Microchip Technology Announces Record Net Sales for Fourth Quarter and Fiscal Year 2017
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RECONCILIATION OF GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO NON-GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES |
| | Three Months ended | | Twelve Months Ended |
| | March 31, | | March 31, |
| | 2017 | | 2016 | | 2017 | | 2016 |
| Selling, general and administrative expenses, as reported | $ | 111,160 | | | $ | 78,293 | | | $ | 499,811 | | | $ | 301,670 | |
| Share-based compensation expense | (9,586 | ) | | (6,991 | ) | | (62,641 | ) | | (31,146 | ) |
| Acquisition-related and other costs | (5,139 | ) | | (5,040 | ) | | (27,131 | ) | | (9,738 | ) |
| Non-GAAP selling, general and administrative expenses | $ | 96,435 | | | $ | 66,262 | | | $ | 410,039 | | | $ | 260,786 | |
| Non-GAAP selling, general and administrative expenses as a percentage of net sales | 10.7 | % | | 11.7 | % | | 11.7 | % | | 11.8 | % |
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RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
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| | Three Months ended | | Twelve Months Ended |
| | March 31, | | March 31, |
| | 2017 | | 2016 | | 2017 | | 2016 |
| Operating expenses, as reported | $ | 378,739 | | | $ | 222,833 | | | $ | 1,481,379 | | | $ | 853,119 | |
| Share-based compensation expense | (18,818 | ) | | (15,390 | ) | | (109,442 | ) | | (63,168 | ) |
| Acquisition-related and other costs | (5,972 | ) | | (5,040 | ) | | (27,939 | ) | | (9,738 | ) |
| Amortization of acquired intangible assets | (94,311 | ) | | (48,132 | ) | | (337,667 | ) | | (174,896 | ) |
| Special charges and other, net | (46,086 | ) | | (770 | ) | | (98,608 | ) | | (3,957 | ) |
| Non-GAAP operating expenses | $ | 213,552 | | | $ | 153,501 | | | $ | 907,723 | | | $ | 601,360 | |
| Non-GAAP operating expenses as a percentage of net sales | 23.7 | % | | 27.0 | % | | 25.9 | % | | 27.2 | % |
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