Maxim Integrated Profit Falls, Misses Estimates; Stock Down 5% - Quick Facts

(RTTNews) - Maxim Integrated Products Inc. (MXIM) Thursday reported second-quarter net income of $49 million or $0.17 per share compared with $77 million or $0.26 per share last year.

Excluding items, adjusted earnings for the quarter were $102.5 million or $0.36 per share compared with $125 million or $0.42 per share a year ago.

Revenues for the quarter were $620 million compared with $605 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.39 per share on revenues of $620.74 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the third quarter, the company expects net earnings of $0.28 to $0.32 per share, adjusted earnings of $0.37 to $0.41 per share and revenues of $590 million to $620 million. Analysts expect earnings of $0.41 per share on revenues of $619.38 million.