MaxLinear: 4Q Earnings Snapshot
CARLSBAD, Calif. (AP) _ MaxLinear Inc. (MXL) on Tuesday reported fourth-quarter net income of $311,000, after reporting a loss in the same period a year earlier.
The Carlsbad, California-based company said it had profit of less than 1 cent on a per-share basis. Earnings, adjusted for non-recurring costs and stock option expense, came to 20 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The chipmaker posted revenue of $87.6 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $87.1 million.
For the year, the company reported that its loss widened to $26.2 million, or 38 cents per share. Revenue was reported as $385 million.
For the current quarter ending in April, MaxLinear said it expects revenue in the range of $82 million to $87 million.
MaxLinear shares have climbed 12 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.74, a decrease of 21 percent in the last 12 months.