Linear Technology Profit Falls

Linear Technology Corp. said profit fell 13% in the quarter ended September on lower bookings as customers reacted to a sluggish global economy.

The Milpitas, Calif., chip maker said Tuesday it remains cautious regarding the economic climate, but forecast revenue for the second quarter—historically weak for the company—to be between flat and up 3% from last year, topping analysts' expectations of a 4% decline.

Shares rose 3.2% in after-hours trading.

Linear Technology is a maker of analog chips. Such chips are designed for specific tasks, such as monitoring temperature or regulating voltage, and are used in a broad range of sectors.

For the latest quarter, the company reported a profit of $112 million, or 46 cents a share, down from $129.5 million, or 53 cents, a year earlier. Analysts polled by Thomson Reuters had forecast earnings of 46 cents.

Revenue dropped 7.9% to $341.9 million. In July, the company said it expected revenue to decline to a range of $333.9 million to $352.9 million, citing in part a decline in bookings received in the June quarter.

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October 13, 2015 19:25 ET (23:25 GMT)

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