Maxim Integrated Products Reports Financial Results

July 30, 2012 by Jeff Shepard

Maxim Integrated Products, Inc. reported net revenue of $605 million for its fiscal 2012 fourth quarter ended June 30, 2012, a 6% increase from $571 million revenue recorded in the prior quarter. The Company announced that its Board of Directors approved an increase in its quarterly dividend from $0.22 per share to $0.24 per share.

Tunc Doluca, President and Chief Executive Officer, commented, "During our just completed fiscal year, Maxim’s unique approach to innovation and integration enabled us to perform well in an uncertain economic environment. We are confident that our balanced business model is sustainable, and as a result we increased our quarterly dividend by 9%."

Based on Generally Accepted Accounting Principles (GAAP), diluted earnings per share in the June quarter was $0.37. The results were affected by certain items which primarily consisted of:

-- $13.4 million pre-tax charge for acquisition related items

-- $22.4 million pre-tax charge for impairment of long-lived assets

GAAP earnings per share, excluding special expense items, was $0.45.