- Net sales of $482.4 million, down 2.1% sequentially and up 15.9% from net sales in the year ago quarter.
- On a non-GAAP basis: gross margins of 59.0%; operating income of $153.8 million; net income of $132.9 million; and EPS of 61 cents per diluted share. The First Call published estimate for non-GAAP diluted EPS was 60 cents.
- On a GAAP basis: gross margins of 58.6%; operating income of $116.9 million; net income of $105.4 million; and EPS of 48 cents per diluted share. There was no published First Call estimate for GAAP EPS.
- Record net sales of analog products of $108.9 million.
CHANDLER, Ariz. — (BUSINESS WIRE) — January 30, 2014 — Microchip Technology Incorporated (NASDAQ: MCHP), a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, today reported results for the three months ended December 31, 2013 as summarized in the following table:
| (in millions, except earnings per diluted share and percentages) | Three Months Ended December 31, 2013 | |||||||||||
| GAAP1 |
% of Net
|
Non-
|
% of Net
|
|||||||||
| Net Sales | $482.4 | $482.4 | ||||||||||
| Gross Margin | $282.7 | 58.6% | $284.6 | 59.0% | ||||||||
| Operating Income | $116.9 | 24.2% | $153.8 | 31.9% | ||||||||
|
Other Expense (including Gains/Losses on Equity Method Investments) |
$4.3 | $4.5 | ||||||||||
| Income Tax Expense | $7.2 | $16.4 | ||||||||||
| Net Income | $105.4 | 21.9% | $132.9 | 27.5% | ||||||||
| Earnings per Diluted Share | 48 cents | 61 cents | ||||||||||
|
1 See the “Use of Non-GAAP Financial Measures” section of this release. |
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