Macom Posts Q2 Results
Revenue up 6.2 percent on Q1
Macom Technology, supplier of semiconductor products, has announced its financial results for its fiscal second quarter ended April 3, 2020.
“We are focused on the health and safety of our employees, while continuing to deliver on customer commitments and accelerating new product introductions,” said Stephen G. Daly, president and CEO. “Our dedicated employees continue to make steady progress on improving our profitability.
GAAP revenue was $126.4 million, a decrease of 1.6 percent compared to $128.5 million in the previous year fiscal second quarter and an increase of 6.2 percent compared to $119.1 million in the prior fiscal quarter.
Gross margin was 50.1 percent, compared to 44.6 percent in the previous year fiscal second quarter and 48.9 percent in the prior fiscal quarter.
Operating loss was $5.3 million, compared to a loss of $30.2 million in the previous year fiscal second quarter and a loss of $10.5 million in the prior fiscal quarter.
Net loss was $10.2 million, or $0.28 loss per diluted share, compared to net loss of $46.2 million, or $0.71 loss per diluted share, in the previous year fiscal second quarter and net loss of $28.4 million, or $0.43 loss per diluted share, in the prior fiscal quarter.
Business Outlook
For Q3 ending July 3, 2020, Macom expects revenue to be in the range of $129 million to $133 million. Adjusted gross margin is expected to be between 54 percent and 56 percent, and adjusted earnings per share is expected to be between $0.19 and $0.23 on an anticipated 68.5 million fully diluted shares outstanding.
