Macom Reports postive Q4 and year
Revenue for the year up 14.5 percent
Macom has announced its financial results for its fiscal fourth quarter and fiscal year ended October 1, 2021.
Revenue was $155.2 million, an increase of 5.4 percent compared to $147.2 million in the previous year Q4 and an increase of 1.7 percent compared to $152.6 million in Q3 2021; gross margin was 58.1 percent, compared to 52.8 percent in the previous year Q4 and 57.2 percent in Q3 2021.
Operating income was $26.3 million, compared to operating income of $12.7 million in the previous year Q4 and operating income of $23.7 million in Q3 2021.
Net income was $17.1 million, or $0.24 per diluted share, compared to net income of $17.5 million, or $0.22 per diluted share, in the previous year Q4 and net income of $15.0 million, or $0.21 per diluted share, in Q3 2021
Fiscal Year 2021 GAAP Results
Revenue was $606.9 million, an increase of 14.5 percent, compared to $530.0 million in fiscal year 2020; gross margin was 56.3 percent, compared to 51.0 percent in fiscal year 2020; operating income was $81.0 million, compared to $3.4 million in fiscal year 2020; and net income was $38.0 million, or $0.54 per diluted share, compared to a net loss of $46.1 million, or $0.69 loss per diluted share in fiscal year 2020.
Management Commentary
“We remain focused on growth and profitability as we enter our next fiscal year,” said Stephen G. Daly, president and CEO.
Business Outlook
For the fiscal first quarter ending December 31, 2021, Macom expects revenue to be in the range of $157 million to $161 million. Adjusted gross margin is expected to be between 60.0 percent and 62.0 percent, and adjusted earnings per share is expected to be between $0.60 and $0.64 on an anticipated 71.4 million fully diluted shares outstanding.
