MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Q2 2022 Results Conference Call April 28, 2022 8:30 AM ET
Company Participants
Steve Ferranti - VP, Strategic Initiatives and IR
Steve Daly - President and CEO
Jack Kober - CFO
Conference Call Participants
Quinn Bolton - Needham & Company
Harsh Kumar - Piper Sandler
Jeremy Kwan - Stifel
Tom O'Malley - Barclays
Vivek Arya - Bank of America
Harlan Sur - JP Morgan
David Williams - Benchmark
C.J. Muse - Evercore
Richard Shannon - Craig-Hallum
Ruben Roy - WestPark Capital
Operator
Welcome to MACOM’s Second Fiscal Quarter 2022 Conference Call. This call is being recorded today, Thursday, April 28, 2022. [Operator Instructions] 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 second fiscal quarter of 2022. 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 review our fiscal Q2 results. When Jack is finished, I will provide revenue and earnings guidance for fiscal Q3, and then we will be happy to take some questions.
Revenue for the second quarter was $165.1 million, and adjusted EPS was $0.68 per diluted share. We continue to improve the quality of our earnings as both gross and operating margins increased sequentially. We also generated strong cash flow, ending the quarter with over $500 million in cash and short-term investments which is a record level.
Our financial performance reflects the numerous improvements that we have made across many aspects of the business. Overall demand for our products continues to increase. Our book-to-bill ratio for the quarter was 1.2:1, representing the sixth consecutive quarter above 1.