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Maxim Integrated Products Inc. Reports Operating Results (10-Q)

January 30, 2012 | About:
10qk

10qk

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Maxim Integrated Products Inc. (MXIM) filed Quarterly Report for the period ended 2011-12-31.

Maxim Integrated Products Inc. has a market cap of $7.99 billion; its shares were traded at around $27.39 with a P/E ratio of 16.6 and P/S ratio of 3.23. The dividend yield of Maxim Integrated Products Inc. stocks is 3.21%.

Highlight of Business Operations:

Net revenues were $591.4 million and $612.9 million for the three months ended December 31, 2011 and December 25, 2010, respectively, a decrease of 3.5%. Net revenues for the six months ended December 31, 2011 and December 25, 2010, were $1,227.4 million and $1,239.1 million, respectively, a decrease of 0.9%. We classify our net revenue by four major end market categories: Communications, Computing, Consumer and Industrial. Net shipments decreased during the three and six months ended

Research and development expenses were $142.1 million and $130.0 million for the three months ended December 31, 2011 and December 25, 2010, respectively, which represented 24.0% and 21.2% of net revenues, respectively. The $12.1 million increase in research and development expenses was primarily attributable to an increase in salaries and related expenses of $10.0 million resulting from increased headcount and an extra week in the second quarter of fiscal 2012.

Research and development expenses were $282.3 million and $257.8 million for the six months ended December 31, 2011 and December 25, 2010, respectively, which represented 23.0% and 20.8% of net revenues, respectively. The $24.5 million increase in research and development expenses was primarily attributable to an increase in salaries and related expenses of $16.9 million resulting from increased headcount and an extra week in the second quarter of fiscal 2012.

Selling, general and administrative expenses were $80.8 million and $72.2 million for the three months ended December 31, 2011 and December 25, 2010, respectively, which represented 13.7% and 11.8% of net revenues, respectively. The $8.6 million increase was primarily attributable to an increase in salaries and related benefits of $4.7 million resulting from increased headcount and an extra week in the second quarter of fiscal 2012.

Selling, general and administrative expenses were $163.3 million and $144.3 million for the six months ended December 31, 2011 and December 25, 2010, respectively, which represented 13.3% and 11.6% of net revenues, respectively. The $18.9 million increase was primarily attributable to an increase in salaries and related benefits of $9.3 million resulting from increased headcount and an extra week in the second quarter of fiscal 2012. In addition, legal expense increased by $3.7 million relating to acquisition costs.

Read the The complete Report

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