MACOM Technology Solutions Holdings Inc (NASDAQ: MTSI) shares fell following Q4 results. MACOM Technology posted quarterly adjusted earnings of $0.46 per diluted share on revenue of $166.4 million.
Said CEO John Croteau, “As expected, fiscal Q4 was a very challenging quarter, as we navigated through a hard pause in network infrastructure demand in China, impacting our entire range of Networks businesses.
"(The) Networks (portion of the business) was down 25% sequentially, though it still grew 3% year on year. Somewhat offsetting the decline in Networks, we had a very strong quarter in our A&D and multi-market businesses, which grew 32% and 16% year-over-year, respectively.
"In the December quarter, we expect Networks demand to remain soft, and the A&D and Multi-market businesses to return to more normalized levels,” Croteau continued. “We expect the December quarter will be the bottom of the down-cycle in network infrastructure, which appears to be on the verge of turning.”
For the fiscal first quarter ending December 29, MACOM expects revenue to be in the range of $130 million to $136 million. Adjusted gross margin is expected to be between 55% and 58%, and adjusted earnings per share between $0.10 and $0.16, on an anticipated 66.5 million fully diluted shares outstanding.
MACOM says its goal is to enable "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."
Shares in the Lowell, Mass.-based company limped into Wednesday’s close down $6.58, or nearly 18%, to $30.03.
