MaxLinear, Inc. (NYSE:MXL) Q4 2019 Earnings Conference Call - Final Transcript

Feb 05, 2020 • 04:30 pm ET


MaxLinear, Inc. (NYSE:MXL) Q4 2019 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Greetings, and welcome to the MaxLinear Fourth Quarter 2019 Financial Results 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.

It is now my pleasure to introduce your host Brian Nugent. Please go ahead, sir.

Brian Nugent

Thank you, operator. Good afternoon, everyone, and thank you for joining us on today's conference call to discuss MaxLinear's fourth quarter 2019 financial results. Today's call is being hosted by Dr. Kishore Seendripu, CEO; and Steve Litchfield, Chief Financial Officer and Chief Corporate Strategy Officer. After our prepared comments, we will take questions.

Our comments today include forward-looking statements within the meaning of applicable securities laws, including statements relating to our first quarter 2020 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 in various products and geographic markets including, without limitation, statements concerning growth opportunities for our wireless, infrastructure and connectivity markets and for improved revenues in our broadband markets.

These forward-looking statements involve substantial risks and uncertainties, including risks arising from competition, the outcome of global trade negotiations, export restrictions, potential supply constraints, our dependence on a limited number of customers, average selling price trends, risks that our markets and growth opportunities may not develop as we currently expect, and that our assumptions concerning these opportunities may prove incorrect and numerous other risk factors outlined in the risk factors section of our recent SEC filings, including our Form 10-K for the year ended December 31st 2019, which was filed today. 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 2019 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, income taxes, 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 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 more meaningful comparisons 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, Brian, and good afternoon everyone. Thank you all for joining us today. Our Q4 2019 revenue was $70