-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Lv3LgNKKbZga7DmMYBPpdtBsvKIT3puoLzXEeDljTecT4OT/F+TZXjrrPLJLM43G D3AkOCGTgqLndXD03VsYGg== 0001136261-08-000073.txt : 20080501 0001136261-08-000073.hdr.sgml : 20080501 20080501162347 ACCESSION NUMBER: 0001136261-08-000073 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20080501 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080501 DATE AS OF CHANGE: 20080501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MAXIM INTEGRATED PRODUCTS INC CENTRAL INDEX KEY: 0000743316 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 942896096 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16538 FILM NUMBER: 08795055 BUSINESS ADDRESS: STREET 1: 120 SAN GABRIEL DR CITY: SUNNYVALE STATE: CA ZIP: 94086 BUSINESS PHONE: 4087377600 MAIL ADDRESS: STREET 1: 120 SAN GABRIEL DR CITY: SUNNYVALE STATE: CA ZIP: 94086 8-K 1 body8k.htm 8-K May 1, 2008 8K DOC


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549



FORM 8-K


CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: May 1, 2008
(Date of earliest event reported)

Maxim Integrated Products, Inc.
(Exact name of registrant as specified in its charter)

 
Delaware
0-16538
94-2896096
 (State of other jurisdiction of incorporation)
 (Commission File Number)
(I.R.S. Employer Identification Number)

120 San Gabriel Drive
Sunnyvale, California    94086

(Address of principal executive offices including zip code)

(408) 737-7600
(Registrant's telephone number, including area code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



Item 2.02.    Results of Operations and Financial Condition.

     On May 1, 2008, Maxim Integrated Products, Inc. (the "Company") announced via press release the Company's preliminary financial results for its third quarter of fiscal year 2008 ended March 29, 2008. A copy of the Company's press release is attached hereto as Exhibit 99.1.

     The information in this Current Report and attached Exhibit 99.1 are furnished to, but not filed with, the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, and such information shall not be deemed to be incorporated by reference into any of the Company's filings with the Securities and Exchange Commission, except as shall be expressly set forth by specific reference in any such filing.

Item 9.01.    Financial Statements and Exhibits.

(d) Exhibits.

The exhibit listed below is being furnished with this Form 8-K.
Exhibit No.

Description

 99.1

Press release dated May 1, 2008 announcing the Company's preliminary financial results for the third quarter of fiscal year 2008.








SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

  Maxim Integrated Products, Inc.

  By:   /s/ Bruce E. Kiddoo
       Bruce E. Kiddoo
       Vice President of Finance

Date: May 1, 2008






EXHIBIT INDEX

Exhibit No.

Description

 99.1

Press release dated May 1, 2008 announcing the Company's preliminary financial results for the third quarter of fiscal year 2008.       PDF provided as a courtesy








EX-99.1 3 exh99-1.htm PRESS RELEASE May 1, 2008 8K Exhibit 99.1

Press Information

FOR IMMEDIATE RELEASE
PINK OTC MARKETS: MXIM

Contact:      Paresh Maniar,
                    Executive Director, Investor Relations
                    (408) 470-5348

MAXIM REPORTS THIRD QUARTER REVENUE OF $487.4 MILLION

SUNNYVALE, CA- May 1, 2008-Maxim Integrated Products, Inc., (PINK OTC MARKETS: MXIM) reported net revenues of $487.4 million for its fiscal 2008 third quarter ending March 29, 2008. This is a 2.4% increase from the $475.8 million recorded in the third quarter of fiscal 2007, and a 9.7% sequential decrease from the $540.0 million revenue recorded in the previous quarter.

Total cash, cash equivalents and short-term investments increased by $34.4 million during the third quarter to $1.2 billion. Strong cash flow generated from operations was primarily offset by $60.1 million for dividends and $45.9 million in payments for previously acquired property and equipment.

Maxim is not currently providing detailed GAAP and non-GAAP financials for the quarter ending March 29, 2008 due to the previously announced requirement to restate its historical financial statements to record additional non-cash, stock-based compensation expense related to past stock-option grants. Consequently, limited financial data is being presented.

Business Outlook

Maxim's third quarter net realizable bookings increased by 2.7% compared to the second quarter of fiscal 2008. The Company projects revenue for the fourth quarter to be in the range of $490 to $510 million.

- more -


Tunc Doluca, President and Chief Executive Officer, commented, "During my recent visits with customers in Europe and Asia, I saw firsthand the value of our improved execution. We have now achieved preferred supplier status at 10 of our 11 partner accounts who provide formal supplier ratings. Maxim has a well-established reputation for developing innovative analog and mixed-signal solutions. Through our focused efforts of the past year we have now earned the increased trust of our customers. Our improved position to deliver innovative solutions provides us a great opportunity to accelerate our growth."

Dividend

A cash dividend for the third quarter of fiscal 2008 of $0.1875 per share will be paid on May 29, 2008 to stockholders of record on May 14, 2008.

- more -


MAXIM INTEGRATED PRODUCTS, INC.
SELECTED UNAUDITED FINANCIAL INFORMATION
           
           
  Three Months Ended
  March 29, 2008
  December 29, 2007
  March 24, 2007
  (in thousands)
           
Net revenues $ 487,410 
  $ 540,025 
  $ 475,799 
           
           
  March 29, 2008
  December 29, 2007
  March 24, 2007
  (in thousands)
           
Cash and cash equivalents (1) $ 1,203,360    $ 1,021,584    $ 383,061 
Short-term investments -  
  147,375 
  941,189 
  $ 1,203,360 
  $ 1,168,959 
  $ 1,324,250 
           
Accounts receivable, net $ 269,292 
  $ 285,262 
  $ 250,703 
           
Additions to property, plant and equipment $ 41,876 
  $ 65,892 
  $ 71,526 
           
(1) Includes restricted cash of $14.3 million and $14.2 million at March 29, 2008
and December 29, 2007, respectively, which represents cash proceeds from the sale
of a real property asset held for potential tax deferral.
           
Note: Due to the pending restatement of the Company's historical financial statements
(see discussion in the release text), all financial numbers presented in this release should
be considered estimates and may be subject to significant adjustment.

****

"Safe Harbor" Statement

Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This includes the Company's need to restate its historical financial statements to record additional non-cash, stock-based compensation expense related to past stock-option grants, the Company's expectation that revenue for the fourth quarter of fiscal 2008 will be in the range of $490 to $510 million and the Company's belief that the combination of its engineering prowess and customer confidence in it as a reliable supplier creates great growth opportunities. These


statements involve risk and uncertainty. Actual results could differ materially from those forecasted based upon, among other things, general market conditions and market developments that could adversely affect the growth of the mixed-signal analog market product mix shifts, customer cancellations and price competition, as well as other risks described in the Company's Annual Report on Form 10-K for the fiscal year ended June 25, 2005. In addition, the risk that the matters described in this press release could divert management's attention from operations, and the fact that expenses arising from the restatement, related private litigation, and other associated activities are expected to be significant.

All forward-looking statements included in this news release are made as of the date hereof, based on the information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.

About Maxim

Maxim Integrated Products is a publicly traded company that designs, manufactures, and sells over $2 billion of high-performance semiconductor products annually. It was founded over 25 years ago with the mission to deliver innovative analog and mixed-signal engineering solutions that add value to its customers' products. To date, Maxim has developed over 5600 products serving the Industrial, Communications, Consumer, and Computing markets. For more information, go to www.maxim-ic.com.

# # #


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