Microchip Technology Announces Financial Results For Second Quarter of Fiscal Year 2024

  • Net sales of $2.254 billion , down 1.5% sequentially and up 8.7% from the year ago quarter. The midpoint of our guidance provided on August 3, 2023 was net sales of $ 2.266 billion.
  • On a GAAP basis: gross profit of 67.8% ; operating income of $885.0 million and 39.3% of net sales; record net income of $666.6 million ; and record EPS of $1.21 per diluted share. Our guidance provided on August 3, 2023 was for GAAP EPS of $ 1.18 to $ 1.21 per diluted share.
  • On a Non-GAAP basis: gross profit of 68.1% ; operating income of $1.085 billion and 48.1% of net sales; net income of $889.3 million and EPS of $1.62 per diluted share. Our guidance provided on August 3, 2023 was for Non-GAAP EPS of $ 1.60 to $ 1.64 per diluted share.
  • Returned approximately $562.5 million to shareholders in the September quarter through dividends of $222.7 million and the repurchase of approximately $339.8 million , or 4.2 million shares of our common stock, at an average price of $80.78 per share under our previously announced $4.0 billion stock buyback program. Cumulatively repurchased approximately $1.852 billion , or 24.5 million shares, over the last eight quarters.
  • Record quarterly dividend declared today for the December quarter of 43.9 cents per share, an increase of 33.8 % from the year ago quarter.

CHANDLER, Ariz., Nov. 02, 2023 (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 September 30, 2023, as summarized in the table below.

  Three Months Ended September 30, 2023 (1)
Net sales$2,254.3   
  GAAP % Non-GAAP (2) %
Gross profit$1,527.467.8%$1,534.868.1%
Operating income$885.039.3%$1,084.748.1%
Other expense$(51.4) $(48.3) 
Income tax provision $167.0   $147.1  
Net income $666.6 29.6% $889.3 39.4%
Net income per diluted share $1.21   $1.62  

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14  Next Page »
Featured Video
Jobs
Sr. Silicon Design Engineer for AMD at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
CAD Engineer for Nvidia at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Upcoming Events
SEMICON Japan 2024 at Tokyo Big Sight Tokyo Japan - Dec 11 - 13, 2024
PDF Solutions AI Executive Conference at St. Regis Hotel San Francisco - Dec 12, 2024
DVCon U.S. 2025 at United States - Feb 24 - 27, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise