Microsemi Reports Fourth Quarter and Fiscal Year 2016 Results

 

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

 

Summary of Schedule Reconciling Selected Non-GAAP Financial Measures

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





Quarter Ended October 2, 2016



GAAP


Non-GAAP
Adjustments


Non-GAAP

Net sales


$

450.1



$



$

450.1


Gross profit


$

281.8



$



$

281.8


Operating income


$

72.2



$

67.3



$

139.5


Net income


$

48.9



$

56.0



$

104.9


Diluted earnings per share


$

0.42



$

0.49



$

0.91


 

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

 

Consolidated Condensed Statements of Income

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





Quarter Ended


Fiscal Year Ended



Oct 2, 
2016


Jul 3, 
2016


Sep 27, 
2015


Oct 2, 
2016


Sep 27, 
2015

Net sales


$

450.1



$

431.4



$

328.8



$

1,655.0



$

1,245.6


Cost of sales


168.3



164.5



154.0



717.9



561.3


Gross profit


$

281.8



$

266.9



$

174.8



$

937.1



$

684.3













Operating expenses











Selling, general and administrative


$

77.9



$

80.1



$

61.0



$

321.0



$

243.3


Research and development


83.5



83.0



54.0



309.1



200.3


Amortization of intangible assets


45.6



44.9



25.4



161.2



96.5


Restructuring, severance and facilities charges


2.4



4.9



1.4



60.7



15.4


Acquisition and divestiture related costs


0.2



2.8



0.7



31.4



6.2


  Total operating expenses


$

209.6



$

215.7



$

142.5



$

883.4



$

561.7













Operating income


$

72.2



$

51.2



$

32.3



$

53.7



$

122.6













Interest and other (expense), net


(28.0)



73.4



(4.8)



(79.1)



(25.7)


Income (loss) before income taxes


$

44.2



$

124.6



$

27.5



$

(25.4)



$

96.9


Provision (benefit) for income taxes


(4.7)



9.4



2.2



7.2



12.3


Net income (loss)


$

48.9



$

115.2



$

25.3



$

(32.6)



$

84.6













Earnings (loss) per share











Basic


$

0.43



$

1.03



$

0.27



$

(0.31)



$

0.90


Diluted


$

0.42



$

1.00



$

0.26



$

(0.31)



$

0.88













Weighted-average common shares outstanding











Basic


112.4



112.1



94.3



107.0



94.2


Diluted


115.4



114.6



96.5



107.0



95.9



« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »



Review Article Be the first to review this article



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise