SUNNYVALE (dpa-AFX) - Maxim Integrated Products, Inc. (MXIM) reported net income for the first quarter of $100.0 million or $0.35 per share, compared to $103.1 million or $0.36 per share for the year-ago quarter.
Excluding items, adjusted earnings per share for the latest quarter was $0.38.
Net revenue for the first quarter fell 1% to $580.28 million from $585.24 million a year ago.
Analysts polled Thomson Reuters expected the company to earn $0.37 per share on revenue of $600.96 million for the first quarter. Analysts' estimates typically exclude special items.
Looking forward to the second quarter, the company forecasts revenue of $540 million to $580 million, earnings of $0.19 to $0.25 per share and adjusted earnings of $0.26 to $0.32 per share. Analysts currently expect the company to earn $0.38 per share on revenue of $606.51 million for the second quarter.
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