Maxim Integrated Products (MXIM) Reports In-Line Q2 EPS, Offers Q3 Guidance

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Maxim Integrated Reports Results For The Second Quarter Of Fiscal 2016

January 21, 2016 4:01 PM EST

SAN JOSE, Calif., Jan. 21, 2016 /PRNewswire/ -- Maxim Integrated Products, Inc. (NASDAQ: MXIM) reported net revenue of $511 million for its second quarter of fiscal 2016 ended December 26, 2015, a 9% decrease from the $563 million revenue recorded in the prior quarter, and a 10% decrease from the same quarter of last year.

Tunc Doluca, President and Chief Executive Officer, commented, "Our second quarter financial performance was in line with our expectations, and we achieved several milestones in our $180 million cost reduction plan. " Mr. Doluca... More