SUNNYVALE (dpa-AFX) - Maxim Integrated Products Inc. (MXIM) Thursday reported fourth-quarter net income of $84.8 million or $0.29 per share, compared with $119.0 million or $0.40 per share last year.
Excluding items, adjusted earnings for the quarter were $123.9 million or $0.43 per share, down from $129.5 million or $0.44 per share a year ago. On average, 21 analysts polled by Thomson Reuters estimated earnings of $0.48 per share. Analysts' estimates typically exclude special items.
Revenues for the latest fourth quarter were $642.47 million, compared with $608.19 million in the prior year, while analysts expected revenues of $650.35 million for the quarter.
Looking ahead to the first quarter, the company expects net earnings of $0.27 to $0.33 per share, adjusted earnings of $0.34 to $0.40 per share and revenues of $580 million to $620 million. Analysts expect earnings of $0.51 per share on revenues of $676.06 million.
The company also said that a cash dividend of $0.28 per share will be paid on September 4, 2014, to stockholders of record on August 21, 2014. This represents an 8% increase in the dividend compared to the prior quarter.
Copyright RTT News/dpa-AFX
© 2014 AFX News
