- Revenue: $720 million
- Gross Margin: 67.2% GAAP (67.7% excluding special items)
- EPS: $0.93 GAAP ($0.91 excluding special items)
SAN JOSE, CA.-- July 27, 2021
-- Maxim Integrated Products, Inc. (NASDAQ:MXIM) reported net revenue of $720 million for its
fourth quarter of fiscal 2021 ended June 26, 2021, an 8% increase from the $665 million
revenue recorded in the prior quarter, and a 32% increase from the same quarter of last year.
“Maxim delivered record revenue in the June quarter, with sequential growth in all end markets, led by Industrial,
Automotive, and Comms & Data Center. On the merger front, we are seeking final regulatory clearance for our
combination with Analog Devices,” said Tunc Doluca, President and Chief Executive Officer.
Fiscal Year 2021 Fourth Quarter Results
Based on Generally Accepted Accounting Principles (GAAP), diluted earnings per share in the June quarter was
$0.93, which benefited from a $13 million tax reserve release. The results were affected
by $6 million in pre-tax special items which primarily consisted of $4 million of
expenses related to prior acquisitions and $2 million in charges related to our upcoming combination
with Analog Devices. GAAP earnings per share, excluding special items was $0.91. An analysis of GAAP
versus GAAP excluding special items is provided in this press release.
Cash Flow Items
At the end of the fourth quarter of fiscal 2021, total cash, cash equivalents and short-term investments were
$2.3 billion, up $257 million from the prior quarter. Notable items included:
- Cash flow from operations: $280 million
- Capital expenditures: $20 million
Trailing twelve months free cash flow was $859 million. Free cash flow is a non-GAAP measure and
is defined by cash flow from operations less capital expenditures.
Dividend and Stock Repurchase
Per the terms of the Merger Agreement between the Company and Analog Devices, we will not declare a dividend
that would have been paid in September 2021 and our stock repurchase program remains suspended.
Due to the pending merger with Analog Devices, Maxim Integrated will not be hosting a quarterly earnings
conference call and has suspended the practice of providing forward-looking guidance. Investors are requested to
review our Investor Relations website for the quarterly financial highlights and SEC filings for the latest
updates on the pending transaction with Analog Devices.
Financial Statements
For further information and disclosures, please see Maxim's press release.