MACOM Technology Solutions (MTSI) Tops Q1 EPS by 4c; Offers 2Q EPS/Revenue Guidance Above Consensus

MACOM Technology Solutions (NASDAQ: MTSI) reported Q1 EPS of $0.46, $0.04 better than the analyst estimate of $0.42. Revenue for the quarter came in at $148.5 million versus the consensus estimate of $148.02 million.

First Quarter Fiscal Year 2021 GAAP Results

• Revenue was $148.5 million, an increase of 24.7%, compared to $119.1 million in the previous year fiscal first quarter and an increase of 0.9% compared to $147.2 million in the prior fiscal quarter;
• Gross margin was 54.0%, compared to 48.9% in the previous year fiscal first quarter and 52.8% in the prior fiscal quarter;
• Operating income was $12.1 million, compared to a loss of $10.5 million in the previous year fiscal first quarter and income of $12.7 million in the prior fiscal quarter; and
• Net loss was $9.0 million, or $0.13 loss per diluted share, compared to net loss of $28.4 million, or $0.43 loss per diluted share, in the previous year fiscal first quarter and net income of $17.5 million, or $0.22 per diluted share, in the prior fiscal quarter.

Management Commentary

“Q1 was a good start to our fiscal year,” said Stephen G. Daly, President and Chief Executive Officer. “More importantly, our high-performance product portfolio continues to get stronger and more competitive.”

GUIDANCE:

MACOM Technology Solutions sees Q2 2021 EPS of $0.46-$0.50, versus the consensus of $0.38. MACOM Technology Solutions sees Q2 2021 revenue of $148-152 million, versus the consensus of $145.33 million.

For earnings history and earnings-related data on MACOM Technology Solutions (MTSI) click here.

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