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Free Research Report as MACOM Technology Solutions Reported Better Than Expected Results

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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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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, MACOM Technology Solutions Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


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.

Cash Matters

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.

Business Outlook

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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