SUNNYVALE, CA -- (Marketwire) -- 10/13/08 -- Maxim Integrated Products, Inc. (NASDAQ: MXIM) announced today that it expects to report net revenues of $500 - $502
million for its fiscal 2009 first quarter ending September 27, 2008. Based
on Generally Accepted Accounting Principles (GAAP), the estimated range for
earnings per share is approximately $0.19 to $0.22. These preliminary
results include pre-tax expenses of approximately $35 million to $40
million in stock based compensation and approximately $30 million to $32
million in pre-tax expenses primarily related to the recently completed
restatement and the ramp down of certain wafer fabrication facilities.
Maxim projects revenue in the December quarter of 2009 to range between
$460 million and $490 million.
The Board of Directors of the Company has authorized the repurchase of up
to $750 million of the Company's Common Stock. The Company continues to
evaluate various capital structure alternatives and may increase the
aggregate repurchase authorization to $1.5 billion. All repurchases remain
subject to market and economic conditions. The stock repurchase
authorization does not have an expiration date and the pace of repurchase
activity will depend on factors such as current stock price, levels of cash
generation from operations, cash requirements, and other factors. All
prior Board authorizations for the repurchase of Common Stock are canceled
and superseded by this most recent authorization.
Maxim will be releasing full financial results for the first quarter of
fiscal year 2009 on Wednesday, October 29, 2008. The results will be
released over Marketwire at approximately 1:00 PM (PDT), after the close of
the market on that date and will be posted on Maxim's website at:
www.maxim-ic.com/Investor
Maxim has scheduled a conference call on October 29, 2008, at 2:00 p.m.
Pacific Time to discuss its financial results for the first quarter of
fiscal year 2009 and business outlook. You are invited to listen to the
call. To listen via telephone, dial (866) 219-5260 (toll free) or (703)
639-1117. This call will be webcast by Thomson/CCBN and can be accessed at
Maxim's website at www.maxim-ic.com/Investor.
The webcast will also be distributed through the Thomson StreetEvents
Network to both institutional and individual investors. Individual
investors can listen to the call at www.earnings.com, Thomson/CCBN's
individual investor portal, powered by StreetEvents.
