Linear Technology fiscal 3rd-quarter profit more than doubles as chip sales rebound

Linear Technology 3Q profit more than doubles

MILPITAS, Calif. — Linear Technology Corp. said Tuesday that its fiscal third-quarter net income more than doubled as worldwide demand for its microchips rebounded.

Net income for the three months ended March 28 jumped to $100.6 million, or 44 cents per share, from $49.3 million, or 22 cents per share, in the same period last year.

Analysts surveyed by Thomson Reuters had predicted net income of 39 cents per share.

Revenue rose 55 percent to $311.3 million from $200.9 million in the year-ago quarter, higher than the $279.1 million analysts predicted.

Shares jumped 87 cents, or 3 percent, to $30.52 in after-hours trading. Earlier, the stock gained 31 cents to end regular trading at $29.65.