MaxLinear sees Q2 sales rise 5% sequentially but down 21% yoy

MaxLinear, which supplies RF, analog and mixed-signal integrated circuits for the connected home, wired and wireless infrastructure, reported Q2 revenue of $65.2 million, up 5% sequentially, and down 21% year-on-year. GAAP gross margin was 50.2%. GAAP diluted loss per share was $0.30, compared to diluted loss per share of $0.21 in the prior quarter, and diluted loss per share of $0.03 in the year-ago quarter.

“In the second quarter, revenue results were in line with our recent preliminary revenue guidance, gross margin was strong, and operating expenses were tightly managed to below the mid-point of our guidance. Our business showed solid improvements due to stronger-than-expected revenues in broadband driven by demand uptick, as well as analog product sales recovery. 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. Finally, the high-performance analog products selling into our industrial, multi-market segment recovered extremely well in the quarter with impressive results,” commented Kishore Seendripu, Ph.D., Chairman and CEO.