SAN FRANCISCO—Chip makers Maxim Integrated Products Inc. and LSI Corp. and semiconductor capital equipment vendor KLA-Tencor Corp. delivered quarterly results this week that exceeded analysts.
Maxim (Sunnyvale, Calif.) reported record revenue of $626.5 million for the quarter ended June 25, up 3 percent from the prior quarter and up 11 percent compared to the same period of 2010. The company posted a net income based on generally accepted accounting principles (GAAP) or $125.6 million, or 42 cents per share, down 8 percent from the previous quarter and up 115 percent from the year-ago quarter.
Consensus analysts' expectations called for Maxim to report sales of $625.5 million and earnings of 42 cents per share, according to Yahoo Finance.
Maxim said it expects revenue for the current quarter to be between $625 million and $655 million.
"We are aware of the current macro economic uncertainty and are prepared to react to various revenue scenarios," said Tunc Doluca, Maxim's president and CEO, in a statement. "However, based on multiple design wins across our end markets we are confident of our long term growth."
LSI (Milpitas, Calif.) reported second quarter sales of $501 million, up 6 percent compared with both the previous and year-ago quarters. The company reported a GAAP net income from continuing operations of $28 million, or 5 cents per share, compared to a GAAP net income of $3 million in the year-ago quarter.
On a non-GAAP basis, excluding special items, amortization of acquisition-related items and stock-based compensation expense, LSI reported a net income from continuing operations of $60 million, or 10 cents per diluted share, compared to second quarter 2010 non-GAAP income from continuing operations of $61 million, or 9 cents per diluted share.
Consensus analysts' expectations had called for LSI to report sales of $482.3 million and non-GAAP net income of 10 cents per share, according to Yahoo Finance.
For the third quarter, LSI said it expects revenue for continuing operations to be between $535 million and $565 million, a sequential increase of 10 percent at the midpoint.
"With our transformation complete, we are well positioned to drive above-market growth, generate greater profitability and increase shareholder value," said Abhi Talwalkar, LSI president and CEO, in a statement.
LSI said its capital spending is projected to be around $20 million in the third quarter and approximately $55 million in total for 2011.
KLA-Tencor (Milpitas, Calif.) reported sales of $892 million for its fiscal fourth quarter, ended June 30, up 7 percent from the previous quarter and up 60 percent compared to the year-ago quarter. The company reported a net income for the quarter of $245 million, or $1.43 million for the quarter, up 17 percent from the previous quarter and up 117 percent year-over-year.
Consensus analysts' expectations called for KLA-Tencor to report sales of $872.7 million and earnings of $1.37 per share, according to Yahoo Finance.
For its fiscal year, also ended June 30, KLA-Tencor reported sales of $3.2 billion, up 78 percent from fiscal 2010.
Maxim, LSI, KLA-Tencor Earnings: Maxim, LSI, KLA beat estimates
