Maxim Lowers Q1 Guidance

By Colleen Taylor -- Electronic News, 9/19/2006

Linear and mixed-signal IC supplier Maxim Integrated Products Inc. today lowered its revenue and EPS guidance for fiscal Q1 2007.

While bookings in the latter part of the current quarter have improved over the order rate in July, the company said its aggregate bookings have been softer than expected.

Turns orders received by the company have also been below plan, Maxim said, and the mix of turns orders has deviated from earlier forecasts resulting in demand not matching inventory on hand.

Consequently, the company expects Q1 2007 revenues to be flat to down three percent, compared to Q4, when the company posted record net revenues of $510.6 million, a 6.8 percent increase over the previous quarter and a 27.5 percent increase over Q4 2005.

Maxim's GAAP earnings are now expected to be 32 to 34 cents per share excluding one-time charges