Rochester,NY 8/25/2009 12:36:16 AM
Maxim Integrated Products Inc. MXIM, fiscal 4Q profit falls
Maxim Integrated Products Inc.
Chip maker Maxim Integrated Products Inc. said that its fiscal fourth-quarter profit sank 87 percent as revenue dropped.
Maxim said that for the quarter ended June 27 it earned $8.1 million, or 3 cents per share, compared with a profit of $66 million, or 20 cents per share, in the year-earlier quarter.
When excluding special items like an $18.9 million charge related to the closure of a wafer fabrication facility in Dallas and a $15.5 million tax provision for international restructuring, the company earned 8 cents per share.
Revenue sank 21 percent to $394.5 million from $501.3 million last year.
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