Maxim Integrated Products Q3 Profit Declines; Issues Q4 Outlook - Quick Facts

(RTTNews) - Maxim Integrated Products Inc. (MXIM) Thursday reported third-quarter net income of $122.5 million or $0.42 per share, compared with $131.4 million or $0.44 per share last year.

Excluding items, adjusted earnings for the quarter were $123.1 million or $0.43 per share, down from $134.6 million or $0.45 per share a year ago.

Revenues for the quarter were $605.68 million, compared with $604.88 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.39 per share on revenues of $604.68 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the fourth quarter, the company expects net earnings of $0.38 to $0.42 per share, adjusted earnings of $0.45 to $0.49 per share and revenues of $635 million to $665 million. Analysts expect earnings of $0.46 per share on revenues of $638.84 million.