MACOM Reports Fourth Quarter and Fiscal Year 2016 Financial Results

 

MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited and in thousands)

 
    Fiscal Year Ended
September 30,     October 2,
2016 2015
 
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 1,434 $ 48,589
Adjustments to reconcile loss to net operating cash 118,813 109,045
Gain on sale of business (63,256 )
Change in operating assets and liabilities (41,015 ) (60,700 )
Net cash from operating activities 79,232   33,678  
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net (85,517 ) (208,352 )
Purchases, sales and maturities of investments 15,257 (40,183 )
Proceeds from discontinued operations 7,500
Sale of businesses 81,208
Strategic investments 1,500
Purchases of property and equipment (31,326 ) (38,252 )
Acquisition of intellectual property (777 ) (3,346 )
Net cash used in investing activities (94,863 ) (207,425 )
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable 247,625
Payments of notes payable and assumed debt (14,076 ) (5,004 )
Proceeds from stock offering 127,761
Proceeds from stock option exercises and employee stock purchases 5,460 5,450
Repurchase of common stock (9,995 ) (8,626 )
Borrowings on revolving facility 100,000
Payments on revolving facility (100,000 )
Other financing activities (1,660 ) 2,826  
Net cash from financing activities 227,354   122,407  
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (1,058 ) (243 )
NET CHANGE IN CASH AND CASH EQUIVALENTS 210,665 (51,583 )
CASH AND CASH EQUIVALENTS — Beginning of period 122,312   173,895  
CASH AND CASH EQUIVALENTS — End of period $ 332,977   $ 122,312  



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