Reconciliations of non-GAAP measures for the historic periods disclosed in this press release appear below. Because of the inherent uncertainty associated with our ability to project future charges, particularly related to stock-based compensation and its related tax effects as well as potential impairments, we have not provided a reconciliation for non-GAAP guidance provided for the first quarter 2018.
About MaxLinear, Inc.
MaxLinear, Inc. (NYSE:MXL) is a leading provider of radio frequency (RF) and mixed-signal and high-performance analog integrated circuits for the connected home, wired and wireless infrastructure, and industrial and multi-market applications. MaxLinear is headquartered in Carlsbad, California. For more information, please visit www.maxlinear.com.
MXL is MaxLinear’s registered trademark. Other trademarks appearing herein are the property of their respective owners.
MaxLinear, Inc. Investor Relations Contact:
Gideon Massey
Investor Relations Specialist
Tel: 949-333-0056
gmassey@maxlinear.com
| MAXLINEAR, INC. | |||||||||||
| UNAUDITED GAAP CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||
| (in thousands, except per share data) | |||||||||||
| Three Months Ended | |||||||||||
| December 31, 2017 | September 30, 2017 | December 31, 2016 | |||||||||
| Net revenue | $ | 113,721 | $ | 113,581 | $ | 87,136 | |||||
| Cost of net revenue | 61,628 | 61,739 | 36,733 | ||||||||
| Gross profit | 52,093 | 51,842 | 50,403 | ||||||||
| Operating expenses: | |||||||||||
| Research and development | 30,116 | 29,270 | 24,035 | ||||||||
| Selling, general and administrative | 26,843 | 29,037 | 16,720 | ||||||||
| IPR&D impairment losses | — | 2,000 | — | ||||||||
| Restructuring charges | 800 | 2,178 | 1,326 | ||||||||
| Total operating expenses | 57,759 | 62,485 | 42,081 | ||||||||
| Income (loss) from operations | (5,666 | ) | (10,643 | ) | 8,322 | ||||||
| Interest income | 14 | 1 | 146 | ||||||||
| Interest expense | (4,044 | ) | (4,133 | ) | (7 | ) | |||||
| Other income (expense), net | (793 | ) | (668 | ) | 130 | ||||||
| Total interest and other income (expense), net | (4,823 | ) | (4,800 | ) | 269 | ||||||
| Income (loss) before income taxes | (10,489 | ) | (15,443 | ) | 8,591 | ||||||
| Income tax provision (benefit) | 8,959 | (6,276 | ) | 243 | |||||||
| Net income (loss) | $ | (19,448 | ) | $ | (9,167 | ) | $ | 8,348 | |||
| Net income (loss) per share: | |||||||||||
| Basic | $ | (0.29 | ) | $ | (0.14 | ) | $ | 0.13 | |||
| Diluted | $ | (0.29 | ) | $ | (0.14 | ) | $ | 0.12 | |||
| Shares used to compute net income (loss) per share: | |||||||||||
| Basic | 67,147 | 66,712 | 64,752 | ||||||||
| Diluted | 67,147 | 66,712 | 68,421 | ||||||||
