MICROSEMI CORPORATION

Schedule Reconciling Selected Non-GAAP Financial Measures

to Comparable GAAP Financial Measures

(unaudited, in millions, except for per share amounts)

Quarter Ended

Dec 30,
2012

Sep 30,
2012

Jan 1,
2012

GAAP gross profit

$

142.6

$

150.4

$

125.7

Manufacturing profit in acquired inventory (1)

—

—

6.2

Non-GAAP gross profit

$

142.6

$

150.4

$

131.9

GAAP operating income (loss)

$

25.5

$

26.6

$

(0.7)

Adjustments to GAAP gross profit

—

—

6.2

Restructuring and other special charges (2)

1.4

0.3

7.8

Amortization of intangible assets (3)

21.7

27.4

24.9

Stock based compensation (4)

8.1

9.7

7.5

Acquisition costs (5)

—

0.5

6.1

Non-GAAP operating income

$

56.7

$

64.5

$

51.8

GAAP net income (loss)

$

14.2

$

11.6

$

(44.6)

Adjustments to GAAP gross profit and operating income

31.2

37.9

52.5

Thailand flood-related charges (2)

—

—

3.5

Credit facility issuance and refinancing costs (6)

0.3

0.3

34.0

(Gain) in debt and derivative instruments (7)

(0.3)

(0.2)

(5.1)

Income tax effect on non-GAAP adjustments (8)

(0.4)

2.2

(6.7)

Non-GAAP net income

$

45.0

$

51.8

$

33.6

GAAP diluted earnings (loss) per share

$

0.16

$

0.13

$

(0.52)

Effect of non-GAAP adjustments on diluted earnings per share

$

0.34

$

0.45

$

0.91

Non-GAAP diluted earnings per share

$

0.50

$

0.58

$

0.39

Weighted average diluted shares used in calculating non-GAAP diluted earnings per share

90.1

88.8

86.2