Late on Tuesday, Linear Technology Corp. (NASDAQ: LLTC), a manufacturer of high performance linear integrated circuits announced that its second-quarter net income fell to $84.2 million, or 38 cents a share, from $93.8 million, or 41 cents a share, in the corresponding quarter, a year ago. Revenue totaled $249.2 million, down from $288.7 million in the same period a year earlier. Analysts on average expected earnings of 34 cents a share on revenue of $255.8 million for the quarter. The company also increased its quarterly dividend to 22 cents from 21 cents. CEO Lothar Maier stated “Entering the quarter there was greater than usual uncertainty in our revenue guidance in light of the global credit crisis. We continued to see further weakness in our bookings throughout the quarter and as a result, our revenue declined to the low end of our guidance. We reacted to this weakness by reducing labor and related costs through headcount reductions, weekly plant closures and otherwise limiting operating expenditures where possible. He added further "Looking ahead to the March quarter, we believe we have not yet seen the bottom from the economic fallout of the global credit crisis as our bookings continue to be weak in the early part of this quarter. Our current estimate anticipates that our third fiscal quarter revenues will be down in the 15% to 20% range from the second quarter.” Shares of Linear Technology slipped over 3.5% in after hours trade on Tuesday.

EXFO Electro-Optical Engineering Inc. (NASDAQ: EXFO) reported fiscal first quarter net income $5.29 million, compared to a loss of $93 thousand in the year-ago quarter. On per share basis, the company posted earnings of  8 cents for the current quarter, compared to a breakeven in the same quarter last year. Revenue climbed to US$46.36 million from US$40.99 million in the same quarter in 2007.Looking ahead, for the second quarter, the company said that it expects to report GAAP net earnings between US$0.01 per diluted share and US$0.05 per diluted share and revenue between US$45 million and US$50 million. Chairman, President and CEO Germain Lamonde said in a statement “I am quite pleased with our record-high bookings of US$52.3 million and best gross margin in almost eight years in the last quarter, led by very strong growth from our next-generation, IP test equipment and recent service assurance acquisition that we're starting to leverage.” EXFO Electro-Optical Engineering surged over 7% in extended trading.

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