(In thousands, except per-share data)
|
|
GAAP |
|
NON-GAAP1 |
||||||||||||
|
|
Six Months |
|
Six Months |
||||||||||||
|
|
Q2 2019 |
|
Q2 2018 |
|
Q2 2019 |
|
Q2 2018 |
||||||||
Revenue |
|
$ |
1,071,225 |
|
|
$ |
1,206,331 |
|
|
$ |
1,071,225 |
|
|
$ |
1,206,331 |
|
Gross margin |
|
37.4 |
% |
|
37.0 |
% |
|
47.2 |
% |
|
46.1 |
% |
||||
Operating margin |
|
4.2 |
% |
|
7.2 |
% |
|
20.7 |
% |
|
21.0 |
% |
||||
Net income |
|
$ |
6,985 |
|
|
$ |
36,784 |
|
|
$ |
199,345 |
|
|
$ |
225,260 |
|
Diluted EPS |
|
$ |
0.02 |
|
|
$ |
0.10 |
|
|
$ |
0.52 |
|
|
$ |
0.60 |
|
| 1. | See the "Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures" tables ("Non-GAAP Reconciliation Tables") included below. |
REVENUE SUMMARY |
|||||||||||||||||||||||||
(In thousands, except percentages) |
|||||||||||||||||||||||||
(Unaudited) |
|||||||||||||||||||||||||
|
Three Months Ended |
||||||||||||||||||||||||
|
June 30, 2019 |
|
March 31, 2019 |
|
July 1, 2018 |
|
Sequential
|
|
Year-over-year
|
||||||||||||||||
| Business Unit¹ |
|
|
|
|
|
|
|
|
|
||||||||||||||||
| MCD |
$ |
354,225 |
|
|
$ |
310,389 |
|
|
$ |
368,526 |
|
|
14.1 |
% |
|
(3.9 |
)% |
||||||||
| MPD 2 |
$ |
177,996 |
|
|
$ |
228,615 |
|
|
$ |
255,564 |
|
|
(22.1 |
)% |
|
(30.4 |
)% |
||||||||
| Total |
$ |
532,221 |
|
|
$ |
539,004 |
|
|
$ |
624,090 |
|
|
(1.3 |
)% |
|
(14.7 |
)% |
||||||||
|
|
Three Months Ended |
||||||||||||||||||||||||
| End Use |
June 30, 2019 |
|
March 31, 2019 |
|
July 1, 2018 |
||||||||||||||||||||
| IoT |
37.5 |
% |
|
28.5 |
% |
|
34.1 |
% |
|||||||||||||||||
| Automotive |
38.0 |
% |
|
36.7 |
% |
|
30.8 |
% |
|||||||||||||||||
| Legacy |
24.5 |
% |
|
34.8 |
% |
|
35.1 |
% |
|||||||||||||||||
| Total |
100 |
% |
|
100 |
% |
|
100 |
% |
|||||||||||||||||
| 1. | The Microcontroller and Connectivity Division ("MCD") includes microcontroller, wireless connectivity and USB products and the Memory Products Division ("MPD") includes RAM, Flash and AgigA Tech products. |
| 2. | MPD revenue for the three months ended June 30, 2019 reflects divestment of our NAND business to a newly formed joint venture, which was completed on April 1, 2019. |
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