MaxLinear, Inc. (NYSE:MXL) Q1 2018 Earnings Conference Call - Preliminary Transcript

May 08, 2018 • 04:30 pm ET

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MaxLinear, Inc. (NYSE:MXL) Q1 2018 Earnings Conference Call - Preliminary Transcript

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Presentation
Operator
Operator

Greetings and welcome to MaxLinear 2018 Q1 Conference Call. (Operator Instructions) I would now like to turn the conference over to your host, Gideon Massey.

Executive
Gideon Massey

Thank you, operator. Good afternoon, everyone and thank you for joining us on today's conference call to discuss MaxLinear's first quarter 2018 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 second quarter 2018 revenue, gross margin, operating expense, tax expense, tax rate and interest and other expense guidance as well as statements relating to trends, opportunities and uncertainties and various product and geographic markets, including without limitation, statements concerning assumptions and factors concerning potential variability in second quarter 2018 expectations.

These forward-looking statements involve substantial risks and uncertainty, including risk arising from competition, our dependence on limited number of customers, average selling price trends, the accuracy of our assumptions concerning the reasons for increased variability in our revenue expectations, risk that our market and growth opportunities may not develop as we currently expect and numerous other risks outlined in our SEC filings. 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 filings captioned Risk Factors in our previously filed Form 10-K for the year ended December 31, 2017 and in our upcoming Form 10-Q for the quarter ended March 31, 2018 which we expect to file shortly.

Any forward-looking statements are made as of today and MaxLinear has no obligations to update or revise any forward-looking statements. The first quarter 2018 earnings release is available in the Investor Relations section of our website at maxlinear.com. In addition, we reported certain historical financial metrics, including net revenue, gross margins, operating expenses, income or loss from operations, pre-tax margins, effective tax rate, net income or loss and net income or loss per share on both a GAAP and non-GAAP basis. We encourage investors to review the detailed reconciliation of our GAAP and non-GAAP presentations 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 meaningful comparison of our operating results in a manner similar to management's analysis of our business. Lastly, this call is being webcast and a replay will be available on our website for 2 weeks. And now, let me turn the call over to Kishore Seendripu, CEO of MaxLinear.

Executive
Kishore Seendripu

Thank you, Gideon, and good afternoon, everyone. Thank you all for joining us today. We are pleased to report Q1