MICROSEMI CORPORATION

Consolidated Condensed Statement of Income and Cash Flow

(unaudited, in millions, except per share amounts)

Quarter Ended

Six Months Ended

Mar 31,
2013

Dec 30,
2012

Apr 1,
2012

Mar 31,
2013

Apr 1,
2012

Net sales

$

235.3

$

247.6

$

249.3

$

482.9

$

490.2

Cost of sales

101.8

105.0

117.4

206.8

232.6

Gross profit

$

133.5

$

142.6

$

131.9

$

276.1

$

257.6

Operating expenses

Selling, general and administrative

$

52.3

$

51.3

$

51.5

$

103.6

$

100.2

Research and development

42.0

43.2

42.2

85.2

81.8

Amortization of intangible assets

21.1

21.7

26.6

42.8

51.3

Restructuring charges

6.3

0.9

0.1

7.2

7.3

Acquisition costs

—

—

0.4

—

6.6

Total operating expenses

$

121.7

$

117.1

$

120.8

$

238.8

$

247.2

Operating income

$

11.8

$

25.5

$

11.1

$

37.3

$

10.4

Interest and other (expense), net

(11.3)

(8.3)

(11.2)

(19.6)

(55.5)

Income (loss) before income taxes

$

0.5

$

17.2

$

(0.1)

$

17.7

$

(45.1)

Provision for income taxes

3.4

3.0

4.7

6.4

4.4

Net income (loss)

$

(2.9)

$

14.2

$

(4.8)

$

11.3

$

(49.5)

Earnings (loss) per share

Basic

$

(0.03)

$

0.16

$

(0.06)

$

0.13

$

(0.58)

Diluted

$

(0.03)

$

0.16

$

(0.06)

$

0.12

$

(0.58)

Weighted-average common shares outstanding

Basic

89.4

88.5

85.6

89.0

85.4

Diluted

89.4

90.1

85.6

90.5

85.4

Operating cash flow

$

31.9

$

28.1

$

42.1

$

60.0

$

61.3

Capital expenditures

(9.0)

(8.5)

(14.2)

(17.5)

(26.7)

Free cash flow

$

22.9

$

19.6

$

27.9

$

42.5

$

34.6