Maxim Posts Fourth-Quarter 2002 Results
Despite a 12-percent drop in revenue, Maxim Integrated Products Inc. (Sunnyvale, CA) posted a year-on-year profit for its fiscal fourth quarter, which ended June 29, 2002. The company posted net revenue of $280.1 million, an 8.4 percent increase over the previous quarter, but down 12 percent from the year-ago quarter. However, over the same period, the company’s income increased to $68.6 million, or $0.20 per share, from a net loss of $16.2 million, or $0.05 per share.
Income increased only slightly sequentially, from the previous quarter’s $66.7 million, or $0.19 per share. Bookings increased by about four percent to $310.0 million, over the previous quarter’s $299.0 million. Turns orders remained at 45 percent
of bookings, or about $140.0 million, as the company’s customers continue to order for their immediate needs. Bookings increased in
Japan and the US, and were flat with last quarter in other geographic areas. Backlog grew nine percent in fiscal fourth quarter. The company expects its revenue to further increase for the fourth consecutive quarter in fiscal first quarter.