MICROSEMI CORPORATION

Schedule Reconciling Selected Non-GAAP Financial Measures

to Comparable GAAP Financial Measures

(unaudited, in millions, except for per share amounts)

Quarter Ended

Dec 29,

2013

Sep 29,

2013

Dec 30,

2012

GAAP gross profit

$

138.3

$

142.8

$

142.6

Manufacturing profit in acquired inventory (1)

4.8

—

—

Non-GAAP gross profit

$

143.1

$

142.8

$

142.6

GAAP operating income

$

7.2

$

26.9

$

25.5

Adjustments to GAAP gross profit

4.8

—

—

Restructuring and other special charges (2)

8.3

2.1

1.4

Amortization of intangible assets (3)

22.0

21.0

21.7

Stock based compensation (4)

10.1

9.2

8.1

Acquisition costs (5)

1.7

—

—

Non-GAAP operating income

$

54.1

$

59.2

$

56.7

GAAP net income

$

1.4

$

14.1

$

14.2

Adjustments to GAAP gross profit and operating income

46.9

32.3

31.2

Loss from facility closure and asset disposal (2)

—

(0.1)

—

Credit facility issuance and refinancing costs (6)

0.2

0.2

0.3

(Gain) in debt and derivative instruments (7)

(0.3)

(0.3)

(0.3)

Income tax effect on non-GAAP adjustments (8)

(5.3)

2.9

(0.4)

Non-GAAP net income

$

42.9

$

49.1

$

45.0

GAAP diluted earnings per share

$

0.01

$

0.15

$

0.16

Effect of non-GAAP adjustments on diluted earnings per share

$

0.45

$

0.38

$

0.34

Non-GAAP diluted earnings per share

$

0.46

$

0.53

$

0.50

Weighted average diluted shares used in calculating diluted earnings per share

93.5

92.8

90.1

Operating cash flow

$

62.5

$

52.4

$

28.1

Capital expenditures

(12.1)

(6.2)

(8.5)

Free cash flow

$

50.4

$

46.2

$

19.6