Maxim Integrated Products (MXIM) Misses Q3 EPS by 1c, Offers Q4 Guidance

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Maxim Integrated Reports Results For The Third Quarter Of Fiscal 2016

April 21, 2016 4:01 PM EDT

SAN JOSE, Calif., April 21, 2016 /PRNewswire/ -- Maxim Integrated Products, Inc. (NASDAQ: MXIM) reported net revenue of $555 million for its third quarter of fiscal 2016 ended March 26, 2016, a 9% increase from the $511 million revenue recorded in the prior quarter, and a 4% decrease from the same quarter of last year.

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