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Sep 29, 2023
Macom Q4 2023 Earnings Report
MACOM's financial performance decreased compared to the previous year, with revenue and income from operations declining, but increased slightly compared to the prior quarter.
Key Takeaways
MACOM Technology Solutions Holdings, Inc. reported its fiscal fourth quarter and fiscal year 2023 financial results. The company's Q4 revenue was $150.4 million, a 15.6% decrease compared to the previous year's Q4. Net income for the quarter was $24.5 million, or $0.34 per diluted share.
Q4 revenue was $150.4 million, a decrease of 15.6% year-over-year.
Gross margin was 57.6%, compared to 60.9% in the previous year fiscal fourth quarter.
Net income was $24.5 million, or $0.34 per diluted share, compared to $239.3 million, or $3.36 per diluted share, in the previous year fiscal fourth quarter.
Adjusted net income was $40.1 million, or $0.56 per diluted share, compared to $55.1 million, or $0.77 per diluted share, in the previous year fiscal fourth quarter.
Forward Guidance
For the fiscal first quarter ending December 29, 2023, MACOM expects revenue to be in the range of $149 million to $153 million.
Positive Outlook
- Adjusted gross margin is expected to be between 59% and 61%.
- Adjusted earnings per diluted share is expected to be between $0.55 and $0.59.
- Anticipated non-GAAP income tax rate of 3%.
- 72.2 million fully diluted shares outstanding.
- Focusing on highest frequency applications will strengthen market position
Challenges Ahead
- Revenue expected to be between $149 million and $153 million, indicating potential stagnation.
- Adjusted earnings per diluted share expected to be between $0.55 and $0.59, reflecting potential earnings challenges.
- Economic downturn or recession.
- Component shortages or other disruptions in our supply chain.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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