MACOM posts Q4 revenue of $151.2 million

MACOM reported Q4 revenue of $151.2 million, a decrease of 9.1% compared to $166.4 million in the previous year fiscal fourth quarter and an increase of 9.7% compared to $137.9 million in the prior fiscal quarter.
Gross profit was $71.0 million, a decrease of 18.3% compared to $86.9 million in the previous year fiscal fourth quarter and an increase of 47.4% compared to $48.2 million in the prior fiscal quarter. Gross margin was 46.9%, compared to 52.2% in the previous year fiscal fourth quarter and 34.9% in the prior fiscal quarter.

For fiscal Year 2018, GAAP revenue was $570.4 million, a decrease of 18.4%, compared to $698.8 million in fiscal year 2017. Gross profit was $245.7 million, a decrease of 24.8%, compared to $326.9 million in fiscal year 2017.

"Our fourth quarter results were another step in the right direction toward our target operating model of 60% gross margin, 30% operating margin and 60% free cash flow,” commented John Croteau, President and CEO of MACOM. “Adjusted revenue was up 4% sequentially, adjusted operating margins up 90 basis points and adjusted earnings per share increased 23% over the prior quarter. Looking ahead, we expect the combination of growing revenue contribution from our secular growth drivers and prudent cost management to provide leverage for expanding operating margins and profits over the course of fiscal 2019."