MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES | |||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||
SIX MONTHS ENDED SEPTEMBER 30, 2020 | |||||||||||||||
(in millions except per share amounts) | |||||||||||||||
(unaudited) | |||||||||||||||
Net sales | $ | 2,619.2 | |||||||||||||
COVID-19 | Professional | ||||||||||||||
shelter-in- | Amortization | ||||||||||||||
Share-based | services | Special | Loss on | Non-cash | Gains on | Other non- | |||||||||
place | Acquisition- | IT security | of acquired | ||||||||||||
GAAP | compensation | associated | charges and | settlement of | other | equity | GAAP tax | Non-GAAP | |||||||
restrictions on | related costs | remediation | intangible | ||||||||||||
expense | with certain | other, net | debt | expense, net | investments | adjustment | |||||||||
manufacturing | legal matters | assets | |||||||||||||
activities | |||||||||||||||
Cost of sales | $ | 1,013.0 | (12.4) | (2.8) | - | - | - | - | - | - | - | - | - | $ | 997.8 |
Gross profit | 1,606.2 | 12.4 | 2.8 | - | - | - | - | - | - | - | - | - | 1,621.4 | ||
Gross profit percentage | 61.3 % | 61.9 % | |||||||||||||
Research and development | 397.8 | (45.0) | - | - | - | - | - | - | - | - | - | - | 352.8 | ||
Selling, general and administrative | 291.0 | (34.7) | - | (0.6) | (4.8) | (1.3) | - | - | - | - | - | - | 249.6 | ||
Amortization of acquired intangible assets | 468.3 | - | - | - | - | - | (468.3) | - | - | - | - | - | - | ||
Special charges and other, net | 4.6 | - | - | - | - | - | - | (4.6) | - | - | - | - | - | ||
Operating expenses | 1,161.7 | (79.7) | - | (0.6) | (4.8) | (1.3) | (468.3) | (4.6) | - | - | - | - | 602.4 | ||
Operating income | 444.5 | 92.1 | 2.8 | 0.6 | 4.8 | 1.3 | 468.3 | 4.6 | - | - | - | - | 1,019.0 | ||
Operating income percentage | 17.0 % | 38.9 % | |||||||||||||
Other expense, net | (266.2) | - | - | - | - | - | - | - | 71.9 | 41.4 | (0.2) | - | (153.1) | ||
Income before income taxes | 178.3 | 92.1 | 2.8 | 0.6 | 4.8 | 1.3 | 468.3 | 4.6 | 71.9 | 41.4 | (0.2) | - | 865.9 | ||
Income tax provision (benefit) | (18.9) | - | - | - | - | - | - | - | - | - | - | 66.5 | 47.6 | ||
Net income | $ | 197.2 | 92.1 | 2.8 | 0.6 | 4.8 | 1.3 | 468.3 | 4.6 | 71.9 | 41.4 | (0.2) | (66.5) | $ | 818.3 |
Net income percentage | |||||||||||||||
7.5 % | 31.2 % | ||||||||||||||
Diluted net income per common share | $ | 0.38 | $ | 1.56 | |||||||||||
Diluted common shares outstanding | 525.5 | 525.5 | |||||||||||||
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Microchip Technology Incorporated published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 21:11:18 UTC.