NORWOOD, Mass. (AP) -- Chip maker Analog Devices Inc.'s profit jumped 44 percent in its fiscal second quarter, as improved industrial and communications segment sales helped boost revenue.
The company said it also raised its quarterly dividend by 14 percent to 25 cents per share. Analog's stock rose in after-hours trading.
The company said Tuesday that net income climbed to $241.8 million, or 78 cents a share, from $167.1 million, or 55 cents a share, in the same period last year.
Excluding the impact of a one-time federal tax benefit, Analog Devices' earnings amounted to 75 cents a share, the company said.
Revenue rose to $790.8 million, up from $668.2 million, a year earlier.
The results beat analysts estimate for earnings of 68 cents a share on revenue of $746.5 million, according to FactSet.
Management cited strength in industrial, automotive and communications infrastructure businesses for the increase in sales for the quarter.
In addition, the company's gross margin hit a new company record at 67.6 percent of revenue.
The company, which makes signal conditioning technology, saw demand pick up, in part, because many suppliers in Japan have experienced delays due to the quake and tsunami that struck Japan in March.
Still, the company said it doesn't expect a repeat of the trend in its fiscal third quarter, as supply appears to have stabilized across the industry.
Looking ahead, Analog Devices expects earnings per share in the fiscal third quarter will range from 70 cents to 75 cents, while revenue will be between $765 million, to $795 million. Analysts are expecting earnings of 70 cents a share on $762.7 million in revenue.
Analog Devices' shares added $1.67, or 4.2 percent, to $41.90 in aftermarket trading Tuesday. The shares ended the regular session down 32 cents at $40.23.