M/A-Com Technology Solutions Holdings
The 10-second takeaway
For the quarter ended March 29 (Q2), M/A-Com Technology Solutions Holdings met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. Non-GAAP earnings per share shrank. GAAP earnings per share expanded.
Gross margins shrank, operating margins dropped, net margins expanded.
M/A-Com Technology Solutions Holdings logged revenue of $77.8 million. The eight analysts polled by S&P Capital IQ looked for revenue of $77.6 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.24. The eight earnings estimates compiled by S&P Capital IQ predicted $0.22 per share. Non-GAAP EPS of $0.24 for Q2 were 14% lower than the prior-year quarter's $0.28 per share. GAAP EPS were $0.17 for Q2 against -$8.02 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 43.5%, 370 basis points worse than the prior-year quarter. Operating margin was 16.0%, 560 basis points worse than the prior-year quarter. Net margin was 10.4%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $80.3 million. On the bottom line, the average EPS estimate is $0.23.
Next year's average estimate for revenue is $316.6 million. The average EPS estimate is $0.92.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on M/A-Com Technology Solutions Holdings is outperform, with an average price target of $19.19.
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