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МАСОМ . Partners from RF to Light MACOM Reports Fiscal First Quarter 2023 Financial Results LOWELL , MA , February 2 , 2023 – MACOM Technology Solutions Holdings , Inc. ( “ MACOM " ) ( Nasdaq : MTSI ) , a leading supplier of semiconductor products , today announced its financial results for its fiscal first quarter ended December 30 , 2022 . First Quarter Fiscal Year 2023 GAAP Results • • • • Revenue was $ 180.1 million , an increase of 12.8 % , compared to $ 159.6 million in the previous year fiscal first quarter and an increase of 1.1 % compared to $ 178.1 million in the prior fiscal quarter ; Gross margin was 61.3 % , compared to 59.0 % in the previous year fiscal first quarter and 60.9 % in the prior fiscal quarter ; Operating income was $ 38.6 million , or 21.4 % of revenue , compared to operating income of $ 27.1 million , or 17.0 % of revenue , in the previous year fiscal first quarter and operating income of $ 37.0 million , or 20.8 % of revenue , in the prior fiscal quarter ; and Net income was $ 29.5 million , or $ 0.41 per diluted share , compared to net income of $ 138.8 million , or $ 1.95 per diluted share , in the previous year fiscal first quarter and net income of $ 239.3 million , or $ 3.36 per diluted share , in the prior fiscal quarter . Net income for the previous year fiscal first quarter included a $ 118.2 million gain associated with the sale of an equity interest in a private company and net income for the prior fiscal quarter included a $ 202.8 million non - cash income tax benefit associated with the release of the valuation allowance on the majority of our deferred tax assets . First Quarter Fiscal Year 2023 Adjusted Non - GAAP Results • • • Adjusted gross margin was 62.6 % , compared to 61.4 % in the previous year fiscal first quarter and 62.6 % in the prior fiscal quarter ; Adjusted operating income was $ 58.8 million , or 32.7 % of revenue , compared to adjusted operating income of $ 49.0 million , or 30.7 % of revenue , in the previous year fiscal first quarter and adjusted operating income of $ 56.9 million , or 32.0 % of revenue , in the prior fiscal quarter ; and Adjusted net income was $ 58.0 million , or $ 0.81 per diluted share , compared to adjusted net income of $ 45.4 million , or $ 0.64 per diluted share , in the previous year fiscal first quarter and adjusted net income of $ 55.1 million , or $ 0.77 per diluted share , in the prior fiscal quarter . Management Commentary " We are pleased with our Q1 results , ” said Stephen G. Daly , President and Chief Executive Officer . “ We remain focused on executing our long - term strategy to further our position as a leading supplier of high frequency , high power and high data rate semiconductor solutions . "