Operating expenses excluding special items were $223 million, flat with Q1. Salary expense increased due to the 14 th week, but was offset by lower acquisition and mass expenses. Special items in Q2 operating expenses were primarily restructuring charges and intangible asset amortization from acquisitions.Q2 GAAP operating income excluding special items was $135 million or 23% of revenue. The Q2 GAAP tax rate excluding special items was 26% compared to 23% in the prior quarter, which benefited from certain discrete items. GAAP earnings per share excluding special items was $0.34 down from $0.46 in Q1 due to lower revenue and gross margin.
Maxim Integrated Products' CEO Discusses F2Q 2012 Results - Earnings Call Transcript
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