By Matt Grossman
Analog Devices Inc. on Monday raised and narrowed its earnings guidance for the third quarter.
The Norwood, Mass.-based engineering company said it now expects revenue for the quarter of $1.45 billion, plus or minus $30 million, compared with previous guidance of $1.32 billion, plus or minus $70 million. Analysts' consensus forecast had also anticipated revenue of $1.32 billion, according to FactSet.
Analog said it now expects earnings per share of 91 cents, plus or minus 7 cents, and adjusted earnings per share of $1.33 plus, or minus 5 cents. Its previous guidance was for earnings of 72 cents per share, plus or minus 11 cents, and adjusted earnings per share of $1.08, plus or minus 11 cents.
Analysts were also expecting adjusted earnings of $1.08 a share.
The company on Monday morning confirmed an earlier Wall Street Journal report that it plans to acquire Maxim Integrated Products Inc. in an all-stock deal next year.
Write to Matt Grossman at matt.grossman@wsj.com