Analog Devices Inc. (ADI) reported first quarter 2011 non-GAAP diluted earnings per share from continuing operations of 66 cents, a penny more than the Zacks Consensus Estimate of 65 cents. When compared on a sequential basis, earnings were down 9.6% but was up 53.5% from the year ago quarter. Quarterly Highlights Revenue for the quarter of $729.0 million came in line with the Zacks Consensus Estimate. The reported revenue compares favorably with an increase of 21.0% from the previous year quarter but was down 5.0% sequentially. Gross profit increased 30.9% from the year ago quarter to $482.2 million. Gross margin increased 5.1 percentage points from the previous year quarter to 66.2%. Income from continuing opearions was $259 million compared to $286 million in the prior quarter and $166 million on
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