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Analog Devices Earnings Dropped 50%

August 20, 1998

Analog Devices Inc., maker of chips that translate analog signals into digital, said fiscal third-quarter profit plunged 50% to $30.1 million, or 15 cents a share, missing forecasts by 4 cents. Sales fell 11% to $295 million. The company said in July its profit would fall because of slowing demand from Asian companies. Analog also said it will shut some plants and cut expenses because it expects fourth-quarter sales to be unchanged from the third quarter. Analog Devices' shares fell $2.75 to close at $21.50 on the NYSE.

Other earnings reports, excluding one-time gains and charges, include:

* Lycos Inc. reported a loss of $1.61 million, or 9 cents a share, for the fiscal fourth quarter, better than the 13-cent loss forecast, as the Internet search service's revenue more than doubled to $19 million from $7.75 million on growth in electronic commerce and advertising. Lycos lost $575,352, or 4 cents a share, in the year-earlier period. The results were released after the close of trading.

* Consolidated Stores Corp.'s fiscal second-quarter earnings rose 12% to $6.5 million, or 6 cents a diluted share, matching forecasts, as it kept costs in check while sales slowed at its Odd Lots and Big Lots bargain stores. Consolidated, which also operates Pic 'N' Save and KB Toys outlets, said revenue rose 2.8% to $823.9 million.

* Dresser Industries Inc. said its fiscal third-quarter profit rose 24% to $108.8 million, or 61 cents a diluted share, exceeding estimates of 57 cents, on earnings from production-related services to oil companies. The nation's third-largest oil-field services company said revenue advanced 12% to $2.1 billion. In February, Dresser agreed to be acquired by Halliburton Co. for $8.9 billion, forming the world's largest oil-field service company based on revenue.

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