U.S. Markets closed

Maxim: Fiscal 4Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ Maxim Integrated Products Inc. (MXIM) on Tuesday reported fiscal fourth-quarter profit of $367.6 million.

The San Jose, California-based company said it had profit of $1.33 per share. Earnings, adjusted for one-time gains and costs, came to 57 cents per share.

The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of 57 cents per share.

The chipmaker posted revenue of $556.5 million in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $560.2 million.

For the year, the company reported profit of $827.5 million, or $2.97 per share. Revenue was reported as $2.31 billion.

For the current quarter ending in October, Maxim expects its per-share earnings to range from 46 cents to 52 cents.

The company said it expects revenue in the range of $510 million to $550 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $578.2 million.

Maxim shares have risen 26% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $64.13, an increase of 5% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MXIM at https://www.zacks.com/ap/MXIM