MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Q1 2023 Earnings Conference Call February 2, 2023 8:30 AM ET
Company Participants
Steve Ferranti – Vice President-Strategic Initiatives and Investor Relations
Steve Daly – President and Chief Executive Officer
Jack Kober – Chief Financial Officer
Conference Call Participants
Quinn Bolton – Needham
Tom O’Malley – Barclays
Blake Friedman – Bank of America
Harsh Kumar – Piper Sandler
David Williams – Benchmark
Tore Svanberg – Stifel
Sean O’Loughlin – Cowen
C.J. Muse – Evercore ISI
Richard Shannon – Craig-Hallum
Operator
Welcome to MACOM’s First Fiscal Quarter 2023 Conference Call. This call is being recorded today, Thursday, February 2, 2023. At this time, all participants are in a listen-only mode.
I will now turn the call to Mr. Steve Ferranti, MACOM’s Vice President of Strategic Initiatives and Investor Relations. Mr. Ferranti, please go ahead.
Steve Ferranti
Thank you, Olivia. Good morning, and welcome to our call to discuss MACOM’s financial results for the first fiscal quarter of 2023. 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 include discussion of certain adjusted non-GAAP financial information. A reconciliation of GAAP to adjusted non-GAAP results are provided in the company’s press release and related Form 8-K, which was filed with the SEC today.
With that, I’ll turn over the call to Steve Daly, President and CEO of MACOM.
Steve Daly
Thank you, and good morning. I will begin today’s call with a general company update. After that, Jack Kober, our Chief Financial Officer will provide a more in-depth review of our financial results for the first quarter of fiscal 2023. When Jack is finished, I will provide revenue and earnings guidance for our second fiscal quarter, and then we will be happy to take some questions.
Revenue for our first fiscal quarter of 2023 was $180.1 million and adjusted EPS was $0.81 per diluted share. Our financial performance translated to strong cash flow from operations of $38 million, and we ended the quarter with $595 million in cash and short-term investments on our balance sheet.