaled $2.7 billion, of which approximately $1.4 billion was held in the United States. The company said the maximum aggregate face amount under its commercial paper program is $2.5 billion, with $548.4 million of outstanding borrowings.

4. 04

   On February 18, 2025, the Board of Directors authorized the company to repurchase an additional $10.0 billion of common stock, bringing the total remaining share repurchase authorization to approximately $11.5 billion. The Board also declared a cash dividend of $0.99 per outstanding share of common stock on the same day, with the dividend expected to total approximately $491.0 million.

Key figures

Quarter ended February 1, 2025

Revenue

$2.4B

Operating income

$491M

Net income

$391M

EPS

$0.78

Gross profit

$1.4B

Operating cash flow

$1.1B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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