Business
MACOM Reports Fiscal Second Quarter 2023 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 March 31, 2023.\n\n\nSecond Quarter Fiscal Year 2023 GAAP Results\n\n\n\nRevenue was $169.4 million, an increase of 2.6%, compared to $165.1 million in the previous year fiscal second quarter and a decrease of 5.9% compared to $180.1 million in the prior fiscal quarter;\n\n\n\nGross margin was 60.6%, compared to 59.9% in the previous year fiscal second quarter and 61.3% in the prior fiscal quarter;\n\n\n\nIncome from operations was $35.9 million, or 21.2% of revenue, compared to income from operations of $32.6 million, or 19.7% of revenue, in the previous year fiscal second quarter and income from operations of $38.6 million, or 21.4% of revenue, in the prior fiscal quarter; and\n\n\n\nNet income was $25.8 million, or $0.36 per diluted share, compared to net income of $29.6 million, or $0.42 per diluted share, in the previous year fiscal second quarter and net income of $29.5 million, or $0.41 per diluted share, in the prior fiscal quarter.\n\n\n\nSecond Quarter Fiscal Year 2023 Adjusted Non-GAAP Results\n\n\n\nAdjusted gross margin was 62.1%, compared to 61.7% in the previous year fiscal second quarter and 62.6% in the prior fiscal quarter;\n\n\n\nAdjusted income from operations was $56.6 million, or 33.4% of revenue, compared to adjusted income from operations of $50.9 million, or 30.8% of revenue, in the previous year fiscal second quarter and adjusted income from operations of $58.8 million, or 32.7% of revenue, in the prior fiscal quarter; and\n\n\n\nAdjusted net income was $56.7 million, or $0.79 per diluted share, compared to adjusted net income of $48.4 million, or $0.68 per diluted share, in the previous year fiscal second quarter and adjusted net income of $58.0 million, or $0.81 per diluted share, in the prior fiscal quarter.\n\n\n\nManagement Commentary\n\n\n“While we were generally pleased with our first half results, we expect that the second half will be more challenging,” said Stephen G. Daly, President and Chief Executive Officer. “However, our portfolio expansion strategy remains on track, which we believe will enable us to address new opportunities and support long-term growth.”\n\n\nBusines...