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Analog Devices Reports Strong Fourth Quarter and Fiscal 2025 Financial Results
•Fourth quarter revenue of $3.08 billion, with year-over-year growth across all end markets, led by Communications and Industrial
•Fiscal 2025 revenue of $11.0 billion, up 17% versus 2024
•Fiscal 2025 operating cash flow of $4.8 billion and free cash flow of $4.3 billion or 44% and 39% of revenue, respectively
•Returned 96% of free cash flow to shareholders in fiscal 2025, including $2.2 billion of share repurchases and $1.9 billion of dividends
WILMINGTON, Mass.--November 25, 2025--Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced financial results for its fiscal fourth quarter and fiscal year 2025, which ended November 1, 2025.
“ADI’s strong fourth quarter capped a robust year of both cyclical and idiosyncratic growth,” said Vincent Roche, CEO and Chair. “These results reflect the strength and resilience of our business model, and our intense commitment to leveraging superior technology and domain expertise to solve our customers’ toughest problems. Our keen focus on our customers’ market success has enabled us to build a deep trust that pays dividends in the form of strong, profitable growth and a fast-growing design pipeline. As such, we remain firmly confident in our ability to deliver sustained, long-term value for shareholders.”
“Healthy bookings trends continued in the fourth quarter with growth in Industrial and notable strength in our Communications market. While macro uncertainty will likely influence the shape of our fiscal 2026, we believe we are well positioned to continue capitalizing on the ongoing cyclical recovery and our secular growth opportunities,” said Richard Puccio, CFO.




Performance for the Fourth Quarter and Fiscal Year 2025
Results Summary(1)
(in millions, except per-share amounts and percentages)
Three Months EndedTwelve Months Ended
Nov. 1, 2025Nov. 2, 2024ChangeNov. 1, 2025Nov. 2, 2024Change
Revenue$3,076 $2,443 26 %$11,020 $9,427 17 %
Gross margin$1,942 $1,416 37 %$6,773 $5,381 26 %
Gross margin percentage63.1 %58.0 %510 bps61.5 %57.1 %440 bps
Operating income$945 $569 66 %$2,932 $2,033 44 %
Operating margin 30.7 %23.3 %740 bps26.6 %21.6 %500 bps
Diluted earnings per share$1.60 $0.96 67 %$4.56 $3.28 39 %
Adjusted Results(2)
Adjusted gross margin$2,147 $1,660 29 %$7,641 $6,404 19 %
Adjusted gross margin percentage69.8 %67.9 %190 bps69.3 %67.9 %140 bps
Adjusted operating income$1,338 $1,005 33 %$4,622 $3,853 20 %
Adjusted operating margin43.5 %41.1 %240 bps41.9 %40.9 %100 bps
Adjusted diluted earnings per share$2.26 $1.67 35 %$7.79 $6.38 22 %
Three Months EndedTrailing Twelve Months
Cash GenerationNov. 1, 2025Nov. 1, 2025
Net cash provided by operating activities$1,701 $4,812 
% of revenue55 %44 %
Capital expenditures$(215)$(534)
Free cash flow(2)
$1,486 $4,279 
% of revenue48 %39 %
Three Months EndedTrailing Twelve Months
Cash Return
Nov. 1, 2025Nov. 1, 2025
Dividend paid$(487)$(1,924)
Stock repurchases(680)(2,165)
Total cash returned$(1,167)$(4,089)
(1) The sum and/or computation of the individual amounts may not equal the total due to rounding.
(2) Reconciliations of non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this press release. See also the "Non-GAAP Financial Information" section for additional information.







Outlook for the First Quarter of Fiscal Year 2026

For the first quarter of fiscal 2026, we are forecasting revenue of $3.1 billion, +/- $100 million. At the midpoint of this revenue outlook, we expect reported operating margin of approximately 31.0%, +/- 130 bps, and adjusted operating margin of approximately 43.5%, +/- 100 bps. We are planning for reported EPS to be $1.60, +/- $0.10, and adjusted EPS to be $2.29, +/- $0.10.
Our first quarter fiscal 2026 outlook is based on current expectations and actual results may differ materially as a result of, among other things, the important factors discussed at the end of this release. These statements supersede all prior statements regarding our business outlook set forth in prior ADI news releases, and ADI disclaims any obligation to update these forward-looking statements.
The adjusted results and adjusted anticipated results above are financial measures presented on a non-GAAP basis. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this release. See also the “Non-GAAP Financial Information” section for additional information.

Dividend Payment

The ADI Board of Directors has declared a quarterly cash dividend of $0.99 per outstanding share of common stock. The dividend will be paid on December 22, 2025 to all shareholders of record at the close of business on December 8, 2025.

Conference Call Scheduled for Today, Tuesday, November 25, 2025 at 10:00 am ET

ADI will host a conference call to discuss our fourth quarter and fiscal 2025 results and short-term outlook today, beginning at 10:00 am ET. Investors may join via webcast, accessible at investor.analog.com.

Non-GAAP Financial Information

This release includes non-GAAP financial measures that are not in accordance with, nor an alternative to, U.S. generally accepted accounting principles (GAAP) and may be different from non-GAAP measures presented by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. These non-GAAP measures have material limitations in that they do not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP and should not be considered in isolation from, or as a substitute for, the Company’s financial results presented in accordance with GAAP. The Company’s use of non-GAAP measures, and the underlying methodology when including or excluding certain items, is not necessarily an indication of the results of operations that may be expected in the future, or that the Company will not, in fact, record such items in future periods. You are cautioned not to place undue reliance on these non-GAAP measures. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this release.
Management uses non-GAAP measures internally to evaluate the Company’s operating performance from continuing operations against past periods and to budget and allocate resources in future periods. These non-GAAP measures also assist management in evaluating the Company’s core business and trends across different reporting periods on a consistent basis. Management also uses these non-GAAP measures as primary performance measurements when communicating with analysts and investors regarding the Company’s earnings results and outlook and believes that the presentation of these non-GAAP measures is useful to investors because it provides investors with the operating results that management uses to manage the Company and enables investors and analysts to evaluate the Company’s core business.


Management also believes that free cash flow, a non-GAAP liquidity measure, is useful both internally and to investors because it is indicative of the Company's ability to pay dividends, purchase common stock, make investments and fund acquisitions, and in the absence of refinancings, to repay its debt obligations.
The non-GAAP financial measures referenced by ADI in this release include: adjusted gross margin, adjusted gross margin percentage, adjusted operating expenses, adjusted operating expenses percentage, adjusted operating income, adjusted operating margin, adjusted nonoperating expense (income), adjusted income before income taxes, adjusted provision for income taxes, adjusted tax rate, adjusted diluted earnings per share (EPS), free cash flow, and free cash flow revenue percentage.
Adjusted gross margin is defined as gross margin, determined in accordance with GAAP, excluding: certain acquisition related expenses1, which are described further below. Adjusted gross margin percentage represents adjusted gross margin divided by revenue.
Adjusted operating expenses is defined as operating expenses, determined in accordance with GAAP, excluding: certain acquisition related expenses1 and special charges, net2, which are described further below. Adjusted operating expenses percentage represents adjusted operating expenses divided by revenue.
Adjusted operating income is defined as operating income, determined in accordance with GAAP, excluding: acquisition related expenses1 and special charges, net2, which are described further below. Adjusted operating margin represents adjusted operating income divided by revenue.
Adjusted nonoperating expense (income) is defined as nonoperating expense (income), determined in accordance with GAAP, excluding: certain acquisition related expenses1, which is described further below.
Adjusted income before income taxes is defined as income before income taxes, determined in accordance with GAAP, excluding: acquisition related expenses1 and special charges, net2, which are described further below.
Adjusted provision for income taxes is defined as provision for income taxes, determined in accordance with GAAP, excluding tax related items3, which are described further below. Adjusted tax rate represents adjusted provision for income taxes divided by adjusted income before income taxes.
Adjusted diluted EPS is defined as diluted EPS, determined in accordance with GAAP, excluding: acquisition related expenses1, special charges, net2, and tax related items3, which are described further below.
Free cash flow is defined as net cash provided by operating activities, determined in accordance with GAAP, less additions to property, plant and equipment, net. Free cash flow revenue percentage represents free cash flow divided by revenue.
1Acquisition Related Expenses: Expenses incurred as a result of current and prior period acquisitions and primarily include expenses associated with the fair value adjustments to debt, property, plant and equipment and amortization of acquisition related intangibles, which include acquired intangibles such as purchased technology and customer relationships. Expenses also include fair value adjustments associated with the replacement of share-based awards related to the Maxim Integrated Products, Inc. (Maxim) acquisition. We excluded these costs from our non-GAAP measures because they relate to specific transactions and are not reflective of our ongoing financial performance.
2Special Charges, Net: Expenses, net, incurred as part of the integration of Maxim, in connection with facility closures, consolidation of manufacturing facilities, severance, other accelerated stock-based compensation expense and other cost reduction efforts or reorganizational initiatives. We


excluded these expenses from our non-GAAP measures because apart from ongoing expense savings as a result of such items, these expenses have no direct correlation to the operation of our business in the future.
3Tax Related Items: Income tax effect of the non-GAAP items discussed above, deferred tax expense related to the remeasurement of GILTI-related deferred tax assets and liabilities attributable to the One Big Beautiful Bill Act and certain other income tax expenses associated with prior periods. We excluded the income tax effect of these tax related items from our non-GAAP measures because they are not associated with the tax expense on our current operating results.

About Analog Devices, Inc.

Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, AI, and software technologies into solutions that help drive advancements in automation and robotics, mobility, energy and data centers, and healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $11 billion in FY25, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter (X).

Forward Looking Statements

This press release contains forward-looking statements, which address a variety of subjects including, for example, our statements regarding our 2026 financial performance; expected revenue, operating margin, nonoperating expenses, tax rate, earnings per share, free cash flow returns, and other financial results; expected market and technology trends; market size, market share gains, market position, and growth opportunities; economic and trade uncertainty, tariffs, geopolitical conditions, demand, and other market conditions; business cycles and supply chains; capital expenditures and investments, including those related to digital, software, and artificial intelligence; our opportunity pipeline; expected product solutions, offerings, technologies, capabilities, and applications, including those that may incorporate, or be based upon, software or artificial intelligence technology; the value and importance of, and other benefits related to, our product solutions, offerings, and technologies to our customers, including those that may incorporate, or be based upon, software or artificial intelligence technology; future dividends and share repurchases; and other future events. Statements that are not historical facts, including statements about our beliefs, plans and expectations, are forward-looking statements. Such statements are based on our current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: economic, political, legal and regulatory uncertainty or conflicts; recently announced and future tariffs and other trade restrictions; changes in export classifications, import and export regulations or duties and tariffs; changes in demand for semiconductor products; performance of independent distributors; manufacturing delays, product and raw materials availability and supply chain disruptions; products that may be diverted from our authorized distribution channels; our development of technologies and research and development investments; our ability to compete successfully in the markets in which we operate; our future liquidity, capital needs and capital expenditures; our ability to recruit and retain key personnel; risks related to acquisitions or other strategic transactions; security breaches or other cyber incidents; risks related to the use of artificial intelligence in our business operations, products, and services; adverse results in litigation matters; reputational damage; changes in our estimates of our expected tax rates based on current tax law; risks related to our indebtedness; the discretion of our Board of Directors to declare


dividends and our ability to pay dividends in the future; factors impacting our ability to repurchase shares; and uncertainty as to the long-term value of our common stock. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on Form 10-K. Forward-looking statements represent management’s current expectations and are inherently uncertain. Except as required by law, we do not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances.

Analog Devices and the Analog Devices logo are registered trademarks or trademarks of Analog Devices, Inc. All other trademarks mentioned in this document are the property of their respective owners.




ANALOG DEVICES, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(In thousands, except per share amounts)

Three Months EndedTwelve Months Ended
Nov. 1, 2025Nov. 2, 2024Nov. 1, 2025Nov. 2, 2024
Revenue$3,076,117 $2,443,205 $11,019,707 $9,427,157 
Cost of sales 1,134,300 1,027,077 4,246,229 4,045,814 
Gross margin1,941,817 1,416,128 6,773,478 5,381,343 
Operating expenses:
   Research and development 467,021 378,903 1,766,001 1,487,863 
   Selling, marketing, general and administrative 342,168 277,220 1,255,339 1,068,640 
   Amortization of intangibles187,416 187,754 749,662 754,784 
   Special charges, net— 2,859 69,980 37,258 
Total operating expenses996,605 846,736 3,840,982 3,348,545 
Operating income945,212 569,392 2,932,496 2,032,798 
Nonoperating expense (income):
   Interest expense88,157 82,804 317,716 322,227 
   Interest income(32,971)(27,947)(105,266)(78,817)
   Other, net2,826 (1,793)7,934 12,048 
Total nonoperating expense (income)58,012 53,064 220,384 255,458 
Income before income taxes887,200 516,328 2,712,112 1,777,340 
Provision for income taxes99,461 38,256 444,770 142,067 
Net income$787,739 $478,072 $2,267,342 $1,635,273 
Shares used to compute earnings per share - basic490,847 496,432 494,381 496,166 
Shares used to compute earnings per share - diluted493,242 498,722 496,709 498,697 
Basic earnings per common share$1.60 $0.96 $4.59 $3.30 
Diluted earnings per common share$1.60 $0.96 $4.56 $3.28 



ANALOG DEVICES, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)

(thousands, except per share amounts)Nov. 1, 2025Nov. 2, 2024
ASSETS
Current Assets
Cash and cash equivalents$2,499,406 $1,991,342 
Short-term investments1,152,915 371,822 
Accounts receivable1,436,075 1,336,331 
Inventories1,656,323 1,447,687 
Prepaid expenses and other current assets363,342 337,472 
Total current assets7,108,061 5,484,654 
Other Assets
Net property, plant and equipment3,315,696 3,415,550 
Goodwill26,945,180 26,909,775 
Intangible assets, net8,013,815 9,585,464 
Deferred tax assets1,867,102 2,083,752 
Other assets742,858 749,082 
Total non-current assets40,884,651 42,743,623 
 TOTAL ASSETS$47,992,712 $48,228,277 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable$543,760 $487,457 
Income taxes payable610,370 447,379 
Debt, current— 399,636 
Commercial paper notes446,639 547,738 
Accrued liabilities1,645,032 1,106,070 
Total current liabilities3,245,801 2,988,280 
Non-current Liabilities
Long-term debt8,145,066 6,634,313 
Deferred income taxes2,163,281 2,624,392 
Income taxes payable100,963 260,486 
Other non-current liabilities521,846 544,489 
Total non-current liabilities10,931,156 10,063,680 
Shareholders’ Equity
Preferred stock, $1.00 par value, 471,934 shares authorized, none outstanding— — 
Common stock, $0.16 2/3 par value, 1,200,000,000 shares authorized, 489,654,097 shares outstanding (496,296,854 on November 2, 2024)81,611 82,718 
Capital in excess of par value23,349,185 25,082,243 
Retained earnings10,539,541 10,196,612 
Accumulated other comprehensive loss(154,582)(185,256)
Total shareholders’ equity33,815,755 35,176,317 
 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $47,992,712 $48,228,277 






ANALOG DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In thousands)

Three Months EndedTwelve Months Ended
Nov. 1, 2025Nov. 2, 2024Nov. 1, 2025Nov. 2, 2024
Cash flows from operating activities:
  Net income$787,739$478,072$2,267,342$1,635,273
  Adjustments to reconcile net income to net cash provided by operations:
       Depreciation105,47897,241406,801362,771
       Amortization of intangibles389,865423,2201,592,0441,741,545
       Stock-based compensation expense86,45270,448321,560262,710
       Deferred income taxes(149,327)(97,997)(246,645)(367,563)
       Other(8,413)(776)(9,909)23,050
       Changes in operating assets and liabilities489,01680,609481,009194,743
   Total adjustments913,071572,7452,544,8602,217,256
Net cash provided by operating activities1,700,8101,050,8174,812,2023,852,529
   Percent of revenue55%43%44%41%
Cash flows from investing activities:
  Purchases of short-term investments——(1,150,240)(438,901)
  Maturities of short-term investments—69,279372,77869,279
  Additions to property, plant and equipment, net(215,153)(165,410)(533,552)(730,463)
  Proceeds from sale of property, plant and equipment——58,892—
  Payments for acquisitions, net of cash acquired——(45,652)—
  Other(10,152)(15,483)(23,747)(4,773)
Net cash used for investing activities(225,305)(111,614)(1,321,521)(1,104,858)
Cash flows from financing activities:
  Proceeds from debt——1,490,7851,087,856
  Debt repayments—(499,966)(399,998)(499,966)
  Proceeds from commercial paper notes2,595,1832,474,9489,462,69110,184,439
  Payments of commercial paper notes(2,697,209)(2,474,652)(9,563,790)(10,183,925)
  Dividend payments to shareholders(486,892)(456,756)(1,924,413)(1,795,459)
  Repurchase of common stock(680,472)(94,878)(2,164,638)(615,590)
  Proceeds from employee stock plans4,5844,860108,913121,215
  Other(32,484)(7,449)7,833(12,960)
Net cash used for financing activities(1,297,290)(1,053,893)(2,982,617)(1,714,390)
Net increase (decrease) in cash and cash equivalents178,215(114,690)508,0641,033,281
Cash and cash equivalents at beginning of period2,321,1912,106,0321,991,342958,061
Cash and cash equivalents at end of period$2,499,406$1,991,342$2,499,406$1,991,342




ANALOG DEVICES, INC.
REVENUE TRENDS BY END MARKET
(Unaudited)
(In thousands)

The categorization of revenue by end market is determined using a variety of data points including the technical characteristics of the product, the “sold to” customer information, the "ship to" customer information and the end customer product or application into which our product will be incorporated. As data systems for capturing and tracking this data and our methodology evolves and improves, the categorization of products by end market can vary over time. When this occurs, we reclassify revenue by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each end market.
Three Months Ended
Nov. 1, 2025Nov. 2, 2024
Revenue
% of revenue*
Y/Y %Revenue
% of revenue*
Industrial$1,426,527 46%34%$1,060,763 43%
Automotive852,246 28%19%717,338 29%
Consumer407,543 13%7%379,947 16%
Communications389,801 13%37%285,157 12%
Total revenue$3,076,117 100%26%$2,443,205 100%
Twelve Months Ended
Nov. 1, 2025Nov. 2, 2024
Revenue
% of revenue*
Y/Y %Revenue
% of revenue*
Industrial$4,929,409 45%15%$4,290,324 46%
Automotive
3,277,865 30%16%2,837,522 30%
Consumer1,434,568 13%19%1,207,880 13%
Communications1,377,865 13%26%1,091,431 12%
Total revenue$11,019,707 100%17%$9,427,157 100%
*The sum of the individual percentages may not equal the total due to rounding.





ANALOG DEVICES, INC.
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
(Unaudited)
(In thousands, except per share amounts)

Three Months EndedTwelve Months Ended
Nov. 1, 2025Nov. 2, 2024Nov. 1, 2025Nov. 2, 2024
Gross margin$1,941,817 $1,416,128 $6,773,478 $5,381,343 
  Gross margin percentage63.1 %58.0 %61.5 %57.1 %
      Acquisition related expenses204,748 243,667 867,613 1,022,488 
Adjusted gross margin$2,146,565 $1,659,795 $7,641,091 $6,403,831 
  Adjusted gross margin percentage69.8 %67.9 %69.3 %67.9 %
Operating expenses$996,605 $846,736 $3,840,982 $3,348,545 
  Percent of revenue32.4 %34.7 %34.9 %35.5 %
      Acquisition related expenses(188,013)(188,821)(752,058)(760,325)
      Special charges, net— (2,859)(69,980)(37,258)
Adjusted operating expenses$808,592 $655,056 $3,018,944 $2,550,962 
  Adjusted operating expenses percentage26.3 %26.8 %27.4 %27.1 %
Operating income$945,212 $569,392 $2,932,496 $2,032,798 
  Operating margin30.7 %23.3 %26.6 %21.6 %
      Acquisition related expenses392,761 432,488 1,619,671 1,782,813 
      Special charges, net— 2,859 69,980 37,258 
Adjusted operating income$1,337,973 $1,004,739 $4,622,147 $3,852,869 
  Adjusted operating margin43.5 %41.1 %41.9 %40.9 %
Nonoperating expense (income)$58,012 $53,064 $220,384 $255,458 
      Acquisition related expenses2,150 2,150 8,600 8,600 
Adjusted nonoperating expense (income)$60,162 $55,214 $228,984 $264,058 
Income before income taxes$887,200 $516,328 $2,712,112 $1,777,340 
      Acquisition related expenses390,611 430,338 1,611,071 1,774,213 
      Special charges, net— 2,859 69,980 37,258 
Adjusted income before income taxes$1,277,811 $949,525 $4,393,163 $3,588,811 
Provision for income taxes$99,461 $38,256 $444,770 $142,067 
  Effective tax rate11.2 %7.4 %16.4 %8.0 %
      Tax related items62,616 76,702 78,396 265,697 
Adjusted provision for income taxes$162,077 $114,958 $523,166 $407,764 
  Adjusted tax rate12.7 %12.1 %11.9 %11.4 %
Diluted EPS$1.60 $0.96 $4.56 $3.28 
      Acquisition related expenses0.79 0.86 3.24 3.56 
      Special charges, net— 0.01 0.14 0.07 
      Tax related items(0.13)(0.15)(0.16)(0.53)
Adjusted diluted EPS*$2.26 $1.67 $7.79 $6.38 
* The sum of the individual per share amounts may not equal the total due to rounding.


ANALOG DEVICES, INC.
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW

(Unaudited)
(In thousands)
Trailing Twelve MonthsThree Months Ended
Nov. 1, 2025Nov. 1, 2025Aug. 2, 2025May 3, 2025Feb. 1, 2025
Revenue$11,019,707 $3,076,117 $2,880,348 $2,640,068 $2,423,174 
Net cash provided by operating activities$4,812,202 $1,700,810 $1,165,105 $819,478 $1,126,809 
% of Revenue44 %55 %40 %31 %47 %
Capital expenditures$(533,552)$(215,153)$(79,153)$(90,268)$(148,978)
Free cash flow$4,278,650 $1,485,657 $1,085,952 $729,210 $977,831 
% of Revenue39 %48 %38 %28 %40 %




ANALOG DEVICES, INC.
RECONCILIATION OF PROJECTED GAAP TO NON-GAAP RESULTS
(Unaudited)

Three Months Ending January 31, 2026
ReportedAdjusted
Revenue
$3.1 Billion
$3.1 Billion
(+/- $100 Million)(+/- $100 Million)
Operating margin31.0%
43.5% (1)
(+/-130 bps)(+/-100 bps)
Tax rate12% - 14%12% - 14% (2)
Earnings per share$1.60
$2.29 (3)
(+/- $0.10)(+/- $0.10)

(1) Includes $389 million of adjustments related to acquisition related expenses, as defined in the Non-GAAP Financial Information section of this press release.
(2) Includes $51 million of tax effects associated with the adjustments for acquisition related expenses noted above.
(3) Includes $0.69 of adjustments related to the net impact of acquisition related expenses and the tax effects on those items.

For more information, please contact:

Jeff Ambrosi
781-461-3282
Senior Director, Investor Relations
investor.relations@analog.com