AP NEWS

Maxim: Fiscal 1Q Earnings Snapshot

October 29, 2019

SAN JOSE, Calif. (AP) _ Maxim Integrated Products Inc. (MXIM) on Tuesday reported fiscal first-quarter net income of $140.2 million.

The San Jose, California-based company said it had net income of 51 cents per share. Earnings, adjusted for one-time gains and costs, were 52 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The chipmaker posted revenue of $533 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $530.6 million.

For the current quarter ending in January, Maxim expects its per-share earnings to range from 49 cents to 57 cents.

The company said it expects revenue in the range of $525 million to $565 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $532.1 million.

Maxim shares have risen 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $58.58, a climb of 21% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MXIM at https://www.zacks.com/ap/MXIM