Stock Monitor: Kopin Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 30, 2018 / If you want access to our free earnings report on MACOM Technology Solutions Holdings, Inc. (NASDAQ: MTSI) ("MACOM"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MTSI. MACOM reported its second quarter fiscal 2018 operating and financial results on May 01, 2018. The leading supplier of high-performance RF, microwave, millimeterwave and lightwave semiconductor products provided guidance for the upcoming quarter. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For its fiscal second quarter ended March 30, 2018, MACOM's revenue was $150.4 million, reflecting a decrease of 19.2% compared to $186.1 million in Q2 FY17. The Company's reported numbers beat analysts' estimates by $4.89 million.
During Q2 FY18, MACOM's gross profit was $65.6 million, down 4.7% compared to $68.9 million in Q2 FY17. The Company's reported quarter gross margin was 43.6% compared to 37.0% in the previous year's same quarter. MACOM's adjusted gross margin was 51.6% in Q2 FY18 compared to 58.5% in Q2 FY17.
For Q2 FY18, MACOM's operating loss was $23.4 million compared to operating loss of $33.6 million in Q2 FY17. The Company's adjusted operating income was $15.7 million, or 10.5% of revenue, compared to $48.6 million, or 26.1% of revenue, in the year earlier comparable quarter.
MACOM's net loss from continuing operations was $15.5 million, or $0.50 loss per diluted share, in Q2 FY18 compared to net loss from continuing operations of $134.3 million, or $2.21 loss per diluted share, in Q2 FY17.
For Q2 FY18, MACOM's adjusted net income was $8.5 million, or $0.13 per diluted share, compared to $39.4 million, or $0.63 per diluted share, in Q2 FY17. The Company's earnings surpassed Wall Street's estimates of $0.14 per share.
At the end of Q2 FY18, MACOM's cash and cash equivalents were $162.70 million compared to $130.10 million as on September 29, 2017. The Company's accounts receivables were $107 million, up from $97 million on a q-o-q basis. MACOM's days sales outstanding were 65 days in Q2 FY18, down from 68 days in Q1 FY18. The Company's inventories were $144 million, up 1% from $143 million in the prior year's same quarter, while inventory turns were 2x compared to 1.7x sequentially.
As on March 30, 2018, MACOM's long-term debt was $684 million, inclusive of capital leases. The Company also had $160 million of availability in undrawn credit line. MACOM's capital expenditures were $13 million, or 9% of revenue, in Q2 FY18 compared to $14 million, or 11% of revenue, in Q1 FY18.
For the fiscal third quarter ending June 29, 2018, MACOM is forecasting revenue to be in the range of $142 million to $150 million. The Company is expecting adjusted gross margin is to be between 54% and 57%, and adjusted earnings in the band of $0.09 and $0.15 per share.
Stock Performance Snapshot
May 29, 2018 - At Tuesday's closing bell, MACOM Technology Solutions' stock marginally dropped 0.22%, ending the trading session at $22.48.
Volume traded for the day: 569.83 thousand shares.
Stock performance in the last month – up 32.16%; and previous three-month period – up 3.59%
After yesterday's close, MACOM Technology Solutions' market cap was at $1.42 billion.
The stock is part of the Technology sector, categorized under the Semiconductor - Broad Line industry.
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