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(ADI-WEB)
| Analog Devices, Second Quarter, Fiscal 2017 | |||||||||||||||
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Schedule A |
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| Revenue and Earnings Summary (Unaudited) | |||||||||||||||
| (In thousands, except per-share amounts) | |||||||||||||||
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Three Months Ended |
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| 2Q 17 | 1Q 17 | 2Q 16 | |||||||||||||
|
April 29,
2017 |
Jan. 28,
2017 |
April 30,
2016 |
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| Revenue | $ | 1,147,982 | $ | 984,449 | $ | 778,766 | |||||||||
| Year-to-year change | 47 | % | 28 | % | (5 | )% | |||||||||
| Quarter-to-quarter change | 17 | % | (2 | )% | 1 | % | |||||||||
| Cost of sales (1) | 507,539 | 335,945 | 267,863 | ||||||||||||
| Gross margin | 640,443 | 648,504 | 510,903 | ||||||||||||
| Gross margin percentage | 55.8 | % | 65.9 | % | 65.6 | % | |||||||||
| Year-to-year change (basis points) | (980 | ) | 390 | (80 | ) | ||||||||||
| Quarter-to-quarter change (basis points) | (1,010 | ) | (50 | ) | 360 | ||||||||||
| Operating expenses: | |||||||||||||||
| R&D (1) | 235,232 | 183,954 | 160,235 | ||||||||||||
| Selling, marketing and G&A (1) | 190,686 | 130,659 | 112,186 | ||||||||||||
| Amortization of intangibles | 68,690 | 18,160 | 17,419 | ||||||||||||
| Special charges | — | 49,463 | 13,684 | ||||||||||||
| Total operating expenses | 494,608 | 382,236 | 303,524 | ||||||||||||
| Total operating expenses percentage | 43.1 | % | 38.8 | % | 39.0 | % | |||||||||
| Year-to-year change (basis points) | 410 | 210 | 300 | ||||||||||||
| Quarter-to-quarter change (basis points) | 430 | 790 | 230 | ||||||||||||
| Operating income | 145,835 | 266,268 | 207,379 | ||||||||||||
| Operating income percentage | 12.7 | % | 27.0 | % | 26.6 | % | |||||||||
| Year-to-year change (basis points) | (1,390 | ) | 170 | (370 | ) | ||||||||||
| Quarter-to-quarter change (basis points) | (1,430 | ) | (860 | ) | 130 | ||||||||||
| Other expense | 59,121 | 32,959 | 12,469 | ||||||||||||
| Income before income tax | 86,714 | 233,309 | 194,910 | ||||||||||||
| (Benefit) provision for income taxes | (6,850 | ) | 16,180 | 24,337 | |||||||||||
| Tax rate percentage | (7.9 | )% | 6.9 | % | 12.5 | % | |||||||||
| Net income | $ | 93,564 | $ | 217,129 | $ | 170,573 | |||||||||
| Shares used for EPS - basic | 341,316 | 308,786 | 308,790 | ||||||||||||
| Shares used for EPS - diluted | 345,654 | 313,076 | 312,250 | ||||||||||||
| Earnings per share - basic | $ | 0.27 | $ | 0.70 | $ | 0.55 | |||||||||
| Earnings per share - diluted | $ | 0.27 | $ | 0.69 | $ | 0.55 | |||||||||
| Dividends paid per share | $ | 0.45 | $ | 0.42 | $ | 0.42 | |||||||||
| (1) Includes stock-based compensation expense as follows: | |||||||||||||||
| Cost of sales | $ | 2,566 | $ | 1,944 | $ | 1,986 | |||||||||
| R&D | $ | 11,910 | $ | 7,021 | $ | 6,646 | |||||||||
| Selling, marketing and G&A | $ | 8,010 | $ | 7,564 | $ | 7,327 | |||||||||
