Analog Devices Announces Financial Results for the First Quarter of Fiscal Year 2007

  Summary of Estimated Stock-based Compensation, Restructuring- and
  Acquisition-Related Expenses for the Second Quarter Ending May 5,
                                 2007
               (In thousands, except per-share amounts)

Our GAAP results for the second quarter of fiscal 2007 are expected to
 include the following estimated amounts of stock-based compensation
 expense related to the adoption of FAS123R, restructuring-related
 expense and acquisition-related expense. The provision for taxes has
 been adjusted, as appropriate, to reflect the estimated tax effect of
 these items.


                Stock-Based    Restructuring- Acquisition-   Total
                 Compensation     Related       Related     Estimated
                   Expense         Expense       Expense    Impact on
                                                              GAAP
                                                             Income
                                                            Statement
--------------- ------------- --------------- ------------ ----------
Cost of Sales        $(2,855)                     $(2,103)   $(4,958)
--------------- ------------- --------------- ------------ ----------
Gross Margin           2,855               -        2,103      4,958
--------------- ------------- --------------- ------------ ----------
Operating
 Expenses:
   R&D                (8,451)              -            -     (8,451)
   Selling,
    Marketing
    and G&A           (7,427)              -         (700)    (8,127)
   Special
    Charges                -          (7,000)           -     (7,000)
--------------- ------------- --------------- ------------ ----------
Operating
 Income               18,733           7,000        2,803     28,536
--------------- ------------- --------------- ------------ ----------
Income Before
 Tax                  18,733           7,000        2,803     28,536
Provision for
 Taxes                 5,503           2,450          682      8,635
--------------- ------------- --------------- ------------ ----------
Net Income           $13,230          $4,550       $2,121    $19,901
=============== ============= =============== ============ ==========
Earnings per
 Share -
 Diluted
 Decrease             $0.039          $0.013       $0.006     $0.058

Reconciliation of Non-GAAP Financial Measures to Their Most Directly
                   Comparable GAAP Financial Measure

                                                  Estimated Range for
                                                   Three Months Ending
                                                       May 5, 2007
                                                  --------------------
                                                       Low / High
                                                  --------------------

Product Revenue                                   $640,000 / $670,000

GAAP Gross Margin as a % of Product Revenue          57.7% / 58.3%
      Stock-Based Compensation Expense                  $2,855
      Acquisition-Related Expense                       $2,103
Non-GAAP Gross Margin as a % of Product Revenue      58.5% / 59.0%


GAAP Diluted Earnings Per Share                      $0.31 / $0.36
      Stock-Based Compensation Expense                   0.04
      Restructuring-Related Expense                      0.01
      Acquisition-Related Expense                        0.01
                                                            --------------------
Non-GAAP  Diluted  Earnings  Per  Share                                    $0.37  /  $0.42
                                                                                                    ====================
 


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