This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

MaxLinear, Inc. Announces Preliminary Fourth Quarter And Fiscal Year 2011 Financial Results

Stock quotes in this article: MXL

MaxLinear, Inc. (NYSE:MXL), a provider of highly integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communications applications, today announced preliminary, unaudited financial results for the fourth quarter and fiscal year ended December 31, 2011.

Management Commentary

“2011 was an exciting year for MaxLinear, one in which we made significant progress in redefining our scope and execution capabilities despite very challenging business conditions. We were able to introduce new product lines to offset declines in some of our legacy product lines. Most notably, we have firmly established a new growth platform in the form of Cable and made investments to set the stage for future growth in exciting platforms such as hybrid TV, new terrestrial set-top technologies, and other forthcoming product applications,” commented Kishore Seendripu, Ph.D, Chairman and CEO. “We are excited about our prospects and are focused on executing on growth initiatives that we believe should result in long-term and meaningful operating leverage for the business going forward.”

Generally Accepted Accounting Principles (GAAP) Results

Net revenue for the fourth quarter of 2011 was $19.3 million, an increase of 9 percent compared to the third quarter of 2011 and an increase of 22 percent compared to the fourth quarter of 2010.

Gross profit in the fourth quarter of 2011 was 61 percent of revenue, compared to 64 percent in the third quarter of 2011 and 66 percent in the fourth quarter of 2010. Loss from operations in the fourth quarter of 2011 was 22 percent of revenue, compared to 18 percent in the third quarter of 2011 and compared to a 7 percent loss as a percent of revenue in the fourth quarter of 2010.

Net loss for the fourth quarter of 2011 was $4.7 million, or $0.14 per share (diluted), compared with $11.4 million, or $0.35 per share (diluted), for the third quarter of 2011 and net income of $5.7 million, or $0.17 per share (diluted), for the fourth quarter of 2010. Included in the previously reported GAAP operating results for the third quarter of 2011 was an $8.2 million charge associated with the establishment of a valuation allowance related to federal deferred tax assets. Included in the previously reported GAAP operating results for the fourth quarter of 2010 was a one-time tax benefit of $6.7 million associated with the release of a valuation allowance related to federal deferred tax assets.

1 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs