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Record net sales of $1.569 billion, up 7.0% sequentially and up 19.8% from the year ago quarter. The midpoint of our guidance provided on May 6, 2021 was net sales of $1.548 billion.
- On a GAAP basis: record gross margin of 64.2%; record operating income of $368.8 million; net income of $252.8 million; and EPS of $0.89 per diluted share. Our guidance provided on May 6, 2021 was for GAAP EPS of $0.75 to $0.79 per diluted share.
- On a Non-GAAP basis: record gross margin of 64.8%; record operating income of $655.1 million and a record 41.7% of net sales; record net income of $558.8 million and record EPS of $1.98 per diluted share. Our guidance provided on May 6, 2021 was for Non-GAAP EPS of $1.85 to $1.95 per diluted share.
- Record microcontroller and analog revenue.
- Record cash flow from operations of $629.9 million.
- Paid down $388.0 million of debt in the June 2021 quarter. Cumulatively paid down $3.99 billion of debt over the last 12 quarters.
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Record quarterly dividend declared of 43.7 cents per share, an increase of 5.8% sequentially and 18.75% from a year ago quarter.
CHANDLER, Ariz., Aug. 03, 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 ended June 30, 2021 as summarized in the following table:
| Three Months Ended June 30, 2021 (1) | ||||||
| Net sales | $1,569.4 | |||||
| GAAP | % | Non-GAAP (2) | % | |||
| Gross margin | $1,007.6 | 64.2% | $1,016.4 | 64.8% | ||
| Operating income | $368.8 | 23.5% | $655.1 | 41.7% | ||
| Other expense | $(71.8) | $(60.6) | ||||
| Income tax provision | $44.2 | $35.7 | ||||
| Net income | $252.8 | 16.1% | $558.8 | 35.6% | ||
| Net income per diluted share | $0.89 | $1.98 | ||||
