Maxim Integrated Products Inc. reported unaudited consolidated earnings results for the second quarter ended December 31, 2011. For the quarter, the company reported net revenue of $591 million, a 7% decrease from the record $636 million revenue recorded in the prior quarter. Operating income taxes was $114.51 million against $151.99 million for the same period a year ago. Income before provision for income taxes was $116.88 million against $147.9 million for the same period a year ago. Net income was $88.13 million or $0.29 per diluted share against $109.59 million or $0.36 per diluted share for the same period a year ago. Net cash provided by operating activities was $249.32 million against $199.98 million for the same period a year ago. Payments for property, plant and equipment was $68.36 million against $59.07 million for the same period a year ago. GAAP operating income excluding special items was $135 million or 23% of revenue. GAAP earnings per share excluding special items were $0.34 down from $0.46 in first quarter due to lower revenue and gross margin. For the third quarter, the company expects revenue of $555 million to $585 million; gross margin of 55% to 58% GAAP (57% to 60% excluding special expense items); and EPS of $0.22 to $0.26 GAAP ($0.25 to $0.29 excluding special expense items). Tax rate excluding special items is estimated from 26% to 28%. The company expects GAAP earnings per share excluding special items, a range of $0.25 to $0.29. Capital expenditures are expected to be flat to down over second quarter, but still reflect investments and manufacturing capacity expansions, and new headquarters in Dallas facilities. The company expects fiscal 2012 CapEx to be above its business model of 5% to 7% of revenue. The company expects fiscal 2013 CapEx to return to its business model. The company announced cash dividend of $0.22 per share will be paid on March 7, 2012, to stockholders of record on February 22, 2012.