Maxim Integrated Products, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter Ended March 28, 2015; Provides Earnings Guidance for the Second and Fourth Quarter of Fiscal 2015; Provides Capital Expenditures Guidance for the Fiscal Year 2015
Apr 23 15
Maxim Integrated Products, Inc. announced unaudited consolidated earnings results for the third quarter ended March 28, 2015. For the quarter, the company reported GAAP net income of $79.4 million or $0.28 per share, compared with the prior-year period's $122.5 million or $0.42 per share. Adjusted net income was $114.2 million or $0.40 per share, ex one-time items, compared to $123.13 million or $0.43 per share in the same quarter the previous year. Revenue was $577.3 million, down from $605.7 million in the same quarter last year. GAAP operating income, excluding special items, was $144 million or 25% of revenue. This increased from 22% in the prior quarter. Cash flow from operations was $182,064,000 compared to $211,698,000 a year ago. Operating income was $105,450,000 compared to $106,738,000 a year ago. Income before provision for income taxes was $99,916,000 compared to $111,912,000 a year ago. Purchase of property, plant and equipment was $10,185,000 compared to $26,407,000 a year ago. The results were affected by pre-tax special items which primarily consisted of $23 million in charges related to acquisitions and $17 million in charges related to restructuring activities.
For the second quarter, results are expected to be as follows: Revenue in the range of $570 million to $610 million, gross margin in the range of 53% to 56% GAAP (58% to 61% excluding special items) and EPS in the range of $0.24 to $0.30 GAAP ($0.35 to $0.41 excluding special items).
For the fourth quarter of fiscal 2015 gross margin, excluding special items, is forecasted at 58% to 61%, flat from the prior quarter as factory utilization remains low. GAAP earnings per share, excluding special items, the company expects a range of $0.35 to $0.41.
For fiscal year 2015, growth capital additions are expected to be at the low end of its target range of 3% to 5% of revenue. Due to the sale of capital assets, net capital expenditures are expected to be well below the low end of its target range.
Maxim Integrated Seeks Acquisitions
Apr 23 15
Maxim Integrated Products, Inc. (NasdaqGS:MXIM) is looking for acquisitions. Tunc Doluca, Chief Executive Officer of Maxim Integrated states, "Maxim has got a long track record of success as a leading analog chip company. And right now, our focus is on executing on our strategy and delivering shareholder value. Our eyes are always open to look at acquisitions as a way of growth as well."
Maxim Integrated Products, Inc. Announces Integrated IO-Link Temperature Sensor
Apr 6 15
Maxim Integrated Products, Inc. announced that MAXREFDES42# IO-Link Reference Design has integrated analog front end that measures temperature while detecting overvoltage, shorts, and open circuits. Temperature appears on LED display for snapshot of coarse temperature values. During operation over temperature range of -40 to 150°C, system consumes less than 30 mW by utilizing DC-DC step-down converter. Device supports all 3 IO-Link speeds and is available for use with 2-, 3-, or 4-wire PT100 RTD. The new MAXREFDES42# IO-Link resistance temperature detector (RTD) joins the company's portfolio of other IO-Link reference designs for industrial control and automation. This design's highly integrated analog front end (AFE) measures temperature, while detecting overvoltage, shorts, and open circuits. This is a set of capabilities not found in competitive discrete solutions. The reference design consumes minimal power and provides better than +/-0.5°K accuracy. The temperature appears immediately on an LED display for a quick and convenient snapshot of coarse temperature values. For user convenience, MAXREFDES42# fits in a standard industrial form factor. For versatility, it supports all three IO-Link speeds--no other competing device can do this. The MAXREFDES42# is available for use with a 2-wire, 3-wire, or 4-wire PT100 RTD over a wide temperature range. Applications include air, gas, and liquid temperature measurement. The configuration software for this smart IO-Link temperature detector was developed in collaboration with IQ(2) Development. The MAXREFDES42# uses their IO-Link device stack to communicate with any IO-Link version 1.1-compliant master. This software control lowers operating cost because it enables fast setup, diagnosis, and event monitoring from a PC and without a trip to the installation site. Maintenance can be done at the PC and not on the floor. Key Advantages: Low Power: during operation over a temperature range of -40°C to 150°C, the system consumes less than 300mW of power by utilizing an industrial DC-DC step-down converter. Highly Integrated: integrated into the front-end is the MAX31865 RTD-to-digital converter which provides flexibility, robustness, and optimal performance for an IO-Link platform. Cost Savings: PC control with IQ(2) software saves configuration and maintenance cost and increases uptime. Availability and Pricing: The MAXREFDES42# reference design is available for $99.