CARLSBAD, Calif. – MaxLinear, a leading provider of radio frequency (RF), analog and mixed-signal integrated circuits for the connected home, wired and wireless infrastructure, and industrial and multimarket applications, today announced a revised preliminary revenue estimate range for the second quarter 2020.
MaxLinear's revenue guidance provided on April 29, 2020 was in the range of $60 million to $64 million. The company now expects preliminary total revenue of approximately $65 million to $65.5 million.
"During the second quarter, our business has shown solid improvements with stronger-than-expected revenues driven by a broadband demand uptick as well as analog product sales recovery. While we have seen some negative COVID-19 related impacts, the work-from-home environment has strongly benefited our connected home business owing to noticeable inflection in bandwidth demand at home. The infrastructure business also saw meaningful quarterly improvements over previous results, supporting our positive outlook on the new product ramps that are just beginning," commented Kishore Seendripu, Ph.D., Chairman and CEO.
"Additionally, we expect MaxLinear's acquisition of Intel's Home Gateway Platform Division to close during the current quarter ending September 30, 2020," continued Dr. Seendripu.
There will be no conference call associated with this press release. MaxLinear will report results for the second quarter and provide its outlook for the third quarter during its next earnings conference call scheduled for July 23, 2020 after market close. The Company will host a corresponding conference call at 1:30 p.m. Pacific Time, 4:30 p.m. Eastern Time.
Read the full announcement here.