Maxim Integrated Products, Inc. reported preliminary unaudited consolidated earnings results for the second quarter ended December 30, 2017. For the quarter, the company's net revenues were $622,637,000 compared to $550,998,000 a year ago. Operating income was $201,048,000 compared to $149,074,000 a year ago. Income before provision for income taxes was $197,927,000 compared to $148,438,000 a year ago. Net loss was $75,015,000 compared to net income of $130,477,000 a year ago. Diluted loss per share was $0.27 compared to earnings per share of $0.45 a year ago. Net cash provided by operating activities was $229,875,000 compared to $192,630,000 a year ago. Purchase of property, plant and equipment was $22,413,000 compared to $15,775,000 a year ago. GAAP net income excluding special items was $186,067,000 compared to $132,695,000 a year ago. GAAP net income per diluted share excluding special items was $0.65 compared to $0.46 a year ago. The company's performance in the December quarter. Compared to the same quarter last year, revenue growth was led by double-digit increases in Industrial and Automotive with continued solid company profitability.

The company announced impairment charges for the second quarter of fiscal 2018. The company's impairment of long-lived assets was $850,000 compared to $383,000 a year ago.

The company's 90-day backlog at the beginning of the March 2018 quarter was $446 million. Based on the beginning backlog and expected turns, results for the March 2018 quarter are forecasted to be as follows: revenue: $620 to $660 million, gross margin: 64% to 66% GAAP (66% to 68% excluding special items) and EPS: $0.63 to $0.69 GAAP ($0.66 to $0.72 excluding special items). The company's business outlook does not include the potential impact of any special items related to restructuring activity, acquisitions, or other business combinations that may be completed during the quarter.