Analog Devices announced financial results for the third quarter of fiscal 2007. Revenue increased to $680 million, an increase of approximately 3% compared to the same period one year ago and 2% compared to the immediately prior quarter. Net income for the third quarter of fiscal 2007, under generally accepted accounting principles (GAAP), was $120 million, or 18% of sales, compared to $145 million for the same period one year ago and $125 million for the immediately prior quarter.

Analog product revenue, which comprised 84% of total revenue in the third quarter, increased 3% compared to the immediately prior quarter. The sequential revenue growth was driven by the data converter, amplifier, power management, and radio frequency product categories. General-purpose digital signal processing (DSP) product revenue, which comprised 8% of total revenue in the third quarter, increased 7% compared to the immediately prior quarter. Revenue from the broad based industrial end market comprised 43% of total sales in the third quarter. Revenue from industrial instrumentation and test equipment customers increased compared to the immediately prior quarter, while revenue from other industrial applications declined.

Overall, revenue from industrial customers was flat in the third quarter compared to the immediately prior quarter. Revenue from communications infrastructure customers increased in the third quarter compared to the immediately prior quarter driven by 13% growth in revenue from basestation and networking equipment customers. Revenue from consumer and computer customers increased 3% and 9%, respectively, in the third quarter compared to the immediately prior quarter.