Business
MACOM Reports Fiscal Third Quarter 2022 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 third quarter ended July 1, 2022.\n\nThird Quarter Fiscal Year 2022 GAAP Results\n\n\nRevenue was $172.3 million, an increase of 12.9%, compared to $152.6 million in the previous year fiscal third quarter and an increase of 4.3% compared to $165.1 million in the prior fiscal quarter;\n\n\nGross margin was 60.7%, compared to 57.2% in the previous year fiscal third quarter and 59.9% in the prior fiscal quarter;\n\n\nOperating income was $36.0 million, compared to operating income of $23.7 million in the previous year fiscal third quarter and operating income of $32.6 million in the prior fiscal quarter; and\n\n\nNet income was $32.2 million, or $0.45 per diluted share, compared to net income of $15.0 million, or $0.21 per diluted share, in the previous year fiscal third quarter and net income of $29.6 million, or $0.42 per diluted share, in the prior fiscal quarter.\n\n\nThird Quarter Fiscal Year 2022 Adjusted Non-GAAP Results\n\n\nAdjusted gross margin was 62.2%, compared to 60.3% in the previous year fiscal third quarter and 61.7% in the prior fiscal quarter;\n\n\nAdjusted operating income was $54.1 million, or 31.4% of revenue, compared to adjusted operating income of $43.9 million, or 28.7% of revenue, in the previous year fiscal third quarter and adjusted operating income of $50.9 million, or 30.8% of revenue, in the prior fiscal quarter; and\n\n\nAdjusted net income was $52.1 million, or $0.73 per diluted share, compared to adjusted net income of $40.3 million, or $0.57 per diluted share, in the previous year fiscal third quarter and adjusted net income of $48.4 million, or $0.68 per diluted share, in the prior fiscal quarter.\n\n\nManagement Commentary\n“We remain focused on designing compelling products to meet our customers’ needs,” said Stephen G. Daly, President and Chief Executive Officer.\n\nBusiness Outlook\nFor the fiscal fourth quarter ending September 30, 2022, MACOM expects revenue to be in the range of $175 million to $180 million. Adjusted gross margin is expected to be between 61.5% and 63.5%, and adjusted earnings per share is expected to be between $0.74 and $0.78 utilizing an anticipated non-GAAP income tax r...