SAN FRANCISCO Blaming slower-than-expected bookings, Maxim Integrated Products Inc. said Monday (Sept. 18) it expects fiscal first quarter 2007 revenue to be flat to down 3 percent sequentially. The company said it expects to report a net income, excluding one-time charges, of 32 to 34 cents per share based on generally accepted accounting principles.
Maxim (San Jose, Calif.) posted record revenue of $510.6 million in the fourth quarter of fiscal 2006.
Maxim said bookings in the latter part of the current quarter have improved over the order rate in July. Turns orders received by the company have also been below plan, and the mix of turns orders has deviated from earlier forecasts resulting in demand not matching inventory on hand, the company said.