MICROCHIP TECHNOLOGY, INC. MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES | ||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||
THREE MONTHS ENDED JUNE 30, 2021 | ||||||||||||
(in millions, except per share amounts) | ||||||||||||
(unaudited) | ||||||||||||
Net sales | $ | 1,569.4 | ||||||||||
Professional | Amortization | Special | ||||||||||
Share-based | services | Loss on | Non-cash | Other non- | ||||||||
Acquisition- | of acquired | (income) | ||||||||||
GAAP | compensation | associated | settlement of | other | GAAP tax | Non-GAAP | ||||||
related costs | intangible | charges and | ||||||||||
expense | with certain | assets | other, net | debt | expense, net | adjustment | ||||||
legal matters | ||||||||||||
Cost of sales | $ | 561.8 | (8.8) | - | - | - | - | - | - | - | $ | 553.0 |
Gross profit | 1,007.6 | 8.8 | - | - | - | - | - | - | - | 1,016.4 | ||
Gross profit percentage | 64.2 % | 64.8 % | ||||||||||
Research and development | 238.4 | (26.6) | (0.2) | - | - | - | - | - | - | 211.6 | ||
Selling, general and administrative | 174.3 | (21.2) | (1.3) | (2.1) | - | - | - | - | - | 149.7 | ||
Amortization of acquired intangible assets | 215.6 | - | - | - | (215.6) | - | - | - | - | - | ||
Special (income) charges and other, net | 10.5 | - | - | - | - | (10.5) | - | - | - | - | ||
Operating expenses | 638.8 | (47.8) | (1.5) | (2.1) | (215.6) | (10.5) | - | - | - | 361.3 | ||
Operating income | 368.8 | 56.6 | 1.5 | 2.1 | 215.6 | 10.5 | - | - | - | 655.1 | ||
Operating income percentage | 23.5 % | 41.7 % | ||||||||||
Other expense, net | (71.8) | - | - | - | - | - | 0.3 | 10.9 | - | (60.6) | ||
Income before income taxes | 297.0 | 56.6 | 1.5 | 2.1 | 215.6 | 10.5 | 0.3 | 10.9 | - | 594.5 | ||
Income tax provision | 44.2 | - | - | - | - | - | - | - | (8.5) | 35.7 | ||
Net income | $ | 252.8 | 56.6 | 1.5 | 2.1 | 215.6 | 10.5 | 0.3 | 10.9 | 8.5 | $ | 558.8 |
Net income percentage | ||||||||||||
16.1 % | 35.6 % | |||||||||||
Diluted net income per common share | $ | 0.45 | $ | 0.99 | ||||||||
Diluted common shares outstanding | 565.1 | 565.1 | ||||||||||
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Microchip Technology Incorporated published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 20:38:55 UTC.
