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Maxim Integrated posts higher quarterly net income, revenues

Maxim Integrated Products Inc. posted fiscal fourth-quarter net income of $194.2 million, or 68 cents per share, up from $163.3 million, or 57 cents per share, in the prior-year quarter.

Net revenues for the fourth quarter of 2018 were $633.2 million, up from $602.0 million last year.

Operating income for the quarter came in at $222.4 million, increasing from $199.4 million year over year.

For the full fiscal year, net income fell to $467.3 million, or $1.64 per share, from $571.6 million, or $1.98 per share.

Net revenues for the full fiscal year 2018 were $2.48 billion, higher than the $2.30 billion posted in fiscal year 2017.

The integrated circuits maker expects EPS of between 67 cents and 73 cents for the first quarter of fiscal 2019. Revenues are projected to be between $615 million and $655 million.

The company also raised its quarterly dividend by 10% to 46 cents per share. The record date for the dividend will be Aug. 30 and it will be paid out Sept. 13.