- Net sales of $1.241 billion , down 6.4% sequentially and down 45.8% from the year ago quarter. The midpoint of our guidance provided on May 6, 2024 was net sales of $1,240 billion.
- On a GAAP basis: gross profit of 59.4% ; operating income of $219.1 million and 17.7% of net sales; net income of $129.3 million ; and EPS of $0.24 per diluted share. Our guidance provided on May 6, 2024 was for GAAP EPS of $ 0.19 to $ 0.24 per diluted share.
- On a Non-GAAP basis: gross profit of 59.9% ; operating income of $390.5 million and 31.5% of net sales; net income of $289.9 million ; and EPS of $0.53 per diluted share. Our guidance provided on May 6, 2024 was for Non-GAAP EPS of $ 0.48 to $ 0.56 per diluted share.
- Returned approximately $315.3 million to stockholders in the June quarter through dividends of $242.6 million and the repurchase of $72.7 million , or 0.8 million shares of our common stock, at an average price of $94.42 per share under our previously announced $4.0 billion stock buyback program. Cumulatively repurchased $2.426 billion , or 31.2 million shares, over the last eleven quarters.
-
Record quarterly dividend declared today for the
September
quarter of
45.4 cents
per share, an increase of
10.7
% from the year ago quarter.
CHANDLER, Ariz., Aug. 01, 2024 (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, 2024, as summarized in the table below.
| Three Months Ended June 30, 2024 (1) | ||||
| Net sales | $1,241.3 | |||
| GAAP | % | Non-GAAP ( 2) | % | |
| Gross profit | $736.9 | 59.4% | $743.5 | 59.9% |
| Operating income | $219.1 | 17.7% | $390.5 | 31.5% |
| Other expense | $(57.3) | $(57.3) | ||
| Income tax provision | $32.5 | $43.3 | ||
| Net income | $129.3 | 10.4% | $289.9 | 23.4% |
| Net income per diluted share | $0.24 | $0.53 | ||
