SAN FRANCISCOMaxim Integrated Products Inc. posted a sequential double-digit increase in sales for the second consecutive quarter in the period ended Sept. 26, the company said Thursday (Oct. 29).
Maxim (Sunnyvale, Calif.) logged sales for the quarter of $449.2 million, up 14 percent compared to the previous quarter, but down 10 percent compared to the year-ago quarter.
Analysts, on average, had expected Maxim's quarterly sales to be about $438 million.
Based on generally accepted accounting principles (GAAP), Maxim posted a profit of $50 million, up from $8 million in the previous quarter, but down from $67.6 million in the year-ago quarter, Maxim said.
Maxim said it expects revenue for the current quarter to be between $450 million and $465 million.