SAN JOSE, Calif. (AP) _ Maxim Integrated Products Inc. (MXIM) on Tuesday reported fiscal fourth-quarter profit of $253.7 million.

On a per-share basis, the San Jose, California-based company said it had profit of 93 cents. Earnings, adjusted for one-time gains and costs, came to 91 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The chipmaker posted revenue of $719.9 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $687.7 million.

For the year, the company reported profit of $827.3 million, or $3.05 per share. Revenue was reported as $2.63 billion.

Maxim shares have increased 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $96.81, an increase of 40% 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

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