Additional details reconciling the selected GAAP financial measure to the selected non-GAAP financial measure may be found in the "Schedule Reconciling Selected Non-GAAP Financial Measures to Comparable GAAP Financial Measures" and "Notes Reconciling Non-GAAP Financial Information to GAAP Financial Information".
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MICROSEMI CORPORATION | ||||||||||||
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Consolidated Condensed Statement of Income and Operating Cash Flow | ||||||||||||
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(unaudited, in millions, except per share amounts) | ||||||||||||
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Quarter Ended | ||||||||||
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Dec 30,
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Sep 30,
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Jan 1,
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Net sales |
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$ |
247.6 |
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$ |
263.1 |
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$ |
240.9 | |||
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Cost of sales |
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105.0 |
|
112.7 |
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115.2 | ||||||
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Gross profit |
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$ |
142.6 |
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$ |
150.4 |
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$ |
125.7 | |||
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Operating expenses |
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Selling, general and administrative |
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$ |
51.3 |
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$ |
53.6 |
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$ |
48.6 | |||
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Research and development |
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43.2 |
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42.8 |
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39.6 | ||||||
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Amortization of intangible assets |
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21.7 |
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27.4 |
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24.9 | ||||||
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Acquisition costs |
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— |
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0.5 |
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6.1 | ||||||
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Restructuring charges |
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0.9 |
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(0.5) |
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7.2 | ||||||
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Total operating expenses |
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$ |
117.1 |
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$ |
123.8 |
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$ |
126.4 | |||
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Operating income (loss) |
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$ |
25.5 |
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$ |
26.6 |
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$ |
(0.7) | |||
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Interest and other (expense), net |
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(8.3) |
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(8.6) |
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(44.2) | ||||||
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Income (loss) before income taxes |
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$ |
17.2 |
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$ |
18.0 |
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$ |
(44.9) | |||
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Provision (benefit) for income taxes |
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3.0 |
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6.4 |
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(0.3) | ||||||
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Net income (loss) |
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$ |
14.2 |
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$ |
11.6 |
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$ |
(44.6) | |||
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Earnings (loss) per share |
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Basic |
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$ |
0.16 |
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$ |
0.13 |
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$ |
(0.52) | |||
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Diluted |
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$ |
0.16 |
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$ |
0.13 |
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$ |
(0.52) | |||
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Weighted-average common shares outstanding |
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|
|
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| ||||||
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Basic |
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88.5 |
|
86.5 |
|
85.2 | ||||||
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Diluted |
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90.1 |
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88.8 |
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85.2 | ||||||
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Operating cash flow |
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$ |
28.1 |
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$ |
55.2 |
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$ |
19.2 | |||
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Capital expenditures |
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(8.5) |
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(9.3) |
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(12.4) | ||||||
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Free cash flow |
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$ |
19.6 |
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$ |
45.9 |
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$ |
6.8 | |||
