MaxLinear, Inc. (NYSE:MXL) Q4 2017 Earnings Conference Call Transcript

Feb 13, 2018 • 04:30 pm ET


MaxLinear, Inc. (NYSE:MXL) Q4 2017 Earnings Conference Call Transcript


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Greetings, and welcome to MaxLinear 2017 Q4 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Gideon Massey, Investor Relations. Thank you. You may begin.

Gideon Massey

Thank you, operator. Good afternoon, everyone, and thank you for joining us on today's conference call to discuss MaxLinear's fourth quarter 2017 financial results.

Today's call is being hosted by Dr. Kishore Seendripu, CEO; and Adam Spice, CFO. After our prepared comments, we will take questions. Our comments today include forward-looking statements within the meaning of applicable security laws, including statements relating to our first quarter 2018 revenue, gross margin, operating expense, tax expense, tax rate and interest and other expense guidelines as well as statements relating to trends, opportunities and uncertainties and various product in geographic markets.

These forward-looking statements involve substantial risk and uncertainty, including risks arising from competition, average selling price trends and numerous other risks outlined in our SEC filing. Actual results may differ materially from currently forecasted results. For a detailed discussion of the risks and uncertainties potentially affecting these forward-looking statements, we encourage investors to review the section of our SEC filing captioned risk factors and our previously filed Form 10-Q for the quarter ended September 30, 2017, and our upcoming Form 10-K for the year ended December 31, 2017, which we expect to file later this month. Any forward-looking statements are made as of today and MaxLinear has no obligation to update or revise any forward-looking statements. The fourth quarter 2017 earnings release is available in the Investor Relations section of our website at

In addition, we report certain historical financial metrics, including net revenues, gross margins, operating expenses, income or loss from operations, pretax margin, effective tax rate, net income or loss and net income or loss per share on both GAAP and non-GAAP basis. We encourage investors to review the detailed reconciliation of our GAAP and non-GAAP presentation in the press release available on our website. We do not provide a reconciliation of non-GAAP guidance for future periods because of the inherent uncertainty associated with our ability to project certain future charges, including stock-based compensation and its associated tax effects.

Non-GAAP financial measures discussed today do not replace the presentation of MaxLinear GAAP financial results. We are providing this information to enable investors to perform a more meaningful comparison of our operating results in a manner similar to management's analysis of our business. Lastly, this call is also being webcast and a replay will be available on our website for two weeks.

And now let me turn the call over to Kishore Seendripu, CEO of MaxLinear.

Kishore Seendripu

Thank you, Gideon, and good afternoon, everyone. Thank you all for joining us today. We are pleased to report Q4 2017 revenue of $113.7 million, which is up 31% year-over-year and flat quarter-over-quarter. During Q4, we witnessed