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Jun 30, 2023
Macom Q3 2023 Earnings Report
MACOM's Q3 2023 performance saw a decrease in revenue and income compared to the previous year and prior quarter, but finished in line with expectations.
Key Takeaways
MACOM reported a decrease in revenue to $148.5 million, a gross margin of 58.0%, and net income of $11.9 million, or $0.17 per diluted share, for the fiscal third quarter ended June 30, 2023.
Revenue was $148.5 million, a 13.8% decrease year-over-year.
Gross margin was 58.0%, compared to 60.7% in the previous year fiscal third quarter.
Net income was $11.9 million, or $0.17 per diluted share, compared to $32.2 million, or $0.45 per diluted share, in the previous year fiscal third quarter.
Adjusted non-GAAP EPS was $0.54 per diluted share.
Forward Guidance
For the fiscal fourth quarter ending September 29, 2023, MACOM expects revenue to be in the range of $148 million to $152 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 $0.53 and $0.57.
Positive Outlook
- Revenue to be in the range of $148 million to $152 million.
- Adjusted gross margin is expected to be between 59.0% and 61.0%.
- Adjusted earnings per diluted share is expected to be between $0.53 and $0.57.
- Anticipated non-GAAP income tax rate of 3%.
- 71.5 million fully diluted shares outstanding.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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