Maxim Integrated Products Inc (MXIM) 10-Q Quarterly Report November 2018

SAN JOSE, CA – October 30, 2018 – Maxim Integrated Products, Inc. (NASDAQ:MXIM) reported net revenue of $638 million for its first quarter of fiscal 2019 ended September 29, 2018, a 1% increase from the $633 million revenue recorded in the prior quarter, and an 11% increase from the same quarter of last year.

Tunç Doluca, President and Chief Executive Officer, commented, “Our September quarter results were solid. Compared to the same quarter last year, revenue and profitability grew strongly, driven by Automotive, Consumer, Industrial and Data Center. Looking forward, we are seeing softening business conditions. However, we believe our business model enables us to be successful in any environment. Due to our strong free cash flow and positive net cash balance, we plan to return 125 percent of free cash flow to shareholders this fiscal year, by increasing the share buyback. We believe buying our shares is the best use of our cash in the current environment.”

Fiscal Year 2019 First Quarter Results

Based on Generally Accepted Accounting Principles (GAAP), diluted earnings per share in the September quarter was $0.70. The results were affected by $8 million in pre-tax special items which primarily

The following information was filed by Maxim Integrated Products Inc (MXIM) on Tuesday, October 30, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Maxim Integrated Products Inc's 10-Q Quarterly Report:

Financial - Earnings Highlight
Our gross margin increased by 2.5 percentage points, due to improved factory utilization and a reduction in intangible amortization.

Revenue - Product Highlight
Revenue from automotive products was up 15%, primarily driven by growth in battery management systems for electric vehicles and auto safety and security products.
Revenue - Product Highlight
Revenue from consumer products was up 13%, primarily driven by higher sales of wearables, smartphones and other consumer products.
Revenue - Product Highlight
Revenue from industrial products was also up 12%, primarily driven by higher sales of control and automation products.
Financial - Earnings Highlight
The Companys effective tax rate for the three months ended September 29, 2018 of 15.5% was lower than the statutory rate primarily due to earnings of foreign subsidiaries, generated primarily by the Company's international operations managed in Ireland, that were taxed at lower rates, partially offset by tax expense related to GILTI.
Legal - Other
Maxim Integrated Products, Inc. ("Maxim...Read more
Other - Other
Net cash used in financing...Read more
Revenue - Product
While less than 1.0% of...Read more
Financial - Income
RESULTS OF OPERATIONS The following...Read more
Financial - Debt
We anticipate that the available...Read more
Financial - Dividend
The increase was primarily due...Read more
Revenue - Product
The change was due primarily...Read more
Financial - Expense
The $4.1 million increase was...Read more
Financial - Expense
The $7.8 million increase was...Read more
Financial - Cash Flow
Financing activities Financing cash flows...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Maxim Integrated Products Inc provided additional information to their SEC Filing as exhibits

Exhibit 10.1: Material Contract

Exhibit 10.2: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: MXIM
CIK: 743316
Form Type: 10-Q Quarterly Report
Accession Number: 0000743316-18-000038
Submitted to the SEC: Thu Nov 01 2018 12:41:04 PM EST
Accepted by the SEC: Thu Nov 01 2018
Period: Saturday, September 29, 2018
Industry: Semiconductors And Related Devices

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Maxim Integrated Products Inc (MXIM) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 29, 2018

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