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Dec 30, 2022
Macom Q1 2023 Earnings Report
MACOM's Q1 2023 financial results were announced, with revenue increasing by 12.8% compared to the previous year and operating income increasing to $38.6 million.
Key Takeaways
MACOM reported a revenue of $180.1 million for Q1 2023, a 12.8% increase year-over-year. The company's operating income was $38.6 million, and net income was $29.5 million, or $0.41 per diluted share.
Revenue increased by 12.8% compared to the previous year fiscal first quarter.
Gross margin was 61.3%, compared to 59.0% in the previous year fiscal first quarter.
Operating income was $38.6 million, or 21.4% of revenue, compared to $27.1 million in the previous year fiscal first quarter.
Net income was $29.5 million, or $0.41 per diluted share, compared to $138.8 million in the previous year fiscal first quarter.
Macom
Macom
Forward Guidance
For the fiscal second quarter ending March 31, 2023, MACOM expects revenue to be in the range of $166 million to $170 million. Adjusted gross margin is expected to be between 61.5% and 63.5%, and adjusted earnings per share is expected to be between $0.76 and $0.80.
Positive Outlook
- Revenue to be in the range of $166 million to $170 million.
- Adjusted gross margin is expected to be between 61.5% and 63.5%.
- Adjusted earnings per share is expected to be between $0.76 and $0.80.
- Anticipated non-GAAP income tax rate of 3%.
- 71.5 million fully diluted shares outstanding.
Challenges Ahead
- Guidance range does not include any revenue contributions or financial impact from pending acquisition of OMMIC SAS.
- Risks related to any weakening of economic conditions
- Dependence on a limited number of customers
- Component shortages or other disruptions in our supply chain
- Inflationary pressures