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By Ben Glickman
Shares of MaxLinear fell late Wednesday after the company forecast another decline in revenue in the first quarter.
The stock was down 12% to $18.32 in after-hours trading, following a 3.2% drop at Wednesday’s close. Shares are up 37% in the last three months.
The Carlsbad, Calif.-based integrated circuits provider said after the market closed Wednesday that revenue fell 57% from a year ago to $125.4 million in the fourth quarter, just ahead of the $125.2 million forecast by analysts polled by FactSet.
The company expects revenue of $85 million to $105 million in the first quarter, down from $248.4 million in the year-ago period. Analysts polled by FactSet expect $121.8 million in revenue.
MaxLinear posted a loss of $38.5 million, or 47 cents a share, in the quarter ended Dec. 31, compared with a profit of $31.1 million, or 38 cents a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 51 cents.
Write to Ben Glickman at [email protected]
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