SAN FRANCISCO—Analog chip vendors are mostly joining in the semiconductor earnings rally in recent days, with Maxim Integrated Products Inc., MaxLinear Inc. and Monolithic Power Systems Inc. (MPS) reporting profits, while Advanced Analogic Technologies Inc. posted a loss.
Maxim (Sunnyvale, Calif.) reported record sales of $566 million for the quarter ended June 26, up 11 percent compared with the previous quarter and up 43 percent compared with the year-ago quarter. The company posted a net income in accordance with generally accepted accounting principles (GAAP) of $58.5 million, or 19 cents per diluted share, compared to a net loss of $33.9 million in the prior quarter and a net income of $8 million in the year ago quarter.
Maxim's net income for the quarter was weighed down by pre-tax and tax-related expenses including a $33.2 million tax provision for international restructuring, the company said.
Consensus analyst expectations had called for Maxim to report sales of $561 million, according to Yahoo Finance.
"We achieved record revenues as a result of the improved economy and our innovative products winning significant designs this past year," said Tunc Doluca, Maxim president and CEO, in a statement. " To support this growing demand, we are on plan to increase flexible wafer fab capacity."
Maxim said it expects to report revenue for the current quarter of $600 million to $630 million, with earnings per share of 32 to 36 cents.
MaxLinear (Carlsbad, Calif.) posted a GAAP net income of $1.8 million on revenue of $18.2 million for the second quarter. Sales increased 13 percent sequentially and 63 percent year-to-year. Net income increased from $1.3 million in the first quarter and $153,000 in the second quarter of 2009, the company said.
Consensus analyst expectations called for MaxLinear to post revenue of $17.3 million for the quarter, according to Yahoo Finance.
Kishore Seendripu, chairman and CEO of MaxLinear said through a statement that the company saw increases in shipments to the cable, digital TV and automotive markets. "The proliferation of multimedia content and services is increasing the need for multiple broadband RF receiver ICs in a single device necessary to simultaneously receive data, video, voice and other enhanced multimedia services," Seendripu said.
MPS (San Jose, Calif.) posted record revenue of $55.7 million for the quarter ended June 30, up 11 percent from the previous quarter and up 35 percent compared to the year-ago quarter. The company reported a GAAP net income of $6.4 million, or 17 cents per diluted share, up from $3.2 million in the year-ago quarter.
Quarterly revenue for MPS came up short of consensus analysts' expectations, which called for revenue of $59.7 million, according to Yahoo Finance.
"Our outstanding revenue performance is driven by our new product releases of the last two years", said Michael Hsing, CEO of MPS, in a statement. "We are now seeing the dramatic top line and bottom line growth from these successful products."
MPS said it expects revenue for the current quarter to be between $66 million and $70 million.
Advanced Analogic (Santa Clara, Calif.) reported net revenue of $23.1 million for the second quarter, up 6 percent compared to the first quarter and up 1 percent compared with the second quarter of 2009. The company posted a GAAP net loss of $3.9 million, or 0 cents per diluted share, narrowed from a net loss of $4.2 million in the first quarter, but wider than the net loss of $2.5 million the company posted in the year-ago quarter.
Advanced Analogic said it expects to report third quarter revenue of between $23 million and $26 million with a net loss per share of 7 to 10 cents.