MaxLinear, Inc. Announces Fourth Quarter 2017 Financial Results

Reconciliations of non-GAAP measures for the historic periods disclosed in this press release appear below. Because of the inherent uncertainty associated with our ability to project future charges, particularly related to stock-based compensation and its related tax effects as well as potential impairments, we have not provided a reconciliation for non-GAAP guidance provided for the first quarter 2018.

About MaxLinear, Inc.

MaxLinear, Inc. (NYSE:MXL) is a leading provider of radio frequency (RF) and mixed-signal and high-performance analog integrated circuits for the connected home, wired and wireless infrastructure, and industrial and multi-market applications.  MaxLinear is headquartered in Carlsbad, California. For more information, please visit www.maxlinear.com.

MXL is MaxLinear’s registered trademark. Other trademarks appearing herein are the property of their respective owners.

MaxLinear, Inc. Investor Relations Contact:
Gideon Massey
Investor Relations Specialist
Tel: 949-333-0056
gmassey@maxlinear.com

 
MAXLINEAR, INC.
UNAUDITED GAAP CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
 
  Three Months Ended
  December 31, 2017  September 30, 2017  December 31, 2016
Net revenue$113,721  $113,581  $87,136 
Cost of net revenue61,628  61,739  36,733 
Gross profit52,093  51,842  50,403 
Operating expenses:     
Research and development30,116  29,270  24,035 
Selling, general and administrative26,843  29,037  16,720 
IPR&D impairment losses  2,000   
Restructuring charges800  2,178  1,326 
Total operating expenses57,759  62,485  42,081 
Income (loss) from operations(5,666) (10,643) 8,322 
Interest income14  1  146 
Interest expense(4,044) (4,133) (7)
Other income (expense), net(793) (668) 130 
Total interest and other income (expense), net(4,823) (4,800) 269 
Income (loss) before income taxes(10,489) (15,443) 8,591 
Income tax provision (benefit) 8,959     (6,276 )   243  
Net income (loss) $ (19,448 )   $ (9,167 )   $ 8,348  
Net income (loss) per share:          
Basic $ (0.29 )   $ (0.14 )   $ 0.13  
Diluted $ (0.29 )   $ (0.14 )   $ 0.12  
Shares used to compute net income (loss) per share:          
Basic 67,147     66,712     64,752  
Diluted 67,147     66,712     68,421  
                 

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