For the quarter ended March 31, 2021
- Record net sales of $1.467 billion, up 8.5% sequentially and up 10.6% from the year ago quarter. The midpoint of our guidance provided on February 4, 2021 was net sales of $1.454 billion.
- On a GAAP basis: record gross margin of 63.2%; operating income of $308.0 million; net income of $116.0 million; and EPS of $0.41 per diluted share. Our guidance provided on February 4, 2021 was for GAAP EPS of $0.52 to $0.58 per diluted share. Our guidance did not include the $85.6 million loss on debt settlement associated with our debt refinancing activities.
- On a Non-GAAP basis: record gross margin of 64.1%; record operating income of $596.9 million and a record 40.7% of net sales; record net income of $521.4 million and record EPS of $1.85 per diluted share. Our guidance provided on February 4, 2021 was for Non-GAAP EPS of $1.67 to $1.79 per diluted share.
- Record microcontroller revenue.
- Record EBITDA of $652.3 million.
- Cash flow from operations of $449.2 million.
- Paid down $369.2 million of debt in the March 2021 quarter. Cumulatively paid down $3.61 billion of debt over the last 11 quarters.
- Record quarterly dividend declared of 41.3 cents per share, an increase of 5.9% from the prior quarter.
For fiscal year 2021
- Record net sales of $5.438 billion.
- On a GAAP basis: record gross margins of 62.1%; record operating income of $998.1 million; net income of $349.4 million, adversely impacted by purchase accounting adjustments associated with our acquisitions and a $299.6 million loss on debt settlement associated with our debt refinancing activities; and EPS of $1.29 per diluted share.
- On a Non-GAAP basis: record gross margins of 62.8%; record operating income of $2.15 billion and a record 39.6%; record net income of $1.78 billion and record EPS of $6.59 per diluted share.
- Record microcontroller revenue.
-
Record EBITDA of $2.375 billion.
CHANDLER, Ariz., May 06, 2021 (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 and fiscal year ended March 31, 2021 as summarized in the following table:
| Three Months Ended March 31, 2021 (1) | Twelve Months Ended March 31, 2021 (1) | |||||||
| Net sales | $1,467.1 | $5,438.4 | ||||||
| GAAP | % | Non-GAAP ( 2) | % | GAAP | % | Non-GAAP ( 2) | % | |
| Gross margin | $926.8 | 63.2% | $940.4 | 64.1% | $3,378.8 | 62.1% | $3,414.0 | 62.8% |
| Operating income | $308.0 | 21.0% | $596.9 | 40.7% | $998.1 | 18.4% | $2,154.0 | 39.6% |
| Other expense | $(163.6) | $(66.0) | $(658.6) | $(292.6) | ||||
| Income tax provision (benefit) | $28.4 | $9.5 | $(9.9) | $76.8 | ||||
| Net income | $116.0 | 7.9% | $521.4 | 35.5% | $349.4 | 6.4% | $1,784.6 | 32.8% |
| Net income per diluted share | $0.41 | $1.85 | $1.29 | $6.59 | ||||
