By Will Feuer

Analog Devices Inc. said its profit and sales for the fiscal second quarter rose as the semiconductor company expanded its adjusted operating margins amid a surge in demand and limited supply.

The semiconductor company posted net income of $783.3 million, compared with $422.9 million in the year-ago period. Earnings were $1.49 a share, compared with $1.14 a share.

Adjusted for acquisition-related costs and other one-time items, adjusted earnings were $2.40 a share. Analysts polled by FactSet were expecting adjusted earnings of $2.11 a share.

Sales for the three months ended April 30 rose 79%, to $2.97 billion. Analysts were looking for $2.84 billion, according to FactSet.

The company said adjusted operating margin rose to 50.3% from 41.7%.

"ADI delivered its fifth consecutive quarter of record revenue, illustrating the unprecedented demand for our technologies and our ability to increase output in a challenging supply backdrop," Chief Executive Vincent Roche said.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

May 18, 2022 07:28 ET (11:28 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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