Latest News by Industry
CARLSBAD, Calif. (AP) _ MaxLinear Inc. (MXL) on Wednesday reported fourth-quarter profit of $31.1 million.
On a per-share basis, the Carlsbad, California-based company said it had profit of 38 cents. Earnings, adjusted for one-time gains and costs, came to $1.07 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The chipmaker posted revenue of $290.6 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $290.1 million.
For the year, the company reported profit of $125 million, or $1.55 per share. Revenue was reported as $1.12 billion.
For the current quarter ending in March, MaxLinear said it expects revenue in the range of $240 million to $260 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a MXL">Zacks stock report on MXL at https://www.zacks.com/ap/MXL