MaxLinear, Inc. Announces Q4 EPS of $0.17 vs. $(0.02)

MaxLinear, Inc. (NYSE: MXL) today announced financial results for the fourth quarter and fiscal year ended December 31, 2010. Net revenue for the fourth quarter of 2010 was $15.9 million, which came in at the high end of our prior guidance of $14.5 million to $16 million. This represents a decrease of 14 percent compared to the third quarter of 2010 and a 4 percent increase over the fourth quarter of 2009. Net income for the fourth quarter of 2010 was $5.7 million, or $0.17 per share (diluted), which included a one-time tax benefit of $6.7 million, or $0.20 per share (diluted), associated with the release of the valuation allowance related to federal deferred tax assets, compared with net income of $1.4 million, or $0.04 per share (diluted), for the third quarter of 2010, and net income of $1.9 million, or $0.05 per share (diluted), for the fourth quarter of 2009.