Maxim Integrated Products Announces Results For Q2 2021

- Advertisement -
- Advertisement -

The company noted that its results were affected by $15 million in pre-tax special items which primarily consisted of $9 million in charges related to the upcoming combination with Analog Devices

Maxim Integrated Products has reported net revenue of $628 million for its second quarter of fiscal 2021 ended 26 December 2020. This represents a one per cent increase from the $619 million revenue recorded in the prior quarter, and a 14 per cent increase from the same quarter of last year.

“Our strong performance in the December quarter relative to the same quarter last year benefitted from robust demand from automotive, industrial and consumer customers. Automotive and Industrial reached a record revenue level and comprised 63 percent of Maxim’s total revenue. In addition, progress toward closure of our merger with Analog Devices is on track,” said Tunc Doluca, President and Chief Executive Officer.

- Advertisement -

The company noted that its results were affected by $15 million in pre-tax special items which primarily consisted of $9 million in charges related to the upcoming combination with Analog Devices, $3 million in restructuring costs unrelated to the merger, and $7 million of expenses related to prior acquisitions, which were partially offset by $5 million of unrealized other income from private company investments.

“Per the terms of the Merger Agreement between the Company and Analog Devices, we will not declare dividends that would have been paid in the upcoming months of March, June and September and have suspended our open market stock repurchase program,” read company’s official statement.

It continued, “Due to the pending merger with Analog Devices, Maxim Integrated will not be hosting a quarterly earnings conference call and has suspended the practice of providing forward-looking guidance. Investors are requested to review our Investor Relations website for the quarterly financial highlights and SEC filings for the latest updates on the pending transaction. “

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

Indian PC Market Grows 4% In Q4 2023, Local Manufacturing Efforts Ramp Up

0
IT procurement by enterprises and SMBs, delayed in the first half of 2023, is starting to take place and is expected to accelerate...

“Efficiency In Solar Energy Is More About Investment Rationale Than Resource Limitation”

0
Indian utility-scale solar company SolarArise claims to offer investors long-term, cash-generating assets and anticipates advancements in energy storage technologies to enable 24-hour clean power...

A New Form Factor Of Two Wheelers Takes Shape In India

0
The logistics sector has become India's biggest adopter of electric vehicles. However, attrition due to physical and mental fatigue is alarming for lease and...

Buzz

Suzuki Makes Investment In IoT Expert Soracom

0
Key areas of interest include globally-marketed electric vehicles, modular 'mobility base units', and innovative technologies and services to achieve carbon neutrality. Just a month after...

Microsoft announces Pavan Davuluri As Head of Windows and Surface

0
Davuluri has been contributing to the company's collaborations with Qualcomm and AMD in developing custom Surface processors. Microsoft has announced the appointment of Pavan Davuluri...

EDAG, Baier Motors Develop Electric Motorcycle for Africa

0
The Oryx Concept motorcycle, a collaboration between EDAG Group and start-up Baier Motors, is designed to meet the increasing demand in Africa for a...

Important Sectors

Suzuki Makes Investment In IoT Expert Soracom

0
Key areas of interest include globally-marketed electric vehicles, modular 'mobility base units', and innovative technologies and services to achieve carbon neutrality. Just a month after...

EDAG, Baier Motors Develop Electric Motorcycle for Africa

0
The Oryx Concept motorcycle, a collaboration between EDAG Group and start-up Baier Motors, is designed to meet the increasing demand in Africa for a...

MNRE Announces Minimum Efficiency Criteria For Thin Film Solar

0
Utility grid- scale power plants using CdTe should have efficiency of 19%.  For rooftop and solar pumping applications efficiency requirement is 18.5% and...

BYD Achieves 7 Million New Energy Vehicles, Last Million In 4 Months

0
BYD has become the first in the world to produce seven million new energy vehicles (NEVs), with the most recent million being manufactured in...

ZF Hits 1,000 CeTrax Lite Electric CV Drives, Boosted by Isuzu Demand

0
Shortly after beginning volume production, Isuzu experienced an increase in demand, driven by its use of the ZF CeTrax lite electric drive in its...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...