Last Update: 17-Apr-13 07:49 ET
Linear Tech shares fall 3% following in line earnings
Linear Tech (LLTC $35.60 -1.08) reported third quarter GAAP earnings of $0.46 per share, $0.03 better than the Capital IQ consensus of $0.43, while revenues rose 0.7% year/year to $314.54 million versus the $313.54 mln consensus. Non-GAAP EPS was $0.54 vs $0.44 Capital IQ Consensus Estimate. The current year fiscal quarter benefited from a lower tax rate of 12.75% as compared to 27% in the previous period and 23.75% in the prior year quarter. The Company's tax rate is lower primarily due to the reinstatement of the federal R&D tax credit and secondarily due to the release of estimated tax liabilities for fiscal years that are no longer subject to audit. During the third quarter the Company's cash, cash equivalents and marketable securities increased by $155.1 million over the second quarter of fiscal year 2013 to $1.455 billion net of spending $24.2 million to purchase approximately 640,000 shares of its common stock in the open market.Co sees Q4 revs +1% to 4% QoQ (calcs to ~$317.65-327.08 million versus the $329.36 million Capital IQ Consensus Estimate).
Linear Tech (LLTC $35.60 -1.08) reported third quarter GAAP earnings of $0.46 per share, $0.03 better than the Capital IQ consensus of $0.43, while