Microchip Technology Announces Outstanding Financial Results for Third Quarter Fiscal Year 2017


RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
 
 Three Months ended Nine Months Ended
 December 31, December 31,
 2016 2015 2016 2015
Operating expenses, as reported$347,185  $216,586  $1,102,640  $630,286 
Share-based compensation expense(18,652) (14,695) (90,624) (47,778)
Acquisition-related and other costs(4,167) (1,461) (21,967) (4,698)
Amortization of acquired intangible assets(82,791) (48,312) (243,356) (126,764)
Special charges (income) and other, net(20,944) 5,018  (52,522) (3,187)
Non-GAAP operating expenses$220,631  $157,136  $694,171  $447,859 
Non-GAAP operating expenses as a percentage of net sales25.0% 28.5% 26.7% 27.2%


RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
 
 Three Months ended Nine Months Ended
 December 31, December 31,
 2016 2015 2016 2015
Operating income, as reported$118,074  $76,132  $121,730  $272,399 
Distributor revenue recognition adjustment25,985  6,936  50,323  18,399 
Share-based compensation expense22,120  16,965  106,089  54,103 
Manufacturing excursion    800   
Acquisition-related restructuring, acquired inventory valuation and other costs19,175  19,278  211,741  32,147 
Amortization of acquired intangible assets82,791  48,312  243,356  126,764 
Special charges (income) and other, net20,944  (5,018) 52,522  3,187 
Non-GAAP operating income$289,089   $ 162,605     $ 786,561     $ 506,999  
Non-GAAP operating income as a percentage of net sales 32.8 %   29.5 %   30.3 %   30.8 %

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