Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2021

 Three Months Ended Twelve Months Ended
 March 31, March 31,
 2021 2020 2021 2020
Net income, as reported$116.0  $99.9  $349.4  $570.6 
Share-based compensation expense55.0  40.7  198.3  170.2 
COVID-19 shelter-in-place restrictions on manufacturing activities  3.3  2.8  3.3 
Manufacturing excursion5.8    5.8   
Acquisition-related2.4  10.9  4.0  35.8 
Professional services associated with certain legal matters0.4  3.3  9.5  3.3 
IT security remediation0.1  1.1  1.5  6.8  
Amortization of acquired intangible assets 232.4     248.5     932.3     993.9  
Special (income) charges and other, net (7.2 )   17.2     1.7     46.7  
Loss on settlement of debt 85.6     3.4     299.6     5.4  
Non-cash other expense, net 12.0     31.0     66.6     122.6  
Gains on equity investments     (1.5 )   (0.2 )   (2.6 )
Other non-GAAP tax adjustment 18.9     (82.3 )   (86.7 )   (516.4 )
Non-GAAP net income $ 521.4     $ 375.5     $ 1,784.6     $ 1,439.6  
Non-GAAP net income as a percentage of net sales 35.5 %   28.3 %   32.8 %   27.3 %
GAAP net income as a percentage of net sales 7.9 %   7.5 %   6.4 %   10.8 %
Diluted net income per common share, as reported $ 0.41     $ 0.39     $ 1.29     $ 2.23  
Non-GAAP diluted net income per common share $ 1.85     $ 1.46     $ 6.59     $ 5.62  
Diluted common shares outstanding, as reported 281.5     257.3     270.6     256.2  
Diluted common shares outstanding non-GAAP 281.5     257.3     270.6     256.2  
                       

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