In 1985, the industry was introduced to the MAX600, the first proprietary product to win an industry award and start decades of technical innovation. Maxim recorded its first profitable fiscal year in 1987, with the help of a product called MAX232, and posted a profit every year since it went public in 1988. Annual revenue reached $500 million in fiscal year 1998 and in fiscal 2011 totaled over $2.47 billion. In 2005, Maxim became a Fortune 1000 company. Three years later, the company established its Chief Technical Office, and the number of patents rose by 50% over the next two years. In 2010, the company shipped its first analog product on a 300mm wafer.