Company generated 224 percent revenue growth during the relevant
measurement period driven by strong organic broadband initiatives
as well as strong performances by acquisitions
MaxLinear, Inc. (NYSE:MXL), a leading provider of radio
frequency (RF), analog and mixed-signal integrated circuits for the
connected home, wired and wireless infrastructure, and industrial
and multimarket applications, today announced it ranked 361st on
Deloitte’s Technology Fast 500™, a ranking of the 500
fastest-growing technology, media, telecommunications, life
sciences and energy tech companies in North America. MaxLinear was
selected based on its 224 percent revenue increase during the
three-year period ended December 31, 2016.
"Even as we have become a bigger company, we still remain a
growth company, and being included on the Deloitte Fast 500 proves
that," said Kishore Seendripu, MaxLinear CEO. “Our acquisitions
have brought in additional products, but just as important they
have expanded the number of innovative employees at MaxLinear,
which is the real key behind our fast growth."
“The Deloitte 2017 North America Technology Fast 500 winners
underscore the impact of technological innovation and world-class
customer service in driving growth, in a fiercely competitive
environment,” said Sandra Shirai, vice chairman, Deloitte
Consulting LLP and U.S. technology, media and telecommunications
leader. “These companies are on the cutting edge and are
transforming the way we do business. We extend our sincere
congratulations to all the winners for achieving remarkable growth
while delivering new services and experiences for their
customers.”
“Emerging growth companies are powering innovation in the
broader economy. The growth rates delivered by the companies on
this year’s North America Technology Fast 500 ranking are a bright
spot for the capital markets and a strong indicator that the
emerging growth technology sector will continue to deliver a strong
return on investment,” said Heather Gates, national managing
director of Deloitte & Touche LLP’s emerging growth company
practice. “Deloitte is dedicated to supporting the best and
brightest companies of the future in the emerging growth company
sector. We are proud to acknowledge the significant accomplishments
of this year’s Fast 500 winners.”
Overall, 2017 Technology Fast 500™ companies achieved revenue
growth ranging from 135 percent to 59,093 percent from 2013 to
2016, with median growth of 380 percent.
About Deloitte’s 2017 Technology Fast 500™Deloitte’s
Technology Fast 500 provides a ranking of the fastest growing
technology, media, telecommunications, life sciences and energy
tech companies — both public and private — in North America.
Technology Fast 500 award winners are selected based on percentage
fiscal year revenue growth from 2013 to 2016.
In order to be eligible for Technology Fast 500 recognition,
companies must own proprietary intellectual property or technology
that is sold to customers in products that contribute to a majority
of the company's operating revenues. Companies must have base-year
operating revenues of at least $50,000 USD, and current-year
operating revenues of at least $5 million USD. Additionally,
companies must be in business for a minimum of four years and be
headquartered within North America.
Deloitte refers to one or more of Deloitte Touche Tohmatsu
Limited, a UK private company limited by guarantee (“DTTL”), its
network of member firms, and their related entities. DTTL and each
of its member firms are legally separate and independent entities.
DTTL (also referred to as “Deloitte Global”) does not provide
services to clients. In the United States, Deloitte refers to one
or more of the US member firms of DTTL, their related entities that
operate using the “Deloitte” name in the United States and their
respective affiliates. Certain services may not be available to
attest clients under the rules and regulations of public
accounting. Please see www.deloitte.com/about to learn more about
our global network of member firms.
About MaxLinear, Inc.MaxLinear, Inc. (NYSE:MXL), a
leading provider of radio frequency (RF), analog and mixed-signal
integrated circuits for the connected home, wired and wireless
infrastructure, and industrial and multimarket applications.
MaxLinear is headquartered in Carlsbad, California. For more
information, please visit www.maxlinear.com.
MxL and the MaxLinear logo are trademarks of MaxLinear, Inc.
Other trademarks appearing herein are the property of their
respective owners.
Cautionary Note Concerning Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Forward-looking statements include, among others,
statements concerning or implying MaxLinear’s future revenue growth
or financial performance (including statements concerning or
implying MaxLinear’s ability to continue to increase its revenues).
These forward-looking statements involve known and unknown risks,
uncertainties, and other factors that may cause actual results to
be materially different from any future results expressed or
implied by the forward-looking statements. Forward-looking
statements are based on management’s current, preliminary
expectations and are subject to various risks and uncertainties. In
particular, MaxLinear’s future operating results are substantially
dependent on its assumptions about market trends and conditions and
its expectations with respect to recently completed acquisitions.
There can be no assurances that MaxLinear’s revenues will continue
to grow or that revenue growth, if any, in future periods will
compare favorably with revenue growth in prior periods. With
respect to recently completed acquisitions, MaxLinear faces
particular risks associated with its ability to integrate the
acquired businesses and maintain relationships with employees,
customers, and vendors. Exar’s target markets and business
operations differ substantially from those of MaxLinear, and
MaxLinear may be unable to realize anticipated strategic,
financial, and operating synergies to the same relative extent as
it was able to achieve in other recent acquisitions. In addition,
MaxLinear’s decisions with respect to all its acquisitions were
based on management’s then-current expectations with respect to the
size of the available markets and growth opportunities presented by
these acquisitions, all of which are subject to material risks and
uncertainties. In connection with the acquisition of Exar,
MaxLinear incurred substantial acquisition-related indebtedness,
which materially changed its financial profile and which presents
specific risks relating to MaxLinear’s ability to service interest
and principal payments and limitations on its operating flexibility
based on operating covenants in the applicable term loan
agreements, including (without limitation) debt covenant
restrictions that limit its ability to obtain additional financing,
issue guarantees, create liens, make certain restricted payments or
repay certain obligations or to pursue future acquisitions.
Additional risks and uncertainties arising from MaxLinear’s
operations generally and its recently completed acquisitions
include intense competition in its industry; its dependence on a
limited number of customers for a substantial portion of its
revenues; uncertainties concerning how end user markets for its
products will develop; potential uncertainties arising from
continued consolidation among cable television and satellite
operators in its target markets and continued consolidation among
competitors within the semiconductor industry generally; its
ability to develop and introduce new and enhanced products on a
timely basis and achieve market acceptance of those products,
particularly as its seeks to expand outside of its historic
markets; potential decreases in average selling prices for its
products; risks relating to intellectual property protection and
the prevalence of intellectual property litigation in its industry;
indemnification obligations of Exar arising from a recent
divestiture; the impact on its financial condition of the incurred
acquisition indebtedness and cash usage arising from the Exar
transaction; its reliance on a limited number of third party
manufacturers; and its lack of long-term supply contracts and
dependence on limited sources of supply. In addition to these risks
and uncertainties, investors should review the risks and
uncertainties contained in our filings with the Securities and
Exchange Commission (SEC), including MaxLinear’s most recent Annual
Report on Form 10-K for the year ended December 31, 2016 filed with
the SEC on February 9, 2017; its Quarterly Reports on Form 10-Q for
the quarters ended March 31, 2017, June 30, 2017; its Current
Reports on Form 8-K; and the information set forth under the
caption “Risk Factors” in MaxLinear’s Quarterly Report on Form 10-Q
for the quarter ended September 30, 2017, which MaxLinear filed
with the SEC on November 7, 2017. All forward-looking statements
are based on the estimates, projections and assumptions of
management as of the date of this press release, and MaxLinear
is under no obligation (and expressly disclaims any such
obligation) to update or revise any forward-looking statements
whether as a result of new information, future events, or
otherwise.
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MaxLinear Inc. Press Contact:The David James Agency LLCDavid
Rodewald, +1 805-494-9508david@davidjamesagency.comorMaxLinear Inc.
Corporate Contact:Will TorgersonVice President of Marketing, +1
760-692-0711wtorgerson@maxlinear.com
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