MICROSEMI CORPORATION

Consolidated Condensed Income and Operating Cash Flow

(Unaudited, in millions, except per share amounts)

Quarter Ended

Fiscal Year Ended

Sep 30,

2012

Jul 1,

2012

Oct 2,

2011

Sep 30,

2012

Oct 2,

2011

Net sales

$

263.1

$

259.2

$

227.3

$

1,012.5

$

835.9

Cost of sales

112.7

114.6

97.4

459.9

394.7

Gross profit

$

150.4

$

144.6

$

129.9

$

552.6

$

441.2

Operating expenses

Selling, general and administrative

$

53.6

$

51.4

$

46.1

$

205.0

$

175.8

Research and development

42.8

44.0

32.4

168.5

114.2

Amortization of intangible assets

27.4

26.0

17.7

104.8

62.4

Acquisition costs

0.5

0.2

3.1

7.3

11.8

Restructuring charges

(0.5)

1.7

1.8

8.7

22.0

Total operating expenses

$

123.8

$

123.3

$

101.1

$

494.3

$

386.2

Operating income

$

26.6

$

21.3

$

28.8

$

58.3

$

55.0

Interest and other (expense), net

(8.6)

(9.0)

(6.7)

(73.0)

(33.0)

Income (loss) before income taxes

$

18.0

$

12.3

$

22.1

$

(14.7)

$

22.0

Provision (benefit) for income taxes

6.4

4.2

(21.3)

15.0

(33.7)

Net income (loss)

$

11.6

$

8.1

$

43.4

$

(29.7)

$

55.7

Earnings (loss) per share

Basic

$

0.13

$

0.09

$

0.51

$

(0.35)

$

0.66

Diluted

$

0.13

$

0.09

$

0.50

$

(0.35)

$

0.65

Weighted-average common shares outstanding

Basic

86.5

86.0

84.4

85.8

83.9

Diluted

88.8

87.9

86.0

85.8

85.7

Operating cash flow

$

55.2

$

54.7

$

56.0

$

171.2

$

146.6

Capital expenditures

(9.3)

(13.1)

(6.5)

(49.1)

(25.8)

Free cash flow

$

45.9

$

41.6

$

49.5

$

122.1

$

120.8