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Macom Increases Revenue, Income And Profit Margin

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“We remain focused on designing compelling products to meet our customers’ needs,” said Stephen G. Daly, president and CEO

Macom Technology has announced its financial results for its Q3 ended July 1, 2022.

Revenue was $172.3 million, an increase of 12.9 percent, compared to $152.6 million in the previous year Q3 and an increase of 4.3 percent compared to $165.1 million in the prior fiscal quarter.

Gross margin was 60.7 percent, compared to 57.2 percent in the previous year Q3 and 59.9 percent in the prior fiscal quarter;

Operating income was $36.0 million, compared to operating income of $23.7 million in the previous year Q3 and operating income of $32.6 million in the prior fiscal quarter.

Net income was $32.2 million, or $0.45 per diluted share, compared to net income of $15.0 million, or $0.21 per diluted share, in the previous year Q3 and net income of $29.6 million, or $0.42 per diluted share, in the prior fiscal quarter.

Adjusted Non-GAAP Results

Adjusted gross margin was 62.2 percent, compared to 60.3 percent in the previous year Q3 and 61.7 percent in the prior fiscal quarter.

Adjusted operating income was $54.1 million, or 31.4 percent of revenue, compared to adjusted operating income of $43.9 million, or 28.7 percent of revenue, in the previous year Q3 and adjusted operating income of $50.9 million, or 30.8 percent of revenue, in the prior fiscal quarter.

Adjusted net income was $52.1 million, or $0.73 per diluted share, compared to adjusted net income of $40.3 million, or $0.57 per diluted share, in the previous year Q3 and adjusted net income of $48.4 million, or $0.68 per diluted share, in the prior fiscal quarter.

“We remain focused on designing compelling products to meet our customers' needs,” said Stephen G. Daly, president and CEO.

Outlook

For the fiscal fourth quarter ending September 30, 2022, Macom expects revenue to be in the range of $175 million to $180 million. Adjusted gross margin is expected to be between 61.5 percent and 63.5 percent, and adjusted earnings per share is expected to be between $0.74 and $0.78 utilizing an anticipated non-GAAP income tax rate of 3 percent and 71.4 million fully diluted shares outstanding.

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