- Record net sales of $1.964 billion, up 6.5% sequentially and up 25.1% from the year ago quarter. The midpoint of our guidance provided on May 9, 2022 was net sales of $1.955 billion.
- On a GAAP basis: record gross margin of 66.7%; record operating income of $701.3 million and 35.7% of net sales; record net income of $507.2 million; and record EPS of $0.90 per diluted share. Our guidance provided on May 9, 2022 was for GAAP EPS of $0.85 to $0.86 per diluted share.
- On a Non-GAAP basis: record gross margin of 67.1%; record operating income of $894.9 million and a record 45.6% of net sales; record net income of $767.2 million and record EPS of $1.37 per diluted share. Our guidance provided on May 9, 2022 was for Non-GAAP EPS of $1.32 to $1.36 per diluted share.
- Record cash flow from operations of $840.4 million.
- Paid down $233.6 million of debt in the June 2022 quarter. Cumulatively paid down $5.21 billion of debt over the last 16 quarters.
- Record quarterly dividend declared of 30.1 cents per share, an increase of 9.1% sequentially and 37.8% from the year ago quarter.
-
Repurchased approximately $195.2 million, or 2.9 million shares of our common stock, at an average price of $66.85 per share during the June 2022 quarter under our previously announced $4.0 billion stock buyback program. Cumulatively repurchased approximately $620.8 million, or 8.5 million shares, over the last three quarters.
CHANDLER, Ariz., Aug. 02, 2022 (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, 2022, as summarized in the table below.
| Three Months Ended June 30, 2022 (1) | ||||||||||
| Net sales | $ | 1,963.6 | ||||||||
| GAAP | % | Non-GAAP ( 2) | % | |||||||
| Gross margin | $ | 1,309.9 | 66.7 | % | $ | 1,317.6 | 67.1 | % | ||
| Operating income | $ | 701.3 | 35.7 | % | $ | 894.9 | 45.6 | % | ||
| Other expense | $ | (54.7 | ) | $ | (48.4 | ) | ||||
| Income tax provision | $ | 139.4 | $ | 79.3 | ||||||
| Net income | $ | 507.2 | 25.8 | % | $ | 767.2 | 39.1 | % | ||
| Net income per diluted share | $ | 0.90 | $ | 1.37 | ||||||
