SUNNYVALE (dpa-AFX) - Maxim Integrated Products, Inc. (MXIM) Thursday reported third-quarter profit of $131.39 million or $0.44 per share, up from $54.52 million or $0.18 per share in the same period last year.
Income from continuing operations totaled $128.79 million or $0.43 per share, compared to $22.71 million or $0.07 per share last year.
Adjusted earnings for the quarter was $0.45 per share. On average, 23 analysts polled by Thomson Reuters expected the company to earn $0.42 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues improved to $604.88 million from $571.21 million last year. Analysts expected revenues of $595.83 million.
Looking ahead to the fourth quarter, the company has forecast earnings in the range of $0.42 to $0.46 per share, with adjusted earnings in the order of $0.45 to $0.49 per share. Revenues are projected in the range of $610 million to $640 million.
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