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Maxim second-quarter revenue rises 8.5% to $540 mln

SAN FRANCISCO (MarketWatch) — Maxim Integrated Products Inc. said late Thursday its fiscal second-quarter revenue rose 8.5% to $540 million from $497.5 million a year earlier. The Sunnyvale, Calif., semiconductor company isn’t providing per-share earnings information for the period ended Dec. 29 because it is restating certain financials to reflect the effects of stock-option grants. Analysts polled by Thomson Financial expected, on average, revenue of $540.1 million. Maxim forecast fiscal third-quarter revenue of $475 million to $475 million, a dip it attributes to seasonality and economic concerns. Maxim also said it will book a one-time $10 million charge, before asset impairment, as its ramps down and eventually closes its water fab in Dallas. The company expects annual cost savings of $18 million. Maxim will also stop funding research and development for the handset RF transceiver product line in a move expected to reduce annual operating expenses by $15 million.
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Original post by Forextvblog

This entry was posted on Thursday, January 31st, 2008 at 5:23 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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