2014

Maxim Increases Dividend 9% and Reports Results for the Fourth Quarter of Fiscal 2012 -- Revenue: $605 million

-- Gross Margin: 61.5% GAAP (63.0% excluding special expense items)

-- EPS: $0.37 GAAP ($0.45 excluding special items)

-- Cash, cash equivalents, and short term investments: $956 million

-- Fiscal first quarter revenue outlook: $605 million to $635 million

-- Quarterly dividend increased 9% to $0.24 per share

SAN JOSE, Calif., July 26, 2012 /PRNewswire/ -- Maxim Integrated Products, Inc. (NASDAQ: MXIM) reported net revenue of $605 million for its fiscal 2012 fourth quarter ended June 30, 2012, a 6% increase from $571 million revenue recorded in the prior quarter.

(Logo:  http://photos.prnewswire.com/prnh/20120117/SF36500LOGO)

The Company announced that its Board of Directors approved an increase in its quarterly dividend from $0.22 per share to $0.24 per share.

Tunc Doluca, President and Chief Executive Officer, commented, "During our just completed fiscal year, Maxim's unique approach to innovation and integration enabled us to perform well in an uncertain economic environment. We are confident that our balanced business model is sustainable, and as a result we increased our quarterly dividend by 9%."

Fiscal Year 2012 Fourth Quarter Results

Based on Generally Accepted Accounting Principles (GAAP), diluted earnings per share in the June quarter was $0.37. The results were affected by certain items which primarily consisted of:

  • $13.4 million pre-tax charge for acquisition related items
  • $22.4 million pre-tax charge for impairment of long-lived assets

GAAP earnings per share, excluding special expense items, was $0.45. An analysis of GAAP versus GAAP excluding special items is provided in the last table of this press release.

Cash Flow Items

At the end of our fiscal 2012 fourth quarter, total cash, cash equivalents and short term investments was $956 million, an increase of $20 million from the prior quarter. Notable items include:

  • Cash flow from operations: $190 million (31% of revenue)
  • Net capital expenditures: $75 million
  • Dividends: $64 million ($0.22 per share)
  • Stock repurchases: $56 million

Business Outlook

The Company's 90 day backlog at the beginning of the first fiscal quarter was $393 million. Based on our beginning backlog and expected turns, results for the September 2012 quarter are expected to be:

  • Revenue: $605 million to $635 million
  • Gross Margin: 59% to 62% GAAP (61% to 64% excluding special expense items)
  • EPS: $0.38 to $0.42 GAAP ($0.41 to $0.45 excluding special expense items)

Maxim's Business Outlook does not include the potential impact of any restructuring activity or mergers, acquisitions, divestitures, or other business combinations that may be completed during the quarter.

Dividend

A cash dividend of $0.24 per share will be paid on September 5, 2012, to stockholders of record on August 22, 2012.

Conference Call

Maxim has scheduled a conference call on July 26, 2012, at 2:00 p.m. Pacific Time to discuss its financial results for the fourth quarter of fiscal year 2012 and its business outlook. To listen via telephone, dial (866) 227-1582 (toll free) or (703) 639-1129.  This call will be webcast by Shareholder.com and can be accessed at Maxim's website at www.maxim-ic.com/Investor.


CONSOLIDATED STATEMENTS OF INCOME


(Unaudited)




Three Months Ended


Year Ended




June 30,


March 31,


June 25,


June 30,


June 25,




2012


2012


2011


2012


2011




(in thousands, except per share data)


Net revenues


$       604,956


$          571,212


$       626,491


$    2,403,529


$    2,472,341


Cost of goods sold (1, 2, 3)


232,967


235,782


235,666


952,677


942,377


        Gross profit


371,989


335,430


390,825


1,450,852


1,529,964


Operating expenses:












    Research and development (1)


134,007


136,075


136,573


552,379


525,308


    Selling, general and administrative (1)


79,980


78,011


74,537


321,273


292,494


    Intangible asset amortization (2)


4,049


4,029


4,200


16,737


18,752


    Impairment of long-lived assets (4)


22,383


7,712


-


30,095


-


    Severance and restructuring


18


228


(423)


6,785


1,247


    Other operating (income) expenses, net (5)


(4,469)


(2,511)


(1,984)


(11,214)


19,124


       Total operating expenses 


235,968


223,544


212,903


916,055


856,925


          Operating income


136,021


111,886


177,922


534,797


673,039


Interest and other (expense) income, net (6)


(108)


(230)


(2,022)


(2,064)


(11,368)


Income before provision for income taxes


135,913


111,656


175,900


532,733


661,671


Provision for income taxes (7,8)


25,279


88,948


50,307


177,815


172,662


    Income from continuing operations


110,634


22,708


125,593


354,918


489,009


    Income from discontinued operations, net of tax (9)


-


31,809


-


31,809


-


      Net income


$       110,634


$            54,517


$       125,593


$       386,727


$       489,009














Earnings per share: basic












    From continuing operations


$             0.38


$                0.08


$             0.42


$             1.21


$             1.65


    From discontinued operations, net of tax (9)


-


0.11


-


0.11


-


    Basic 


$             0.38


$                0.19


$             0.42


$             1.32


$             1.65














Earnings per share: diluted












    From continuing operations


$             0.37


$                0.07


$             0.41


$             1.18


$             1.61


    From discontinued operations, net of tax (9)


-


0.11


-


0.11


-


    Diluted 


$             0.37


$                0.18


$             0.41


$             1.29


$             1.61














Shares used in the calculation of earnings per share: 












    Basic


292,757


292,276


295,751


292,810


296,755


    Diluted 


299,793


300,221


303,944


300,002


303,377














Dividends paid per share 


$             0.22


$                0.22


$             0.21


$             0.88


$             0.84


























SCHEDULE OF SPECIAL EXPENSE ITEMS


(Unaudited)




Three Months Ended


Year Ended




June 30,


March 31,


June 25,


June 30,


June 25,




2012


2012


2011


2012


2011




(in thousands)


Cost of goods sold:












      Intangible asset amortization (2)


$               9,392


$                  9,787


$               7,977


$             36,693


$             30,164


      Acquisition related inventory write up (3)


-


-


-


1,801


5,677


 Total 


$               9,392


$                  9,787


$               7,977


$             38,494


$             35,841














 Operating expenses: 












     Intangible asset amortization (2)


$               4,049


$                  4,029


$               4,200


$             16,737


$             18,752


     Impairment of long-lived assets (4)


22,383


7,712


-


30,095


-


     Severance and restructuring 


18


228


(423)


6,785


1,247


     Other operating (income) expenses, net (5)


(4,469)


(2,511)


(1,984)


(11,214)


19,124


 Total 


$             21,981


$                  9,458


$               1,793


$             42,403


$             39,123














     Interest and other expense (income), net (6) 


$                  550


$                       -


$                     -


$             (1,226)


$                     -


 Total 


$                  550


$                       -


$                     -


$             (1,226)


$                     -














Provision for income taxes:












     Reversal of tax reserves (7) 


$                     -


$                (2,272)


$             (1,624)


$             (2,272)


$           (38,947)


     International restructuring (8) 


2,751


65,293


6,791


65,389


21,801


 Total 


$               2,751


$                63,021


$               5,167


$             63,117


$           (17,146)














Discontinued operations:












     Income from discontinued operations, net of tax (9)


$                     -


$              (31,809)


$                     -


$           (31,809)


$                     -


 Total 


$                     -


$              (31,809)


$                     -


$           (31,809)


$                     -














(1) Includes stock-based compensation charges.












(2) Includes intangible asset amortization related to acquisitions.






(3) Includes expense related to fair value write up of inventory acquired as part of acquisitions. 






(4) Includes impairment charges relating to land and buildings held for sale, wafer fab and end of line manufacturing equipment.






(5) Other operating (income) expenses, net are primarily for loss (gain) on sale of land and buildings, contingent consideration adjustments related to certain acquisitions, stock option related litigation, certain payroll taxes, interest and penalties and in-process research and development written off.


(6) Includes gain on sale and impairment of privately-held companies.






(7) Includes reversal of tax reserves related to audit completion and expiration of statute of limitations.






(8) Includes impact due to implementation of international restructuring.






(9) Includes gain on sale, net of tax relating to certain businesses divested.





 


STOCK-BASED COMPENSATION BY TYPE OF AWARD (in thousands)


(Unaudited)












Three Months Ended June 30, 2012

  Stock Options


  Restricted Stock Units


  Employee Stock Purchase Plan


  Total



Cost of goods sold 

$                  462


$               2,206


$                  423


$               3,091



Research and development expense

1,607


8,331


1,413


11,351



Selling, general and administrative expense

1,468


4,518


462


6,448



       Total

$               3,537


$             15,055


$               2,298


$             20,890













Three Months Ended March 31, 2012










Cost of goods sold 

$                  470


$               2,217


$                  412


$               3,099



Research and development expense

1,742


8,203


1,602


11,547



Selling, general and administrative expense

1,836


5,072


484


7,392



       Total

$               4,048


$             15,492


$               2,498


$             22,038













Three Months Ended June 25, 2011










Cost of goods sold 

$                  516


$               2,101


$                  405


$               3,022



Research and development expense

2,016


8,472


1,434


11,922



Selling, general and administrative expense

1,485


4,543


436


6,464



       Total

$               4,017


$             15,116


$               2,275


$             21,408













Year Ended June 30, 2012










Cost of goods sold 

$               2,014


$               9,387


$               1,738


$             13,139



Research and development expense

7,844


35,699


5,525


49,068



Selling, general and administrative expense

6,436


19,493


1,731


27,660



       Total

$             16,294


$             64,579


$               8,994


$             89,867













Year Ended June 25, 2011










Cost of goods sold 

$               2,625


$               9,819


$               1,557


$             14,001



Research and development expense

11,325


36,926


5,435


53,686



Selling, general and administrative expense

6,120


18,944


1,546


26,610



       Total

$             20,070


$             65,689


$               8,538


$             94,297













CONSOLIDATED  BALANCE SHEETS


(Unaudited)



June 30,


March 31,


June 25,



2012


2012


2011



(in thousands) 


ASSETS


Current assets:







    Cash and cash equivalents

$           881,060


$           860,551


$           962,541


    Short-term investments

75,326


75,405


50,346


        Total cash, cash equivalents and short-term investments

956,386


935,956


1,012,887


    Accounts receivable, net 

317,461


296,255


297,632


    Inventories

242,162


220,153


237,928


    Deferred tax assets

98,180


105,298


113,427


    Other current assets

85,177


79,584


65,978


        Total current assets

1,699,366


1,637,246


1,727,852


Property, plant and equipment, net

1,353,606


1,361,300


1,308,850


Intangible assets, net

208,913


222,354


204,263


Goodwill

423,073


423,073


265,125


Other assets

52,988


26,264


21,653


              TOTAL ASSETS

$        3,737,946


$        3,670,237


$        3,527,743









LIABILITIES AND STOCKHOLDERS' EQUITY


Current liabilities:







    Accounts payable 

$           147,086


$           132,906


$           110,153


    Income taxes payable

22,589


21,807


3,912


    Accrued salary and related expenses

191,846


181,943


215,627


    Accrued expenses 

64,092


70,297


47,767


    Current portion of long term debt

303,496


1,945


-


    Deferred income on shipments to distributors

26,280


28,729


36,881


        Total current liabilities

755,389


437,627


414,340


Long term debt

5,592


308,700


300,000


Income taxes payable

212,389


192,842


96,099


Deferred tax liabilities

198,502


205,727


183,715


Other liabilities

27,797


22,143


22,771


        Total liabilities 

1,199,669


1,167,039


1,016,925









Stockholders' equity:







    Common stock

293


9,125


296


    Retained earnings 

2,553,418


2,507,298


2,524,790


    Accumulated other comprehensive loss

(15,434)


(13,225)


(14,268)


        Total stockholders' equity

2,538,277


2,503,198


2,510,818


              TOTAL LIABILITIES & STOCKHOLDERS' EQUITY 

$        3,737,946


$        3,670,237


$        3,527,743









CONSOLIDATED STATEMENTS OF CASH FLOWS


(Unaudited)



Three Months Ended


Year ended



June 30,


March 31,


June 25,


June 30,


June 25,



2012


2012


2011


2012


2011



(in thousands)


Cash flows from operating activities: 











Net income

$     110,634


$        54,517


$      125,593


$      386,727


$      489,009


Adjustments to reconcile net income to net cash provided by operating activities: 











      Stock-based compensation 

20,890


22,038


21,408


89,867


94,297


      Depreciation and amortization 

53,554


53,476


50,016


211,096


205,062


      Deferred taxes 

1,224


(9,942)


20,484


30,759


140,084


      In-process research and development

-


1,600


-


1,600


-


      (Gain) Loss from sale of property, plant and equipment

(1,412)


(6,487)


(1,797)


(7,648)


12,946


      Gain from discontinued operations

-


(45,372)


-


(45,372)


-


      Gain from sale of investments in privately-held companies

-


-


-


(1,811)


-


      Tax shortfall related to stock-based compensation plans

1,309


2,957


2,811


3,113


30,546


      Impairment of long-lived assets

22,933


7,712


-


30,645


-


      Excess tax benefit related to stock-based compensation 

(5,247)


(5,172)


(4,792)


(17,482)


(12,869)


      Changes in assets and liabilities: 











          Accounts receivable 

(21,206)


(50,026)


6,959


(19,262)


43,256


          Inventories 

(22,090)


12,412


(2,974)


(432)


(29,435)


          Other current assets 

(5,634)


2,332


16,031


(16,757)


53,255


          Accounts payable 

11,802


27,228


(8,621)


25,515


(4,746)


          Income taxes payable 

20,329


98,321


2,538


134,967


(45,318)


          Deferred income on shipments to distributors 

(2,449)


(2,407)


1,310


(10,601)


11,102


          Litigation Settlement

-


-


-


-


(173,000)


          All other accrued liabilities 

5,457


33,312


17,308


(38,202)


47,265


Net cash provided by operating activities 

190,094


196,499


246,274


756,722


861,454













Cash flows from investing activities: 











          Payments for property, plant and equipment

(76,610)


(70,053)


(48,063)


(264,348)


(175,253)


          Proceeds from sales of property, plant and equipment

1,400


13,774


2,295


16,883


27,624


          Acquisitions

(2,257)


-


(7,811)


(168,544)


(80,918)


          Discontinued operations

-


56,607


-


56,607


-


          Purchases of privately-held companies

(1,500)


(1,980)


-


(3,480)


-


          Purchases of available-for-sale securities

-


-


-


(25,108)


(49,787)


          Proceeds from sales of investments of privately-held companies

-


-


-


3,225


-


Net cash used in investing activities 

(78,967)


(1,652)


(53,579)


(384,765)


(278,334)













Cash flows from financing activities: 











         Excess tax benefit related to stock-based compensation 

5,247


5,172


4,792


17,482


12,869


          Mortgage liability

-


-


-


-


(3,237)


         Dividends paid

(64,408)


(64,384)


(62,077)


(257,731)


(249,145)


         Repayment of notes payable

(400)


-


-


(20,806)


(1,422)


         Repurchase of common stock

(56,282)


(28,970)


(59,008)


(246,412)


(231,012)


         Issuance of ESPP

18,807


-


16,281


33,772


28,850


         Net issuance of restricted stock units

(6,929)


(7,669)


(7,781)


(29,649)


(28,839)


         Proceeds from stock options exercised

13,347


20,395


8,716


49,906


24,845


Net cash used in financing activities 

(90,618)


(75,456)


(99,077)


(453,438)


(447,091)













Net increase (decrease) in cash and cash equivalents 

20,509


119,391


93,618


(81,481)


136,029


Cash and cash equivalents: 











          Beginning of period

860,551


741,160


868,923


962,541


826,512


          End of period

$     881,060


$      860,551


$      962,541


$      881,060


$      962,541













Total cash, cash equivalents, and short-term investments

$     956,386


$      935,956


$   1,012,887


$      956,386


$   1,012,887













ANALYSIS OF GAAP VERSUS GAAP EXCLUDING SPECIAL EXPENSE ITEMS DISCLOSURES


(Unaudited)




Three Months Ended


Year Ended




June 30,


March 31,


June 25,


June 30,


June 25,




2012


2012


2011


2012


2011




(in thousands, except per share data)


Reconciliation of GAAP gross profit to GAAP gross profit excluding special expense items:












GAAP gross profit


$           371,989


$              335,430


$           390,825


$        1,450,852


$        1,529,964


GAAP gross profit %


61.5%


58.7%


62.4%


60.4%


61.9%














Special expense items:












      Intangible asset amortization (1)


9,392


9,787


7,977


36,693


30,164


      Acquisition related inventory write up (2)


-


-


-


1,801


5,677


 Total special expense items 


9,392


9,787


7,977


38,494


35,841


 GAAP gross profit excluding special expense items 


$           381,381


$              345,217


$           398,802


$        1,489,346


$        1,565,805


 GAAP gross profit % excluding special expense items 


63.0%


60.4%


63.7%


62.0%


63.3%














Reconciliation of GAAP operating expenses to GAAP operating expenses excluding special expense items:












GAAP operating expenses


$           235,968


$              223,544


$           212,903


$           916,055


$           856,925














Special expense (income) items:












      Intangible asset amortization (1)


4,049


4,029


4,200


16,737


18,752


      Impairment of long-lived assets (3)


22,383


7,712


-


30,095


-


     Severance and restructuring 


18


228


(423)


6,785


1,247


     Other operating (income) expenses, net (4) 


(4,469)


(2,511)


(1,984)


(11,214)


19,124


 Total special expense items 


21,981


9,458


1,793


42,403


39,123


 GAAP operating expenses excluding special expense items 


$           213,987


$              214,086


$           211,110


$           873,652


$           817,802














Reconciliation of GAAP net income to GAAP net income excluding special expense items:












GAAP net income


$           110,634


$                54,517


$           125,593


$           386,727


$           489,009














Special expense (income) items:












      Intangible asset amortization (1)


13,441


13,816


12,177


53,430


48,916


     Acquisition related inventory write up (2)


-


-


-


1,801


5,677


      Impairment of long-lived assets (3)


22,383


7,712


-


30,095


-


     Severance and restructuring 


18


228


(423)


6,785


1,247


     Other operating (income) expenses, net (4) 


(4,469)


(2,511)


(1,984)


(11,214)


19,124


     Interest and other expense (income), net (5) 


550


-


-


(1,226)


-


                     Pre-tax total special expense items 


31,923


19,245


9,770


79,671


74,964


     Tax effect of special items 


(10,613)


(5,445)


(3,315)


(25,579)


(26,481)


     Reversal of tax reserves (6) 


-


(2,272)


(1,624)


(2,272)


(38,947)


     International restructuring (7) 


2,751


65,293


6,791


65,389


21,801


    Discontinued operations, net of tax (8)


-


(31,809)


-


(31,809)


-


 GAAP net income excluding special expense items 


$           134,695


$                99,529


$           137,215


$           472,127


$           520,346














 GAAP net income per share excluding special expense items: 












    Basic 


$             0.46


$                0.34


$             0.46


$             1.61


$             1.75


    Diluted 


$             0.45


$                0.33


$             0.45


$             1.57


$             1.72














Shares used in the calculation of earnings per share excluding special expense items: 











    Basic


292,757


292,276


295,751


292,810


296,755


    Diluted 


299,793


300,221


303,944


300,002


303,377














(1) Includes intangible asset amortization related to acquisitions.






(2) Includes expense related to fair value write up of inventory acquired as part of acquisitions. 






(3) Includes impairment charges relating to land and buildings held for sale, wafer fab and end of line manufacturing equipment.






(4) Other operating (income) expenses, net are primarily for loss (gain) on sale of land and buildings, contingent consideration adjustments related to certain acquisitions, stock option related litigation, certain payroll taxes, interest and penalties and in-process research and development written off.


(5) Includes gain on sale and impairment of privately-held companies.






(6) Includes reversal of tax reserves related to audit completion and expiration of statute of limitations.






(7) Includes impact due to implementation of international restructuring.






(8) Includes gain on sale, net of tax relating to certain businesses divested.





Non-GAAP Measures

To supplement the consolidated financial results prepared under GAAP, Maxim uses non-GAAP measures which are adjusted from the most directly comparable GAAP results to exclude special expense items related to intangible asset amortization; acquisition related inventory write up to fair value; impairment charges related to buildings and manufacturing equipment; severance and restructuring; stock option related litigation; certain payroll taxes, interest and penalties; contingent consideration adjustments relating to certain acquisitions; in-process research and development written off; gain on the sale of land and buildings; gain on sale and impairment of investments in privately-held companies; reversal of tax reserves related to audit completion and expiration of statute of limitations; the tax provision impacts due to implementation of international restructuring; and gain on sale, net of tax relating to certain businesses divested. Management uses these non-GAAP measures internally to make strategic decisions, forecast future results and evaluate Maxim's current performance. Many analysts covering Maxim use the non-GAAP measures as well. Given management's use of these non-GAAP measures, Maxim believes these measures are important to investors in understanding Maxim's current and future operating results as seen through the eyes of management. In addition, management believes these non-GAAP measures are useful to investors in enabling them to better assess changes in Maxim's core business across different time periods. These non-GAAP measures are not in accordance with or an alternative to GAAP financial data and may be different from non-GAAP measures used by other companies. Because non-GAAP financial measures are not standardized it may not be possible to compare these financial measures with other companies' non-GAAP financial measures, even if they have similar names. The non-GAAP measures displayed in the table above include the following:

GAAP gross profit excluding special expense items

The use of GAAP gross profit excluding special expense items allows management to evaluate the gross margin of the company's core businesses and trends across different reporting periods on a consistent basis, independent of special expense items including  intangible asset amortization and acquisition related inventory write up to fair value.  In addition, it is an important component of management's internal performance measurement and reward process as it is used to assess the current and historical financial results of the business, for strategic decision making, preparing budgets and forecasting future results. Management presents GAAP gross profit excluding special expense items to enable investors and analysts to evaluate our revenue generation performance relative to the direct costs of revenue of Maxim's core businesses.

GAAP operating expenses excluding special expense items

The use of GAAP operating expenses excluding special expense items allows management to evaluate the operating expenses of the company's core businesses and trends across different reporting periods on a consistent basis, independent of special expense items including intangible asset amortization; impairment charges related to buildings and manufacturing equipment; severance and restructuring; stock option related litigation; certain payroll taxes, interest and penalties; contingent consideration adjustments relating to certain acquisitions; in-process research and development written off; and gain on the sale of land and buildings. In addition, it is an important component of management's internal performance measurement and reward process as it is used to assess the current and historical financial results of the business, for strategic decision making, preparing budgets and forecasting future results. Management presents GAAP operating expenses excluding special expense items to enable investors and analysts to evaluate our core business and its direct operating expenses.   

GAAP net income and GAAP net income per share excluding special items

The use of GAAP net income and GAAP net income per share excluding special items allow management to evaluate the operating results of Maxim's core businesses and trends across different reporting periods on a consistent basis, independent of special items including intangible asset amortization; acquisition related inventory write up to fair value; impairment charges related to buildings and manufacturing equipment; severance and restructuring; stock option related litigation; certain payroll taxes, interest and penalties; contingent consideration adjustments relating to certain acquisitions; in-process research and development written off; gain on the sale of land and buildings; gain on sale and impairment of investments in privately-held companies; reversal of tax reserves related to audit completion and expiration of statute of limitations; the tax provision impacts due to implementation of international restructuring and gain on sale, net of tax relating to certain businesses divested. In addition, they are important components of management's internal performance measurement and reward process as it is used to assess the current and historical financial results of the business, for strategic decision making, preparing budgets and forecasting future results. Management presents GAAP net income and GAAP net income per share excluding special items to enable investors and analysts to understand the results of operations of Maxim's core businesses and to compare our results of operations on a more consistent basis against that of other companies in our industry.

"Safe Harbor" Statement

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 amended. These statements include the Company's financial projections for its first quarter of fiscal 2013 ending in September 2012, which includes revenue, gross margin and earnings per share, as well as the Company's belief that its balanced business model is sustainable. These statements involve risk and uncertainty. Actual results could differ materially from those forecasted based upon, among other things, general market and economic conditions and market developments that could adversely affect the growth of the mixed-signal analog market, product mix shifts, customer cancellations and price competition, as well as other risks described in the Company's Annual Report on Form 10-K for the fiscal year ended June 25, 2011 (the "10-K") and Quarterly Reports on Form 10-Q filed after the 10-K.

All forward-looking statements included in this news release are made as of the date hereof, based on the information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement except as required by law.

About Maxim

Maxim makes highly integrated analog and mixed-signal semiconductors. Maxim reported revenue of approximately $2.4 billion for fiscal 2012. For more information, go to www.Maxim-ic.com.

Contact
Venk Nathamuni
Managing Director, Investor Relations
(408) 601-5293

SOURCE Maxim Integrated Products, Inc.



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