UPDATE 1-Linear Technology Q1 profit misses; sees soft Q2

* Q1 rev $388.6 mln vs est. $383.8 mln

* Q1 EPS $0.59 vs est. $0.62

* Q1 results include one-time charge of $0.02/shr

* Sees Q2 rev flat to down 4 pct sequentially

Oct 12 (BestGrowthStock) – Chipmaker Linear Technology Corp
(LLTC.O: ) posted a quarterly profit that missed analysts’
estimates and said bookings in total were less than in the
previous quarter.

The company, which makes products like amplifiers and
voltage regulators, said there was more uncertainty than in
recent quarters and forecast that revenue will be flat to down
4 percent, sequentially, in the second quarter.

Customers are more confident in their ability to get parts
and, therefore, may continue to adjust inventory levels and
safety stock downward, Linear said in a statement.

The Milpitas, California-based company, whose rivals
include Semtech Corp (SMTC.O: ), said although book-to-bill ratio
was positive in the first quarter, bookings decreased as the
quarter progressed.

For the latest first quarter ended Sept. 26, the company
posted a net income of $137.3 million, or 59 cents a share,
compared with $60.7 million, or 27 cents a share in the
year-ago period.

The results include a one-time pre-tax legal charge of $5.3
million that reduced earnings by about 2 cents a share.

Revenue rose 65 percent to $388.6 million.

Analysts, on average, were expecting a profit of 62 cents a
share on revenue of $383.8 million, according to Thomson
Reuters I/B/E/S.

Shares of Linear Technology were down 2 percent at $30.96
in after-market trading. They closed at $31.56 Tuesday on
(Reporting by Jennifer Robin Raj in Bangalore; Editing by
Unnikrishnan Nair)

UPDATE 1-Linear Technology Q1 profit misses; sees soft Q2