• 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:

⁽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.