SAN JOSE, Calif. (AP) _ Maxim Integrated Products Inc. (MXIM) on Tuesday reported fiscal third-quarter profit of $161.2 million.

The San Jose, California-based company said it had net income of 59 cents per share. Earnings, adjusted for non-recurring costs, were 61 cents per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The chipmaker posted revenue of $561.9 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $558.3 million.

For the current quarter ending in June, Maxim expects its per-share earnings to range from 43 cents to 57 cents.

The company said it expects revenue in the range of $480 million to $540 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $556.3 million.

Maxim shares have decreased 11% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $55, a decrease of roughly 8% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MXIM at https://www.zacks.com/ap/MXIM

Automated Insights, source Associated Press News