MICROSEMI CORPORATION

Selected GAAP and Non-GAAP Financial Measures

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

Quarter Ended

Six Months Ended

Mar 30,
2014

Dec 29,
2013

Mar 31,
2013

Mar 30,
2014

Mar 31,
2013

Net sales

$

287.0

$

255.6

$

235.3

$

542.6

$

482.9

Selected GAAP Financial Measures

Gross profit

$

145.4

$

138.3

$

133.5

$

283.7

$

276.1

Gross margin

50.7%

54.1%

56.7%

52.3%

57.2%

Operating income

$

4.1

$

7.2

$

11.8

$

11.2

$

37.3

Operating margin

1.4%

2.8%

5.0%

2.1%

7.7%

Net income (loss)

$

(8.7)

$

1.4

$

(2.9)

$

(7.3)

$

11.3

Diluted earnings (loss) per share

$

(0.09)

$

0.01

$

(0.03)

$

(0.08)

$

0.12

Selected Non-GAAP Financial Measures

Gross profit

$

158.3

$

143.1

$

133.5

$

301.4

$

276.1

Gross margin

55.2%

56.0%

56.7%

55.5%

57.2%

Operating income

$

59.3

$

54.1

$

50.0

$

113.4

$

106.7

Operating margin

20.7%

21.2%

21.2%

20.9%

22.1%

Net income

$

47.7

$

42.9

$

38.9

$

90.6

$

83.9

Diluted earnings per share

$

0.51

$

0.46

$

0.43

$

0.97

$

0.93

Additional details reconciling the selected GAAP financial measure to the selected non-GAAP financial measure may be found in the "Schedule Reconciling Selected Non-GAAP Financial Measures to Comparable GAAP Financial Measures" and "Notes on Non-GAAP Financial Measures."