Investor Relations

SEC Filings

Date Filing Type Description Download / View

    Financial Results


    Quarterly Highlights

    • Revenue: $623 million
    • Gross Margin: 65.8% GAAP (67.6% excluding special items)
    • EPS: $0.27 GAAP loss ($0.65 gain, excluding special items)
    • Fiscal third quarter revenue outlook: $620 million to $660 million (See Business Outlook section)
    • Quarterly dividend increased 17% to $0.42 per share

    SAN JOSE, CA.-- January 25, 2018 -- Maxim Integrated Products, Inc. (NASDAQ:MXIM) reported net revenue of $623 million for its second quarter of fiscal 2018 ended December 30, 2017, an 8% increase from the $576 million revenue recorded in the prior quarter, and a 13% increase from the same quarter of last year.

    Tunc Doluca, President and Chief Executive Officer, commented, “We are pleased with our performance in the December quarter. Compared to the same quarter last year, revenue growth was led by double-digit increases in Industrial and Automotive with continued solid company profitability.” Mr. Doluca continued, “Looking forward, we expect another strong revenue quarter in our March quarter with significant growth in Automotive, Industrial and Consumer compared to the same quarter last year. Our profitability and revenue growth are enabling exceptionally strong earnings performance and cash flow, giving us confidence to increase our return of capital to shareholders.”

    Fiscal Year 2018 Second Quarter Results

    Based on Generally Accepted Accounting Principles (GAAP), loss per share in the December quarter was $0.27. The results were affected by pre-tax special items which primarily consisted of $12 million in charges related to acquisitions and $6 million in charges related to restructuring activities as well as tax special items consisting of $244 million in charges due to corporate tax reform. GAAP earnings per share, excluding special items was $0.65. An analysis of GAAP versus GAAP excluding special items is provided in the last table of this press release.

    Cash Flow Items

    At the end of the second quarter of fiscal 2018, total cash, cash equivalents and short term investments were $2.82 billion, an increase of $49 million from the prior quarter. Notable items included:

    • Cash flow from operations: $230 million
    • Gross capital expenditures: $22 million
    • Dividends paid: $101 million ($0.36 per share)
    • Stock repurchases: $77 million

    Trailing twelve months free cash flow was $849 million. Free cash flow is a non-GAAP measure and is defined by net cash flow from operations less gross capital expenditures.

    Business Outlook

    The Company’s 90-day backlog at the beginning of the March 2018 quarter was $446 million. Based on the beginning backlog and expected turns, our results for the March 2018 quarter are forecasted to be as follows:

    • Revenue: $620 million to $660 million
    • Gross Margin: 64% to 66% GAAP (66% to 68% excluding special items)
    • EPS: $0.63 to $0.69 GAAP ($0.66 to $0.72 excluding special items)

    Maxim Integrated's business outlook does not include the potential impact of any special items related to restructuring activity, acquisitions, or other business combinations that may be completed during the quarter.


    Our Board of Directors approved a 17% increase in the quarterly dividend. A cash dividend of $0.42 per share will be paid on March 15, 2018, to stockholders of record on March 1, 2018.

    Financial Statements

    For further information and disclosures, please see Maxim's press release.

    $849 Million

    TTM Free Cash Flow at 36% of Revenue

    Analyst Coverage

    Firm Analyst
    Bank of America Merrill Lynch (US) Arya, Vivek
    Barclays Capital Inc. Curtis, Blayne P.
    Bloomberg Ho, Woo Jin
    BMO Capital Markets (Canada) Srivastava, Ambrish
    B. Riley & Co., LLC Ellis, Craig A.
    Citi Investment Research (US) Danley, Christopher
    Cleveland Research Company Rottinghaus, Kevin G.
    Credit Suisse Securities (USA) LLC Pitzer, John W.
    Deutsche Bank Securities Inc. Seymore, Ross C.
    Drexel Hamilton Acree, Cody
    Evercore ISI Institutional Equities Muse, Christopher J.
    Goldman Sachs & Company, Inc. Hari, Toshiya
    Jefferies LLC Lipacis, Mark J.
    J.P. Morgan Securities LLC Sur, Harlan L.
    KeyBanc Capital Markets McConnell, Michael C.
    Macquarie Pajjuri, Srini
    MKM Partners Roy, Ruben
    Morgan Stanley & Co. LLC Hettenbach, Craig M.
    Morningstar, Inc. (Research) Colello, Brian
    Oppenheimer & Co. Inc. Schafer, Richard E.
    Raymond James Caso, Christopher
    RBC Capital Markets Wealth Management Daryanani, Amit J.
    Stifel, Nicolaus & Company, Inc. Svanberg, Tore E.
    SunTrust Robinson Humphrey, Inc. Stein, William S.
    Susquehanna Rolland, Christopher 
    Wells Fargo Securities, LLC Wong, David M.

    Contact Investor Relations

    Kathy Ta Vice President, Investor Relations 408-601-5697
    Mike Chu Director, Investor Relations 408-601-3370

    Email Alerts

    Email Address: *
    Mailing Lists *

    Enter the code shown above.

    Request a Meeting

    We invite institutional investors to meet with our management team.

    Request now