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Maxlinear Inc (MXL) SEC Filing 10-K Annual report for the fiscal year ending Friday, December 31, 2010

SEC Filings

Maxlinear Inc

CIK: 1288469 Ticker: MXL

Exhibit 99.1

LOGO

FOR IMMEDIATE RELEASE

MaxLinear, Inc. Announces

Fourth Quarter and Fiscal Year 2010 Financial Results

Carlsbad, Calif. – February 3, 2011

– MaxLinear, Inc. (NYSE: MXL), a provider of highly integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communications applications, today announced financial results for the fourth quarter and fiscal year ended December 31, 2010.

Generally Accepted Accounting Principles (GAAP) Results

Net revenue for the fourth quarter of 2010 was $15.9 million, which came in at the high end of our prior guidance of $14.5 million to $16 million. This represents a decrease of 14 percent compared to the third quarter of 2010 and a 4 percent increase over the fourth quarter of 2009.

Gross profit in the fourth quarter of 2010 was 66 percent of revenue, compared to 70 percent in the third quarter of 2010 and 70 percent in the fourth quarter of 2009. Loss from operations in the fourth quarter of 2010 was 7 percent of revenue, compared with income from operations of 9 percent of revenue in the third quarter of 2010 and 13 percent of revenue in the fourth quarter of 2009.

Net income for the fourth quarter of 2010 was $5.7 million, or $0.17 per share (diluted), which included a one-time tax benefit of $6.7 million, or $0.20 per share (diluted), associated with the release of the valuation allowance related to federal deferred tax assets, compared with net income of $1.4 million, or $0.04 per share (diluted), for the third quarter of 2010, and net income of $1.9 million, or $0.05 per share (diluted), for the fourth quarter of 2009.

For the fiscal year 2010, net revenue was $68.7 million, representing an increase of 34 percent compared to $51.4 million in 2009. Gross profit was 69 percent of revenue for fiscal 2010, representing a 2 percentage point increase compared with 67 percent for 2009. For the fiscal year 2010, income from operations was 5 percent of revenue, compared to 9 percent of revenue in fiscal 2009. Net income attributable to common stockholders for fiscal 2010 was $8.9 million, or $0.30 per share (diluted), and without the one-time tax benefit associated with the release of the valuation allowance related to federal deferred tax assets, would have been $2.2 million, or $0.08 per share (diluted), compared to $0.6 million, or $0.06 per share (diluted), in fiscal 2009.


The following information was filed by Maxlinear Inc (MXL) on Thursday, February 3, 2011 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ticker: MXL
CIK: 1288469
Form Type: 10-K Annual Report
Accession Number: 0001193125-11-027241
Submitted to the SEC: Tue Feb 08 2011 4:17:04 PM EST
Accepted by the SEC: Tue Feb 08 2011
Period: Friday, December 31, 2010
Industry: Semiconductors And Related Devices

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