-
For the quarter ended June 30, 2019
- Net sales of $1.323 billion, down 0.5% sequentially and up 9.1% from the year ago quarter. The midpoint of our guidance provided on May 7, 2019 was net sales of $1.33 billion.
- On a GAAP basis: gross margin of 61.6%; operating income of $171.6 million; net income of $50.7 million; and EPS of $0.20 per diluted share. Our guidance provided on May 7, 2019 was GAAP EPS of $0.07 to $0.27 per diluted share.
- On a Non-GAAP basis: gross margin of 62.0%; operating income of $478.5 million and 36.2% of net sales; net income of $357.6 million and EPS of $1.41 per diluted share. Our guidance provided on May 7, 2019 was Non-GAAP EPS of $1.26 to $1.49 per diluted share.
- End-market demand of $1.350 billion compared to end-market demand of $1.340 billion in the March quarter.
- Paid down $257.5 million of debt in the June 2019 quarter. Cumulatively paid down $1.414 billion of debt over the last four quarters.
- Record quarterly dividend declared of 36.60 cents per share.
CHANDLER, Ariz., Aug. 06, 2019 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) - Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today reported results for the three months ended June 30, 2019 as summarized in the following table:
| (in millions, except per share amounts and percentages) | Three Months Ended June 30, 2019 | |||||
| GAAP |
% of
Net Sales | Non-GAAP1 |
% of
Net Sales | |||
| Net sales | $1,322.6 | $1,322.6 | ||||
| Gross margin | $815.2 | 61.6% | $820.1 | 62.0% | ||
| Operating income | $171.6 | 13.0% | $478.5 | 36.2% | ||
| Other expense | $(131.1) | $(100.1) | ||||
| Income tax (benefit) provision | $(10.2) | $20.8 | ||||
| Net income | $50.7 | 3.8% | $357.6 | 27.0% | ||
| Net income per diluted share | $0.20 | $1.41 | ||||
(1) See the "Use of Non-GAAP Financial Measures" section of this release.
GAAP and Non-GAAP net sales for the first quarter of fiscal 2020 were $1.323 billion, up 9.1% from net sales of $1.213 billion in the prior year's first fiscal quarter.
