Actionable news
All posts from Actionable news
Actionable news in MXL: MAXLINEAR Inc,

Maxlinear, Inc. Positively Revises First Quarter 2016 Financial Outlook

The following excerpt is from the company's SEC filing.

CARLSBAD, Calif. - April 20, 2016 - MaxLinear, Inc. (NYSE: MXL), a leading provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications, the connected home, and for data center, metro, and long-haul fiber networks, today updated and raised its financial outlook for the first quarter 2016.

MaxLinear currently anticipates revenue for the quarter ended March 31, 2016 to be between $102 million and $103 million, consistent with middle of the range of prior guidance. MaxLinear also announced that it expects gross profit percentage to exceed prior guidance by approximately 200 basis points, and operating expenses to be approximately $1.0 million less than prior guidance. MaxLinear also indicated that it expects operating results in the quarter to be partially offset by incremental tax expense of approximately $2 million.

Management Commentary

“As we have seen strength across our business with continued strong booking trends, we are pleased to reiterate our revenue outlook for the first quarter 2016. Additionally, continued supply chain efficiencies, particularly in our Entropic business, favorable mix, and tight expense control yielded better-than-expected gross profit and operating expense results.”

These financial results are preliminary and subject to MaxLinear's customary quarterly closing and review procedures as well as review by MaxLinear’s independent registered public accounting firm. As previously announced, MaxLinear will release its financial results for the first quarter 2016 after the close of the market on Monday, May 9, 2016.

Cautionary Note Concerning Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as...