- Net sales of $2.254 billion , down 1.5% sequentially and up 8.7% from the year ago quarter. The midpoint of our guidance provided on August 3, 2023 was net sales of $ 2.266 billion.
- On a GAAP basis: gross profit of 67.8% ; operating income of $885.0 million and 39.3% of net sales; record net income of $666.6 million ; and record EPS of $1.21 per diluted share. Our guidance provided on August 3, 2023 was for GAAP EPS of $ 1.18 to $ 1.21 per diluted share.
- On a Non-GAAP basis: gross profit of 68.1% ; operating income of $1.085 billion and 48.1% of net sales; net income of $889.3 million and EPS of $1.62 per diluted share. Our guidance provided on August 3, 2023 was for Non-GAAP EPS of $ 1.60 to $ 1.64 per diluted share.
- Returned approximately $562.5 million to shareholders in the September quarter through dividends of $222.7 million and the repurchase of approximately $339.8 million , or 4.2 million shares of our common stock, at an average price of $80.78 per share under our previously announced $4.0 billion stock buyback program. Cumulatively repurchased approximately $1.852 billion , or 24.5 million shares, over the last eight quarters.
-
Record quarterly dividend declared today for the
December
quarter of
43.9 cents
per share, an increase of
33.8
% from the year ago quarter.
CHANDLER, Ariz., Nov. 02, 2023 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) - Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today reported results for the three months ended September 30, 2023, as summarized in the table below.
| Three Months Ended September 30, 2023 (1) | ||||||
| Net sales | $2,254.3 | |||||
| GAAP | % | Non-GAAP (2) | % | |||
| Gross profit | $1,527.4 | 67.8% | $1,534.8 | 68.1% | ||
| Operating income | $885.0 | 39.3% | $1,084.7 | 48.1% | ||
| Other expense | $(51.4) | $(48.3) | ||||
| Income tax provision | $167.0 | $147.1 | ||||
| Net income | $666.6 | 29.6% | $889.3 | 39.4% | ||
| Net income per diluted share | $1.21 | $1.62 | ||||
