CHANDLER, Ariz. — (BUSINESS WIRE) — October 30, 2014 — Microchip Technology Incorporated (NASDAQ: MCHP)
- Record net sales of $546.2 million, up 3.3% sequentially on a GAAP basis, including $16.9 million of revenue from the ISSC acquisition.
- Record net sales in each of our 8-bit, 16-bit and 32-bit microcontrollers.
- On a non-GAAP basis: gross margins of 59.1%; record operating income of $177.3 million, net income of $150.2 million; and EPS of 67 cents per diluted share.
- On a GAAP basis: gross margins of 56.3%; operating income of $101.3 million; net income of $93.6 million; and EPS of 42 cents per diluted share.
Microchip Technology Incorporated (NASDAQ: MCHP), a leading provider of microcontroller, mixed signal, analog and Flash-IP solutions, today reported results for the three months ended September 30, 2014 as summarized in the following table:
|(in millions, except earnings per diluted share and percentages)||Three Months Ended September 30, 2014|
% of Net
% of Net
|Other Expense (including Gains/Losses on Equity Method Investments)||$10.6||$8.2|
|Income Tax Provision (benefit)||$(1.3)||$18.4|
|Net Income before non-controlling interest||$92.0||16.8%||$150.7||27.6%|
|Net Income (loss) from non-controlling interest||$(1.6)||$0.5|
|Net Income Attributable to Microchip||$93.6||17.1%||$150.2||27.5%|
|Earnings per Diluted Share||42 cents||67 cents|
|1||See the "Use of Non-GAAP Financial Measures" section of this release.|