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

January 25, 2013 | About:
10qk

10qk

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Maxim Integrated Products Inc. (MXIM) filed Quarterly Report for the period ended 2012-12-29.

Maxim Integrated Products Inc. has a market cap of $9.19 billion; its shares were traded at around $31.59 with a P/E ratio of 24.8 and P/S ratio of 3.9. The dividend yield of Maxim Integrated Products Inc. stocks is 3%. Maxim Integrated Products Inc. had an annual average earning growth of 0.9% over the past 10 years.

Highlight of Business Operations:

Net revenues were $605.3 million and $591.4 million for the three months ended December 29, 2012 and December 31, 2011, respectively, an increase of 2.4%. Net revenues were $1,228.4 million and $1,227.4 million for the six months ended December 29, 2012 and December 31, 2011, respectively, an increase of 0.1%. We classify our shipments by four major end market categories: Communications, Computing, Consumer and Industrial. Net shipments increased during the three and six months ended December 29, 2012 as compared to the three and six months ended December 31, 2011 due to improved demand for our products in the consumer markets primarily from growth in smart phones. This increase was offset by continued decline in our notebook business in the computing market.

Research and development expenses were $135.7 million and $142.1 million for the three months ended December 29, 2012 and December 31, 2011, respectively, which represented 22.4% and 24.0% of net revenues, respectively. The $6.4 million decrease was primarily attributable to a decrease in salaries and related expenses of $6.0 million as a result of decreased headcount and one extra week in the fiscal quarter ended December 31, 2011.

Research and development expenses were $268.7 million and $282.3 million for the six months ended December 29, 2012 and December 31, 2011, respectively, which represented 21.9% and 23.0% of net revenues, respectively. The $13.6 million decrease was primarily attributable to a decrease in salaries and related expenses of $9.4 million as a result of decreased headcount and one extra week in the fiscal quarter ended December 31, 2011.

Selling, general and administrative expenses were relatively flat at $80.1 million and $80.8 million for the three months ended December 29, 2012 and December 31, 2011, respectively, which represented 13.2% and 13.7% of net revenues, respectively. There were no significant fluctuations in line items making up the selling, general and administrative expenses.

Selling, general and administrative expenses were relatively flat at $160.2 million and $163.3 million for the six months ended December 29, 2012 and December 31, 2011, respectively, which represented 13.0% and 13.3% of net revenues, respectively. There were no significant fluctuations in line items making up the selling, general and administrative expenses.

Read the The complete Report

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