Maxim Integrated Products Q2 Profit Tops Estimates - Quick Facts

(RTTNews) - Maxim Integrated Products, Inc. (MXIM) reported a second-quarter net loss of $72.034 million or $0.25 per share, compared to net income of $44.35 million or $0.15 per share, prior year. The company noted that its results were affected by pre-tax special items which primarily consisted of $138 million in charges related to impairment of goodwill and other assets related to MEMS business, $28 million in charges related to restructuring activities and $23 million in charges related to acquisitions. Adjusted earnings per share was $0.33, for the quarter.

On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $0.30 for the quarter. Analysts' estimates typically exclude special items.

Net revenues decreased to $566.81 million from $620.27 million last year. Analysts expected revenue of $560.49 million for the quarter.

Based on the beginning backlog and expected turns, the company expects results for the March 2015 quarter to be: revenue in the range of $565 million to $605 million; and EPS of $0.20 to $0.26 GAAP, and $0.32 to $0.38 excluding special items. Analysts expect the company to report third-quarter earnings per share of $0.33 on revenue of $570.01 million.