SOURCE: Maxim Integrated Products

September 18, 2006 18:27 ET

Maxim Lowers Revenue and EPS Guidance for the First Quarter of Fiscal 2007

SUNNYVALE, CA -- (MARKET WIRE) -- September 18, 2006 -- Maxim Integrated Products, Inc. (NASDAQ: MXIM) stated that while bookings in the latter part of the current quarter have improved over the order rate in July, aggregate bookings have been softer than expected. Turns orders received by the company have also been below plan, and the mix of turns orders has deviated from earlier forecasts resulting in demand not matching inventory on hand.

Consequently, the Company expects first quarter revenues for fiscal 2007 to be flat to down 3% compared to revenues of the fourth quarter of fiscal 2006 and GAAP earnings to be $0.32 - $0.34 per share excluding one time charges.

Additional discussion of this change in guidance will be conducted during the Company's normal quarterly earnings conference call.

Maxim Integrated Products is a leading international supplier of quality analog and mixed-signal products for applications that require real world signal processing.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve risk and uncertainty. These include statements regarding the Company's expectation that first quarter revenues for fiscal 2007 to be flat to down 3% compared to revenues of the fourth quarter of fiscal 2006 and GAAP earnings to be $0.32 - $0.34 per share excluding one time charges. Actual results could differ materially from those anticipated based upon, among other things, general market conditions and market developments that could adversely affect the growth of the mixed-signal analog market, such as declines in customer forecasts or greater than expected cyclical downturns within the mixed-signal analog segment of the semiconductor market, as well as other risks described in the Company's Annual Report on Form 10-K for the fiscal year ended June 25, 2005. All forward-looking statements included in this news release are made as of the date hereof, based on the information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.

Contact Information

  • Contact:
    John F. Gifford
    Chairman, President and Chief Executive Officer
    (408) 737-7600