According to EENews, ADI announced a series of strong fourth quarter financial results, reflecting the company's exposure to the still relatively active industrial, automotive and communications industries.
In the quarter ended October 29, the company had sales of $3.25 billion and net profit of $936 million, exceeding expectations. Sales revenue increased by 38.8% over the same period last year and 4.5% over the previous quarter.
Throughout the financial year, ADI Semiconductor achieved a sales volume of 12 billion US dollars, an increase of 64% over the previous financial year, which reflects that ADI Semiconductor will acquire Meixin Company. During the year, ADI Semiconductor achieved record revenues in the business to business sector serving industry, automotive and communications.
Vincent Roche, CEO and Chairman, said in a statement: "ADI Semiconductor has achieved record revenue for seven consecutive quarters, bringing the year 2022 to a successful end. Our industrial, automotive and communications enterprises have set a record high for the enterprise market, while our consumer business has ushered in a year of strong growth. Our team's execution and strong operational leverage make this the most profitable year in the history of ADI Semiconductor, although the economic background continues to bring uncertain demand Qualitative, but we are in a favorable position in the short term. The order is stable, the inventory is sufficient, and the design winning momentum continues. "
ADI Semiconductor predicted a small seasonal decline in the first quarter of fiscal year 2023, with a fluctuation of $100 million around $3.15 billion.