MANHASSET, N.Y. Analog IC supplier Linear Technology Corp. posted net earnings of $121 million, or 39 cents per share, on sales of $290.7 million in its third 2005 fiscal quarter ended April 3, compared to $85.5 million, or 27 cents per share on sales of $209.1 million in the year-ago quarter.
Linear (Milpitas, Calif.) included in its net income royalty revenue of $40 million, representing past royalties received under a settlement and license agreement with another company. The company expects to earn further royalties, dependent on sales of licensed products, quarterly from July 2005 through June 2013.
"Linear Technology completed a solid quarter, further enhanced by the settlement and license agreement," said Lothar Maier, Linear's chief executive, in a statement. "Product sales were similar to last quarter, whereas bookings improved slightly during the quarter."
"We expect sequential product revenues in the June quarter to increase 2 to 3 percent over the quarter just ended," Maier said. "Consequently, we expect total revenue in the range of $255 million to $258 million."
Separately, MIPS Technologies Inc. (Mountain View, Calif.) said revenue for the third quarter of fiscal 2005 was $16.8 million, compared to $12.6 million for the same quarter a year ago.
Net income for the third quarter of fiscal 2005 was $4.0 million, compared to a net income of $1.2 million for the same quarter a year ago. Net income per share on a diluted basis for the third quarter of fiscal 2005 was $0.09 compared to a net income per share of $0.03 for the same quarter a year ago.