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MaxLinear provides revised second quarter 2015 guidance, which includes May and June post-acquisition contribution from Entropic Communications – Revenues to be in the Range of $68 Million to $72 Million in the Second Quarter of 2015, and $175 Million to $185 Million in the Second Half of 2015
MaxLinear, Inc. (NYSE:MXL), a provider of integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communication and data center, metro, and long-haul transport network applications, today announced guidance for the second quarter 2015 and for the second half 2015.
Revenue is expected to be between $68 million and $72 million for the second quarter 2015.
– GAAP and non-GAAP gross margin in the second quarter 2015 are expected to be approximately 41.5 percent and 57.5 percent, respectively, +/- 2 percent.
– GAAP and non-GAAP operating expenses for the second quarter 2015 are expected to be $60 million and $28 million, respectively.
– GAAP and non-GAAP income/(loss) from operations for the second quarter 2015 are expected to be a loss of $30 million and income of $12 million, respectively.
– Basic and fully-diluted weighted average shares outstanding are expected to be 52.5 million and 54.7 million, respectively.
MaxLinear provides second half 2015 guidance:
– Revenue is expected to be between $175 million and $185 million for the second half 2015.
– GAAP and non-GAAP gross margin in the second half 2015 are expected to be approximately 50.5 percent and 55.5 percent, respectively, +/- 2 percent.
– GAAP and non-GAAP operating expenses for the second half 2015 are expected to be $100 million and $64 million, respectively.
– GAAP and non-GAAP income/(loss) from operations for the second half of 2015 are expected to be a loss of $9 million and income of $36 million, respectively.
– Basic and fully-diluted weighted average shares outstanding are expected to be 60.5 million and 62.5 million, respectively.
“We are pleased to provide the first financial guidance as a combined company following the successful closure of the acquisition of Entropic Communications on April 30, 2015,” commented Kishore Seendripu, Ph.D., Chairman and CEO. “We are seeing strong follow-through of demand across the range of our expanded technology and market-leading broadband data and video product portfolio. This demand is being primarily driven by tier-one operators across the globe, who continue to invest in higher-bandwidth and richer multimedia content delivery platforms. We are already benefiting from both the strategic and tactical goals of this acquisition, consisting of greatly increased customer platform relevancy, and the realization of significant tangible operating cost synergies. We have already made substantial progress towards achieving our target of $20 million in operating cost synergies in the first full calendar year following the acquisition of Entropic.
“Our guidance for GAAP operating expenses is significantly impacted by our current assumptions regarding the purchase price accounting and other non-recurring expenses related to the Entropic acquisition that closed on April 30, 2015, and for which the details will be provided in our forthcoming second quarter 2015 earnings release and 10-Q filing.”
