Analog Devices, Inc. revised earnings guidance for first quarter of 2016. The company expected revenue in the first quarter of fiscal 2016 to be in the range of $745 million to $765 million compared to the company's previous forecast of $805 million to $855 million. The lowered revenue outlook is the result of weaker than forecasted customer demand in the company's portable consumer business unit, which began in December, and is expected to continue into the second fiscal quarter.

The company announced revised tax rate guidance of GAAP of 10% and Non-GAAP of 13%. Revised GAAP earnings per share were $0.47 to $0.51. Revised Non-GAAP earnings per share were $0.51 to $0.55.

Non-GAAP net interest expense in the first quarter is expected to be approximately $10 million, and $15 million per quarter thereafter, as a result of the company's recent $1.25 billion debt offering. The company expected GAAP interest & other expenses to be $13 million.