- 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 | $1,527.4 | 67.8% | $1,534.8 | 68.1% | ||
Operating income | $885.0 | 39.3% | $1,084.7 | 48.1% | ||
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 |