MACOM announced its financial results for the fiscal third quarter ending June 28, 2024. The company reported strong growth, driven by its portfolio expansion strategy, which continues to create new business opportunities across Industrial, Defense, Telecom, and Data Center sectors.
Revenue for the third quarter reached $190.5 million, a significant increase of 28.3% compared to the previous year’s third quarter and a 5.1% rise from the prior fiscal quarter. Despite a slight decrease in gross margin to 53.2%, income from operations improved to $19.7 million. Net income also saw a notable rise to $19.9 million, or $0.27 per diluted share.
• Revenue: $190.5 million, up 28.3% year-over-year
• Gross Margin: 53.2%, down from 58.0% year-over-year
• Income from Operations: $19.7 million, or 10.4% of revenue
• Net Income: $19.9 million, or $0.27 per diluted share
• Adjusted Gross Margin: 57.5%
• Adjusted Income from Operations: $45.6 million, or 24.0% of revenue
• Adjusted Net Income: $48.9 million, or $0.66 per diluted share
Looking ahead, MACOM expects fourth-quarter revenue to be between $197 million and $203 million, with an adjusted gross margin of 57% to 59%. Adjusted earnings per diluted share are anticipated to be between $0.70 and $0.76, reflecting the company’s continued focus on financial performance and execution.
