Mr. Croteau concluded, “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.”
Business Outlook
For the fiscal first quarter ending December 28, 2018, MACOM expects adjusted revenue to be in the range of $150 million to $156 million. Adjusted gross margin is expected to be between 55% and 57%, and adjusted earnings per share between $0.18 and $0.22 on an anticipated 66.5 million fully diluted shares outstanding.
Conference Call
MACOM will host a conference call on Tuesday, November 13, 2018 at 5:00 p.m. Eastern Time to discuss its fiscal fourth quarter and fiscal year 2018 financial results and business outlook. Investors and analysts may join the conference call by dialing 1-877-837-3908 and providing the passcode 5387519.
International callers may join the teleconference by dialing +1-973-872-3000 and entering the same passcode at the prompt. A telephone replay of the call will be made available beginning two hours after the call and will remain available for five business days. The replay number is 1-855-859-2056 with a passcode of 5387519. International callers should dial +1-404-537-3406 and enter the same passcode at the prompt.
Additionally, this conference call will be broadcast live over the Internet and can be accessed by all interested parties in the Investors section of MACOM's website at http://www.macom.com. To listen to the live call, please go to the Investors section of MACOM's website and click on the conference call link at least fifteen minutes prior to the start of the conference call. For those unable to participate during the live broadcast, a replay will be available shortly after the call and will remain available for approximately 30 days.
About MACOM
MACOM enables a better-connected and safer world by delivering breakthrough semiconductor technologies for optical, wireless and satellite networks that satisfy society’s insatiable demand for information.
Today, MACOM powers the infrastructure that millions of lives and livelihoods depend on every minute to communicate, transact business, travel, stay informed and be entertained. Our technology increases the speed and coverage of the mobile Internet and enables fiber optic networks to carry previously unimaginable volumes of traffic to businesses, homes and datacenters.
Keeping us all safe, MACOM technology enables next-generation radars for air traffic control and weather forecasting, as well as mission success on the modern networked battlefield.
MACOM is the partner of choice to the world’s leading communications infrastructure, aerospace and defense companies, helping solve their most complex challenges in areas including network capacity, signal coverage, energy efficiency and field reliability, through its best-in-class team and broad portfolio of RF, microwave, millimeterwave and lightwave semiconductor products.
MACOM is a pillar of the semiconductor industry, thriving for more than 60 years of daring to change the world for the better, through bold technological strokes that deliver true competitive advantage to customers and superior value to investors.
Headquartered in Lowell, Massachusetts, MACOM is certified to the ISO9001 international quality standard and ISO14001 environmental management standard. MACOM has design centers and sales offices throughout North America, Europe and Asia.
MACOM, M/A-COM, M/A-COM Technology Solutions, M/A-COM Tech, Partners in RF & Microwave and related logos are trademarks of MACOM. All other trademarks are the property of their respective owners. For more information about MACOM, please visit www.macom.com follow @MACOMtweets on Twitter, join MACOM on LinkedIn and Facebook or visit the MACOM YouTube Channel.
Special Note Regarding Forward-Looking Statements
This press release and our commentary in our conference call held today
each contain forward-looking statements based on MACOM management's
beliefs and assumptions and on information currently available to our
management. Forward-looking statements include, among others,
information concerning our stated business outlook and future results of
operations, our expectations for business and market conditions,
positioning and growth aspirations in the Industrial & Defense,
Datacenter, Telecom, Cloud Data Center, 5G Telecom and China markets and
elsewhere, our expectations for the launch and success of our Data
Center solutions business model, our anticipated controlled ramp and
efforts to scale our 25G lasers into high volume production, our
expectations regarding a customer's consumption of our Data Center
semiconductor components, statements regarding market and geographic
cycles and downturns for MACOM in terms of revenue and demand, our
anticipated ability to navigate international trade tensions, our
commitment to invest in our portfolio of disruptive technologies, our
beliefs regarding our ability to meet industry demand, continued strong
investment by Cloud Service Providers, and now, a surge in Defense
spending and Industrial capital investment, our expectations regarding
our ability to capitalize on the next phase of infrastructure spending,
our expectation that sales across all our end markets will contribute to
top line growth quarter-by-quarter throughout fiscal 2019 and our
ability to scale operationally, both with our strategic suppliers and in
our own factories, our belief that the future contribution from these
sales can provide significant operating leverage as we monetize what
were previously strategic investments for the company, with improved
gross margins for MACOM, any expectations as to our relationships with
customers and vendors, our future market share, the timing or nature of
future Cloud Data Center and network upgrade cycles, customer order
activity and customer adoption of our solutions, our future investment
decisions, our GaN strategy and expectations for execution on that
strategy, the expected impact of the settlement of our litigation
against Infineon and any other statements regarding future trends,
business strategies, competitive position, industry conditions,
acquisitions and market opportunities. Forward-looking statements
include all statements that are not historical facts and generally may
be identified by terms such as "anticipates," "believes," "could,"
"estimates," "expects," "intends," "may," "plans," "potential,"
"predicts," "projects," "seeks," "should," "will," "would" or similar
expressions and the negatives of those terms.
