Jerald Fishman Analog Devices

ADI (Norwood, Mass.) said fiscal fourth quarter sales amounted to $571.6 million, up 16 percent from the previous quarter but down 13 percent compared to the year-ago quarter. Analysts were expecting, on average, for ADI to report revenue of just below $524 million, according to Yahoo Finance.

ADI reported a net income for the quarter of $105.6 million, up 61 percent compared to the previous quarter but down 27 percent compared to the year-ago period.

"The fourth quarter was strong across all dimensions for ADI, with revenue growing 16 percent sequentially, driven by continued momentum in automotive and consumer sales as well as a solid increase in revenue from our broad base of industrial customers," said Jerald Fishman, ADI president and CEO, in a statement.

For its fiscal 2009, also ended Oct. 31, ADI reported revenue of $2 billion, down 22 percent compared to fiscal 2008. The company reported a net income for the fiscal year of $247.8 million, down from $786.3 million in fiscal 2008.

Fishman said ADI expects revenue for the current quarter to be approximately flat with fiscal fourth quarter revenue of $571.6 million, which would represent a 20 percent increase compared to the year-ago quarter. The company expects industrial revenue to continue growing sequentially in the fiscal first quarter, but expects automotive and communications sales to be relatively flat and consumer sales to decline sequentially, Fishman said.

Consensus analyst estimates for ADI's fiscal fourth quarter revenue were about $532 million, according to Yahoo Finance.