Linear Technology Corp (LLTC), the manufacturer of performance linear integrated circuits, has posted a 27.26 percent increase in profit for the quarter ended Jun. 29, 2014.
The company earned $129.74 million or $0.53 a share in the fourth quarter compared with $101.94 million or $0.43 a share a year ago. Adjusted non-GAAP earnings per share came in at $0.59, when analysts expected $0.51.
Revenue during the fourth quarter grew 11.66 percent to $365.43 million from $327.26 million in the last year period.
Gross margin expanded by 88 basis points over the previous year period to 76.03 percent. Total expenses as a percentage of revenues decreased to 53.03 percent from 55.06 percent in the same period last year. That has resulted in improvement of 203 basis points in operating margins to 46.97 percent.
The company disclosed operating income of $171.64 million compared with $147.08 million in the last year period.
Linear Technology Corp has witnessed an increase in the working capital over the last one year. The company's working capital stood at $1149.60 million as at Jun. 29, 2014, up $381.59 million or 49.69 percent from $768.01 million on Jun. 30, 2013. It registered an increase in current ratio to 6.34 as at Jun. 29, 2014 from 1.75 on Jun. 30, 2013.
Commenting on the outlook, Lothar Maier, CEO said, "We believe we have good momentum heading into the new fiscal year as our book to bill ratio for the quarter was positive and improved over the previous quarter. We are excited about our position and growth prospects heading into the new fiscal year. We believe we are in the right end-markets with the right innovative products to take advantage of our positioning. Historically, the first fiscal quarter is a seasonally weaker period for us, but given our current bookings level and backlog we are currently forecasting revenue growth in our first quarter of fiscal 2015 of 1% to 3% sequentially over the prior quarter which would be 8% to 11% on an annual basis over the same quarter in the prior year."
Shares of Linear Technology Corp rose $0.35 or 0.74 percent to close at $ 47.67 on Tuesday.
