Business
MACOM Reports Fiscal Second Quarter 2020 Financial Results
LOWELL, Mass.--(BUSINESS WIRE)-- MACOM Technology Solutions Holdings, Inc. (“MACOM”) (NASDAQ: MTSI), a leading supplier of semiconductor products, today
About this update from Macom Technology Solutions Holdings, Inc.
[{"type":"text","content":" LOWELL, Mass.--(BUSINESS WIRE)--\nMACOM Technology Solutions Holdings, Inc. (“MACOM”) (NASDAQ: MTSI), a leading supplier of semiconductor products, today announced its financial results for its fiscal second quarter ended April 3, 2020.\n\n\nSecond Quarter Fiscal Year 2020 GAAP Results\n\n\n\nRevenue was $126.4 million, a decrease of 1.6% compared to $128.5 million in the previous year fiscal second quarter and an increase of 6.2% compared to $119.1 million in the prior fiscal quarter;\n\n\nGross margin was 50.1%, compared to 44.6% in the previous year fiscal second quarter and 48.9% in the prior fiscal quarter;\n\n\nOperating loss was $5.3 million, compared to a loss of $30.2 million in the previous year fiscal second quarter and a loss of $10.5 million in the prior fiscal quarter; and\n\n\nNet loss was $10.2 million, or $0.28 loss per diluted share, compared to net loss of $46.2 million, or $0.71 loss per diluted share, in the previous year fiscal second quarter and net loss of $28.4 million, or $0.43 loss per diluted share, in the prior fiscal quarter.\n\n\n\nSecond Quarter Fiscal Year 2020 Adjusted Non-GAAP Results\n\n\n\nAdjusted gross margin was 54.5%, compared to 51.5% in the previous year fiscal second quarter and 53.5% in the prior fiscal quarter;\n\n\nAdjusted operating income was $19.6 million, or 15.5% of revenue, compared to adjusted operating income of $2.8 million, or 2.2% of revenue, in the previous year fiscal second quarter and adjusted operating income of $13.0 million, or 10.9% of revenue, in the prior fiscal quarter; and\n\n\nAdjusted net income was $11.9 million, or $0.17 per diluted share, compared to adjusted net loss of $4.6 million, or $0.07 loss per diluted share, in the previous year fiscal second quarter and adjusted net income of $4.9 million, or $0.07 per diluted share, in the prior fiscal quarter.\n\n\n\nManagement Commentary\n\n\n“We are focused on the health and safety of our employees, while continuing to deliver on customer commitments and accelerating new product introductions,” said Stephen G. Daly, President and Chief Executive Officer. “Our dedicated employees continue to make steady progress on improving our profitability.”\n\n\nBusiness Outlook\n\n\nFor the fiscal third quarter ending July 3, 2020, MACOM expects revenue to be in the range of $129 million to $133 million. Adjusted gross ...