Analog Devices Provides a Business Update Related to COVID-19
26 Março 2020 - 9:00AM
Business Wire
Analog Devices, Inc. (Nasdaq: ADI) today provided a business
update related to the coronavirus (COVID-19) pandemic.
The economic and social effects caused by COVID-19 are currently
creating supply chain disruption and uncertainty around future
demand. While customer demand in the quarter has been resilient, it
has become increasingly difficult to quantify and forecast the
business impact of COVID-19. As a result, ADI believes it is
prudent to withdraw the company’s outlook for the fiscal second
quarter, ending May 2, 2020.
“During this rapidly evolving situation, our top priority is the
health and safety of our employees and the communities in which we
operate. As an organization we are stepping up to combat the
COVID-19 pandemic by partnering with our customers and world-class
healthcare organizations to deploy our innovative healthcare
diagnostics solutions,” said Vincent Roche, President and CEO of
Analog Devices. “We remain steadfastly committed to supporting our
customers, suppliers, and partners to the best of our ability in
this unprecedented environment.”
Roche continued, “Throughout ADI’s 55-year history, we have
encountered several “Black Swan” events. I am confident we will
successfully navigate this one as we have done before given the
strength of our talent, technology, and customer and supplier
relationships, in addition to our sound financial position. While
our team is moving with speed and agility to embrace these
short-term challenges, we remain focused on investing in ADI for
the long-term and we will emerge from this pandemic stronger.”
The company will provide a further update during its second
quarter earnings release and call in May 2020.
About Analog Devices
Analog Devices (Nasdaq: ADI) is a leading global
high-performance analog technology company dedicated to solving the
toughest engineering challenges. We enable our customers to
interpret the world around us by intelligently bridging the
physical and digital with unmatched technologies that sense,
measure, power, connect and interpret. Visit
http://www.analog.com.
Forward Looking Statements
This press release contains forward-looking statements,
including our statements regarding our business outlook for the
second quarter of fiscal 2020 and beyond, the potential impacts of
COVID-19 on our business and operations, future prospects and
demand for our business, including our healthcare business, and the
semiconductor industry generally. Statements that are not
historical facts, including statements about our beliefs, plans and
expectations, are forward-looking statements. Such statements are
based on our current expectations and are subject to a number of
factors and uncertainties, which could cause actual results to
differ materially from those described in the forward-looking
statements. The following important factors and uncertainties,
among others, could cause actual results to differ materially from
those described in these forward-looking statements: the level of
demand for our products; the course and impacts of the COVID-19
pandemic; global political and economic uncertainty, including any
faltering in global economic conditions or the stability of credit
and financial markets, erosion of consumer confidence and declines
in customer spending, unavailability of raw materials, services,
supplies or manufacturing capacity, changes in geographic, product
or customer mix; changes in export classifications, import and
export regulations or duties and tariffs; changes in our estimates
of our expected tax rate based on current tax law; our ability to
successfully integrate acquired businesses and technologies; the
risk that expected benefits, synergies and growth prospects of
acquisitions may not be fully achieved in a timely manner, or at
all; adverse results in litigation matters; and the risk that we
will be unable to retain and hire key personnel. For additional
information about factors that could cause actual results to differ
materially from those described in the forward-looking statements,
please refer to our filings with the Securities and Exchange
Commission (“SEC”), including the risk factors contained in our
most recent Quarterly Report on Form 10-Q and Annual Report on Form
10-K. Forward-looking statements represent management’s current
expectations and are inherently uncertain. Except as required by
law, we do not undertake any obligation to update forward-looking
statements made by us to reflect subsequent events or
circumstances.
(ADI-WEB)
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version on businesswire.com: https://www.businesswire.com/news/home/20200326005151/en/
Michael Lucarelli 781-461-3282 Sr. Director of Investor
Relations investor.relations@analog.com
Analog Devices (NASDAQ:ADI)
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