- For Fiscal Year 2016
- Record Non-GAAP net sales of $2.214 billion.
- Record GAAP net sales of $2.173 billion.
- On a non-GAAP basis: gross margins of 58.1%; operating income of $685.4 million; net income of $583.3 million and record EPS of $2.68 per diluted share.
- On a GAAP basis: gross margins of 55.5%; operating income of $352.3 million; net income of $324.1 million; and EPS of $1.49 per diluted share. There was no First Call published estimate for GAAP EPS.
- For the quarter ended March 31, 2016
- Record Non-GAAP net sales of $568.4 million.
- GAAP net sales of $557.6 million.
- On a non-GAAP basis: gross margins of 58.4%; record operating income of $178.4 million; record net income of $153.0 million and record EPS of 70 cents per diluted share. The midpoint of our original guidance provided on February 3, 2016 was EPS of 67 cents.
- On a GAAP basis: gross margins of 54.3%; operating income of $79.9 million; net income of $67.4 million; and EPS of 31 cents per diluted share. There was no First Call published estimate for GAAP EPS.
- Record quarterly dividend declared of 35.95 cents per share.
- Completed acquisition of Atmel Corporation on April 4, 2016.
(NASDAQ: MCHP) - Microchip Technology Incorporated, a leading provider of microcontroller, mixed signal, analog and Flash-IP solutions, today reported results for the three months and year ended March 31, 2016 as summarized in the following table:
|
(in millions, except earnings per
|
Three Months Ended March 31, 2016 |
Year Ended March 31, 2016 | ||||||
|
|
GAAP |
% of Net
|
Non- GAAP1 |
% of Net
|
GAAP |
% of Net
|
Non- GAAP1 |
% of Net
|
|
Net Sales |
$557.6 |
|
$568.4 |
|
$2,173.3 |
|
$2,213.8 |
|
|
Gross Margin |
$302.8 |
54.3% |
$331.9 |
58.4% |
$1,205.5 |
55.5% |
$1,286.8 |
58.1% |
|
Operating Income |
$79.9 |
14.3% |
$178.4 |
31.4% |
$352.3 |
16.2% |
$685.4 |
31.0% |
|
Other Expense |
$(22.3) |
|
$(6.4) |
|
$(71.1) |
|
$(29.7) |
|
|
Income Tax (Benefit) Provision |
$(9.7) |
|
$19.0 |
|
$(42.6) |
|
$72.2 |
|
|
Net Income |
$67.4 |
12.1% |
$153.0 |
26.9% |
$324.1 |
14.9% |
$583.3 |
26.3% |
|
Earnings per Diluted Share |
31 Cents |
|
70 Cents |
|
$1.49 |
|
$2.68 |
|
|
1 |
See the "Use of Non-GAAP Financial Measures" section of this release. |
