Microsemi Reports Second Quarter 2017 Results

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" and "Notes on Non-GAAP Financial Measures."

Schedule Reconciling Selected Non-GAAP Financial Measures

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

























Quarter Ended


Six Months Ended



Apr 2,
2017


Jan 1,
2017


Apr 3,
2016


Apr 2,
2017


Apr 3,
2016

GAAP and Non-GAAP gross profit


$

284.1



$

276.5



$

200.6



$

560.6



$

388.5


Manufacturing profit in acquired inventory (1)






66.2





66.2


Inventory write-offs from restructuring activities (2)






4.0





4.0


Non-GAAP gross profit


$

284.1



$

276.5



$

270.8



$

560.6



$

458.7













GAAP operating income (loss)


$

69.1



$

55.8



$

(97.9)



$

124.9



$

(61.3)


Adjustments to GAAP gross profit






70.2





70.2


Restructuring, severance, facilities and other special charges (1)


5.9



2.4



51.9



8.3



53.7


Amortization of intangible assets (2)


46.5



45.5



45.3



92.1



70.7


Stock based compensation (3)


15.6



28.3



24.4



43.9



38.4


Acquisition and divestiture related costs (4)


0.4



0.7



22.3



1.1



28.3


Non-GAAP operating income


$

137.5



$

132.7



$

116.2



$

270.3



$

200.0













GAAP net income (loss)


$

41.2



$

19.5



$

(212.0)



$

60.6



$

(188.3)


Adjustments to GAAP gross profit and operating income


68.4



76.9



214.1



145.4



261.3


Adjustment to gain on divestiture (4)




1.2





1.2




Credit facility issuance and debt extinguishment costs (5)


2.4



2.1



78.2



4.5



78.9


Fair value change in foreign tax liabilities (6)


1.1



(1.0)



3.0



0.1



3.0


Income tax effect on non-GAAP adjustments (7)


(6.9)



1.1



(8.6)



(5.8)



(10.9)


Non-GAAP net income


$

106.2



$

99.8



$

74.7



$

206.0



$

144.0













GAAP diluted earnings (loss) per share


$

0.35



$

0.17



$

(1.93)



$

0.52



$

(1.85)


Effect of non-GAAP adjustments on diluted earnings per share


$

0.56



$

0.69



$

2.60



$

1.25



$

3.24


Non-GAAP diluted earnings per share


$

0.91



$

0.86



$

0.67



$

1.77



$

1.39













Weighted-average diluted shares used in calculating non-GAAP diluted earnings per share


117.0



116.3



111.6



116.6



103.8













Operating cash flow


$

121.5



$

77.6



$

5.4



$

199.1



$

88.3


Payments for capital expenditures


(16.0)



(10.5)



(12.5)



(26.5)



(23.1)


Free cash flow (8)


$

105.5



$

67.1



$

(7.1)



$

172.6



$

65.2



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



Review Article Be the first to review this article


Featured Video
Latest Blog Posts
Alex Carrick, Chief Economist at ConstructConnectThe AEC Lens
by Alex Carrick, Chief Economist at ConstructConnect
2020 U.S. Mega Construction Projects & Carryover of Work into 2021.
Jobs
Senior Software Developer (Revit API) for Microdesk at Boston, Massachusetts
AEC Technical Program Manager for Hexagon Safety & Infrastructure at Madison, Alabama
Senior Highway Engineer for RS&H at Jacksonville, Florida
Architectural Project Designer for SERA Architects, Inc at Oakland, California
Construction Sales Executive for Microdesk at Los Angeles, California
Landscape Project Assist for SERA Architects, Inc at Oakland, California
Upcoming Events
AIBD, Design & Build Winter Conference at United States - Mar 17 - 19, 2021
DCW - Digital Construction Week at Excel London United Kingdom - May 19 - 20, 2021
World Architecture Festival at United States - Jun 23 - 25, 2021
ICSD 2021 : 9th International Conference on Sustainable Development, 8 - 9 September Rome, Italy at Roma Eventi, Pontifical Gregorian University Piazza della Pilotta, 4 Rome Rome Italy - Sep 8 - 9, 2021
Kenesto: 30 day trial
CADalog.com - Countless CAD add-ons, plug-ins and more.



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise