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Linear Technology Reports Improved Sales and Profits Over the Prior Year
Tuesday January 14, 6:30 pm ET
http://biz.yahoo.com/prnews/030114/sftu116_1.html

MILPITAS, Calif., Jan. 14 /PRNewswire-FirstCall/ -- Linear Technology Corporation (Nasdaq: LLTC - News), a leading, independent manufacturer of high performance linear integrated circuits, today announced that net sales for its second quarter ended December 29, 2002, were $145,045,000, an increase of 20% over net sales of $121,266,000 for the second quarter of the previous year. The Company also reported net income for the quarter of $56,163,000 or $0.18 diluted earnings per share, an increase of 22% from $45,965,000 or $0.14 diluted earnings per share reported for the second quarter of last year. A cash dividend of $0.05 per share will be paid on February 12, 2003 to stockholders of record on January 24, 2003. During the quarter, the Company generated $63 million in cash and short-term investments. In addition, cash and short-term investments at December 29, 2002 include $16 million in unrealized gains on investments that the Company classifies as available-for-sale, but in practice primarily holds to maturity.
According to Robert H. Swanson, Chairman of the Board and CEO, "We grew this quarter slightly over the previous quarter and significantly over the similar quarter in the prior year. We continue to be strongly profitable as demonstrated by our 39% return on sales and also strongly cash flow positive. We have turned in these good results during difficult economic times. Lead times and backlog are low and customers continue to order only to near term demand. Therefore, confidently and accurately forecasting short-term future results continues to be difficult. However, the March quarter is customarily stronger for us and we expect some improvement in demand. Consequently, we estimate that sales and profits will grow in mid single digits, 3% to 7%, from the December quarter."

Except for historical information contained herein, the matters set forth in this news release are forward-looking statements that are dependent on certain risks and uncertainties including such factors, among others, as new orders received and shipped during the quarter, timely ramp-up of new facilities, and the timely introduction of new processes and products.

Company officials will be discussing these results in greater detail in a conference call tomorrow, Wednesday, January 15, 2003 at 8:30 a.m. Pacific Coast Time. Those investors wishing to listen in may call 913-981-5507 before 8:15 a.m. to be included in the audience. There will be a live webcast of this conference call that can be accessed through www.linear.com or www.streetevents.com. A replay of the conference call will be available January 15 through January 22, 2003. You may access this post view by calling 719-457-0820 and entering reservation #523827. An archive of the webcast will also be available at www.linear.com and www.streetevents.com as of January 15, 2003 until the next earnings release on April 15, 2003


6:48PM Teradyne exceeds Q4 consensus (TER) 15.48 +0.50: Reports Q4 (Dec) loss of $0.20 per share, before items, $0.02 better than the Multex consensus of ($0.22); revenues rose 51.5% year/year to $333.6 mln vs the $318.9 mln consensus; for Q1 (Mar), sees revs of $310-340 mln and EPS loss of $0.25-0.33, before items (Multex consensus is revs $311.5 mln and $0.18 loss).