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Mar 31, 2023
Macom Q2 2023 Earnings Report
MACOM's financial performance for Q2 2023 was announced, with revenue increasing slightly year-over-year but decreasing compared to the previous quarter. The company's portfolio expansion strategy remains on track.
Key Takeaways
MACOM reported revenue of $169.4 million for Q2 2023, a 2.6% increase compared to the previous year but a 5.9% decrease from the prior quarter. Net income was $25.8 million, or $0.36 per diluted share, compared to $29.6 million, or $0.42 per diluted share, in the previous year.
Revenue increased by 2.6% year-over-year to $169.4 million.
Gross margin was 60.6%, compared to 59.9% in the previous year.
Net income was $25.8 million, or $0.36 per diluted share.
Adjusted net income was $56.7 million, or $0.79 per diluted share.
Forward Guidance
For the fiscal third quarter ending June 30, 2023, MACOM expects revenue to be in the range of $145 million to $150 million. Adjusted gross margin is expected to be between 59.0% and 61.0%, and adjusted earnings per diluted share is expected to be between $0.52 and $0.56.
Positive Outlook
- Revenue is expected to be between $145 million and $150 million.
- Adjusted gross margin is expected to be between 59.0% and 61.0%.
- Adjusted earnings per diluted share is expected to be between $0.52 and $0.56.
- Anticipated non-GAAP income tax rate of 3%.
- 71.5 million fully diluted shares outstanding.
Challenges Ahead
- Second half will be more challenging.
- Guidance range does not include any revenue contributions or financial impact from pending acquisition of the assets of OMMIC SAS.
- Future acquisition costs are unknown.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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