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Maxlinear Inc (MXL) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

SEC Filings

Maxlinear Inc

CIK: 1288469 Ticker: MXL
Exhibit 99.1
mxla01a01a38.jpg
FOR IMMEDIATE RELEASE

MaxLinear, Inc. Announces Third Quarter 2019 Financial Results
Carlsbad, Calif. – October 24, 2019 – MaxLinear, Inc. (NYSE: MXL), a leading provider of RF, analog and mixed-signal integrated circuits for the connected home, and industrial and multi-market applications, today announced financial results for the third quarter ended September 30, 2019.

Third Quarter Financial Highlights
GAAP basis:
Net revenue was $80.0 million, down 3% sequentially, and down 6% year-on-year.
GAAP gross margin was 52.4%, compared to 53.4% in the prior quarter, and 51.6% in the year-ago quarter.
GAAP operating expenses were $45.2 million in the third quarter 2019, or 57% of net revenue, compared to $47.0 million in the prior quarter, or 57% of net revenue, and $56.4 million in the year-ago quarter, or 66% of net revenue.
GAAP loss from operations was 4% of revenue, compared to loss from operations of 4% in the prior quarter, and loss from operations of 15% in the year-ago quarter.
Net cash flow provided by operating activities was $21.8 million.
GAAP diluted loss per share was $0.07, compared to diluted loss per share of $0.03 in the prior quarter, and diluted loss per share of $0.20 in the year-ago quarter.
Non-GAAP basis:
Non-GAAP gross margin was 63.1%. This compares to 63.9% in the prior quarter, and 62.5% in the year-ago quarter.
Non-GAAP operating expenses were $30.8 million, or 38% of revenue, compared to $32.8 million or 40% of revenue in the prior quarter, and $35.6 million or 42% of revenue in the year-ago quarter.
Non-GAAP income from operations was 25% of revenue, compared to 24% in the prior quarter, and 21% in the year-ago quarter.
Non-GAAP diluted earnings per share was $0.23, compared to diluted earnings per share of $0.22 in the prior quarter, and diluted earnings per share of $0.19 in the year-ago quarter.

Recent Business Highlights
Announced availability of the MxL93515 and MxL93516, new Telluride PAM4 DSPs optimized for 100G applications.
Announced that Delta Electronics, Inc. has selected MaxLinear's Telluride PAM4 DSPs to develop sub-3.5W 100G single lambda DR, FR, and LR optical modules.
Announced that Centera Photonics Inc. has selected MaxLinear's Telluride PAM4 DSPs and PAM 4 transimpedance amplifier for its next generation 400G-DR4 and 100G-DR1 optical modules.

Management Commentary

“In the third quarter, revenue results were in line with our guidance, gross margin remained solid, and operating expenses declined on disciplined execution. We also generated more than $21 million in cash from operations. We are focused on delivering our new 5G wireless radio and fiber-optic datacenter high-speed interconnect products as we expand into new large, high-growth infrastructure markets,” commented Kishore Seendripu, Ph.D., Chairman and CEO.


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The following information was filed by Maxlinear Inc (MXL) on Thursday, October 24, 2019 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 Maxlinear Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheet (Parenthetical)
Consolidated Balance Sheets
Consolidated Statement Of Comprehensive Income (Parenthetical)
Consolidated Statement Of Operations
Consolidated Statement Of Stockholder's Equity Statement
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Balance Sheet Details
Balance Sheet Details (Tables)
Balance Sheet Details - Accrued Expenses (Details 6)
Balance Sheet Details - Cash And Investments (Details 1)
Balance Sheet Details - Inventory (Details 2)
Balance Sheet Details - Property And Equipment (Details 3)
Balance Sheet Details Balance Sheet Details - Aoci (Details)
Balance Sheet Details- Accrued Price Protection Liability (Details 5)
Commitments And Contingencies
Commitments And Contingencies (Details 1)
Commitments And Contingencies (Tables)
Concentration Of Credit Risk, Significant Customers And Geographic Information
Concentration Of Credit Risk, Significant Customers And Geographic Information (Details)
Concentration Of Credit Risk, Significant Customers And Geographic Information (Tables)
Debt And Interest Rate Swap
Debt And Interest Rate Swap (Details)
Debt And Interest Rate Swap (Tables)
Financial Instruments
Financial Instruments (Details 1)
Financial Instruments (Details 2)
Financial Instruments (Details 3)
Financial Instruments (Tables)
Financial Instruments - Additional Information (Details Textuals)
Goodwill And Intangible Assets
Goodwill And Intangibles Assets (Details 1)
Goodwill And Intangibles Assets (Details 2)
Goodwill And Intangibles Assets (Details 3)
Goodwill And Intangibles Assets (Details 4)
Goodwill And Intangibles Assets (Details Textuals)
Goodwill And Intangibles Assets (Tables)
Income Taxes
Income Taxes - Additional Information (Details)
Leases
Leases (Details)
Leases (Tables)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Details 1)
Net Income (Loss) Per Share (Details Textuals)
Net Income (Loss) Per Share (Tables)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Details Textuals)
Organization And Summary Of Significant Accounting Policies (Policies)
Restructuring Activities (Details Textuals)
Restructuring Activity
Restructuring Activity (Details 1)
Restructuring Activity (Details 2)
Restructuring Activity (Tables)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Tables)
Stock-Based Compensation And Employee Benefit Plans
Stock-Based Compensation And Employee Benefit Plans (Tables)
Stock-Based Compensation And Employee Benefit Plans - Additional Information (Details Textuals)
Stock-Based Compensation And Employee Benefit Plans - Awards (Details 2)
Stock-Based Compensation And Employee Benefit Plans - Espp (Details 3)
Stock-Based Compensation And Employee Benefit Plans - Expense By Type (Details 1)
Stock-Based Compensation And Employee Benefit Plans - Stock Options (Details 4)
Subsequent Events (Details)
Subsequent Events (Notes)

Material Contracts, Statements, Certifications & more

Maxlinear Inc provided additional information to their SEC Filing as exhibits

Ticker: MXL
CIK: 1288469
Form Type: 10-Q Quarterly Report
Accession Number: 0001288469-19-000172
Submitted to the SEC: Thu Oct 24 2019 2:47:30 PM EST
Accepted by the SEC: Fri Oct 25 2019
Period: Monday, September 30, 2019
Industry: Semiconductors And Related Devices

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