- Maxim Integrated had reported net revenue of $551 million for its second quarter of fiscal 2020
- Company’s products are used in manufacturing various medical devices
Maxim Integrated Products, Inc. has accelerated the production of its medical technologies to address increased customer needs during the COVID-19 pandemic. The company’s semiconductor devices are used in medical equipment such as virus detection devices, ultrasounds, analytical/laboratory equipment, ventilators, patient remote monitoring devices, intravenous blood monitors, temperature loggers for critical COVID drugs, pulse oximeters, remote patient/IR thermometers, blood glucose meters for diabetics, anesthesia machines and disposable patches for blood pressure.
“We are committed to helping alleviate the impact of this global pandemic. In order to support efforts in fighting this disease, we are adjusting manufacturing capacity to prioritize products used in medical equipment which assists in the diagnosis and treatment of COVID-19 patients. Our products help enable a variety of medical solutions, such as those used for wearable and remote vital-sign monitoring, drug delivery, surgical equipment, as well as lung and airway imaging,” said Tunç Doluca, president and CEO at Maxim Integrated.
Net revenue of $551 million in its second quarter
In addition to accelerating technology production, Maxim Integrated is helping to protect the wider community. For example, it has donated N95 masks to hospitals in Portland and Silicon Valley, and is continuing to conduct fundraising to support other impacted regions. The company has distributed personal protective equipment for front-line workers in Cavite, Philippines, and is also providing weekly contributions towards food in the region.
At the company’s headquarters, employees are participating in a giving campaign supporting Second Harvest Food Bank in which Maxim Integrated will match employee donations up to $20,000. The company has also taken the necessary precautions as part of a comprehensive business continuity plan to help safeguard the health and safety of its employees, applying measures such as frequent disinfecting of test equipment, social distancing and remote working for most employees.
Maxim Integrated had reported net revenue of $551 million for its second quarter of fiscal 2020 that ended on 28 December 2019. These figures indicate a three per cent increase from the $533 million revenue recorded in the prior quarter, and a four per cent decrease from the same quarter of last year.
“Looking forward to the March quarter, we expect a return to revenue growth for the company from the same quarter last year, driven by growth in Communications and Data Center, Industrial and Automotive markets,” Doluca had said earlier.