Analog Devices Reports Record Q1 Fiscal 2022 Results
February 16, 2022 | Business WireEstimated reading time: 1 minute
Analog Devices, Inc., a leading global high-performance analog technology company, has announced financial results for its first quarter of fiscal 2022, which ended January 29, 2022.
Highlights:
- Revenue of $2.68 billion with double digit year-over-year growth across all end markets
- Operating cash flow of $3.16 billion and free cash flow of $2.78 billion or 33% of revenue on a trailing twelve-month basis
- Completed $2.5 billion accelerated share repurchase program, retiring 14.4 million shares
- Announced 10% dividend increase, marking 19th raise in the past 18 years
“ADI delivered its fourth consecutive quarter of record revenue with momentum across all end markets and geographies. The growing demand for our solutions and our commitment to operational excellence enabled adjusted gross margin, operating margin and EPS to achieve new highs,” said Vincent Roche, President and CEO. “With higher bookings and backlog as well as additional capacity investments, I am confident we will sustain this level of performance throughout 2022.”
Roche continued, “Our high-performance analog, mixed signal and power technologies are increasingly vital to our customer’s digitalization journeys. Through years of strategic investment, both organic and inorganic, we’ve built an unparalleled performance-leading portfolio equipped to capitalize on the increasing demand surrounding secular megatrends such as automation, electrification, and advanced connectivity. Our unwavering commitment to innovation will play a pivotal role in accelerating these trends, ultimately delivering value to our customers and shareholders.”
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