MICROSEMI CORPORATION

Summary of Schedule Reconciling Selected Non-GAAP Financial Measures

to Comparable GAAP Financial Measures

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

Quarter Ended June 29, 2014

GAAP

Non-GAAP Adjustments

Non-GAAP

Net sales

$

292.3

$

—

$

292.3

Gross profit

$

153.6

$

10.1

$

163.7

Operating income

$

6.3

$

59.9

$

66.2

Net income (loss)

$

(4.3)

$

59.1

$

54.8

Diluted earnings (loss) per share

$

(0.05)

$

0.63

$

0.58

Additional details reconciling the selected non-GAAP financial measure to the selected GAAP financial measure may be found in the "Schedule Reconciling Selected Non-GAAP Financial Measures to Comparable GAAP Financial Measures" and "Notes on Non-GAAP Financial Measures."

MICROSEMI CORPORATION

Consolidated Condensed Statement of Income

(unaudited, in millions, except per share amounts)

Quarter Ended

Nine Months Ended

Jun 29,
2014

Mar 30,
2014

Jun 30,
2013

Jun 29,
2014

Jun 30,
2013

Net sales

$

292.3

$

287.0

$

242.6

$

834.9

$

725.6

Cost of sales

138.7

138.4

104.3

394.4

311.2

Gross profit

$

153.6

$

148.6

$

138.3

$

440.5

$

414.4

Operating expenses

Selling, general and administrative

$

61.0

$

62.5

$

48.8

$

179.1

$

152.5

Research and development

48.0

49.3

42.2

141.5

127.3

Amortization of intangible assets

23.4

24.3

21.0

69.7

63.9

Restructuring charges

3.4

4.8

1.1

15.8

8.1

Facility consolidation charges

11.2

—

—

11.2

—

Acquisition costs

0.3

0.4

—

2.4

—

  Total operating expenses

$

147.3

$

141.3

$

113.1

$

419.7

$

351.8

Operating income

$

6.3

$

7.3

$

25.2

$

20.8

$

62.6

Interest and other (expense), net

(7.1)

(8.8)

(7.0)

(23.8)

(26.7)

Income (loss) before income taxes

$

(0.8)

$

(1.5)

$

18.2

$

(3.0)

$

35.9

Provision (benefit) for income taxes

3.5

5.3

(0.1)

6.7

6.3

Net income (loss)

$

(4.3)

$

(6.8)

$

18.3

$

(9.7)

$

29.6

Earnings (loss) per share

Basic

$

(0.05)

$

(0.07)

$

0.20

$

(0.10)

$

0.33

Diluted

$

(0.05)

$

(0.07)

$

0.20

$

(0.10)

$

0.33

Weighted-average common shares outstanding

Basic

93.1

92.8

89.8

92.7

89.2

Diluted

93.1

92.8

91.7

92.7

90.8