Q3 2024 MACOM Technology Solutions Holdings Inc Earnings Call Transcript
Key Points
- Revenue for the third quarter of fiscal 2024 was $190.5 million, up 5.1% sequentially.
- Adjusted EPS was $0.66 per diluted share, indicating strong profitability.
- Generated over $40 million of free cash flow during the quarter.
- Ended the quarter with approximately $521 million in cash and short-term investments.
- Book-to-bill ratio was 1.1 times, indicating strong future revenue potential.
- Telecom market remains weak with no signs of a broad recovery.
- Inventory turns were down sequentially from 1.8 times to 1.7 times.
- Total operating expenses increased by $600,000 sequentially.
- Adjusted income tax rate is expected to remain at 3% through fiscal year 2025, indicating a consistent tax burden.
- Data center market, while showing growth, is noted for its potential volatility.
Welcome to MACOM's third fiscal quarter 2024 conference call. This call is being recorded today, Thursday, August 1, 2024. (Operator Instructions)
I will now turn the call over to Mr. Stephen Ferranti, Vice President of Corporate Development and Investor Relations. Mr. Ferranti, please.
Thank you, Olivia. Good morning and welcome to our call to discuss MACOM's financial results for the third fiscal quarter of 2024. I would like to remind everyone that our discussion today will contain forward-looking statements which are subject to certain risks and uncertainties as defined in the Safe Harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those discussed today. For a more detailed discussion of the risks and uncertainties that could result in those differences, we refer you to MACOM's filings with the SEC.
Management's statements during this call will also
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