• Record net sales of $2.073 billion , up 5.6% sequentially and up 25.7% from the year ago quarter. The midpoint of our guidance provided on August 2, 2022 was net sales of $ 2.062 billion.
• On a GAAP basis: record gross margin of 67.4% ; record operating income of $755.1 million and a record 36.4% of net sales; record net income of $546.2 million ; and record EPS of $0.98 per diluted share. Our guidance provided on August 2, 2022 was for GAAP EPS of $ 0.94 to $ 0.95 per diluted share.
• On a Non-GAAP basis: record gross margin of 67.7% ; record operating income of $971.4 million and a record 46.9% of net sales; record net income of $814.4 million and record EPS of $1.46 per diluted share. Our guidance provided on August 2, 2022 was for Non-GAAP EPS of $ 1.42 to $ 1.46 per diluted share.
• Cash flow from operations of $793.2 million .
• Paid down $264.9 million of debt in the September 2022 quarter. Cumulatively paid down $5.48 billion of debt over the last 17 quarters .
• Record quarterly dividend declared of 32.8 cents per share, an increase of 9.0 % sequentially and 41.4 % from the year ago quarter.
• Repurchased approximately $ 247.2 million, or 3.6 million shares of our common stock, at an average price of $ 68.18 per share during the September 2022 quarter under our previously announced $4.0 billion stock buyback program. Cumulatively repurchased approximately $ 868.0 million, or 12.1 million shares, over the last four quarters.
  

CHANDLER, Arizona , Nov. 03, 2022 (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 September 30, 2022, as summarized in the table below.