Microsemi Reports First Quarter 2015 Results chip one stop

News Center

Microsemi Reports First Quarter 2015 Results

2015/01/23Microsemi Company / Market Trends

First Quarter Results Include:
- Record Net Sales of $303.6 Million, Up 18.8 Percent Over Prior Year
- GAAP Operating Income of $29.7 Million, Up 315.3 Percent Over Prior Year
- Record Non-GAAP Operating Income of $74.2 Million, Up 37.0 Percent Over Prior Year
- Record Operating Cash Flow of $66.9 Million
- Record Free Cash Flow of $53.8 Million

ALISO VIEJO, Calif., Jan. 22, 2015 /PRNewswire/ -- Microsemi Corporation (Nasdaq: MSCC), a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, today reported unaudited results for its first quarter of fiscal year 2015 ended Dec. 28, 2014.

Net sales for Microsemi's first quarter of fiscal year 2015 were a record $303.6 million, up 18.8 percent from the first quarter of 2014. GAAP gross margin for the first quarter of 2015 was 55.4 percent, inclusive of the effect of non-cash acquisition-related purchase accounting, compared to 54.1 percent in the first quarter of 2014. GAAP operating margin for the first quarter of 2015 was 9.8 percent compared to 2.8 percent in the first quarter of 2014. GAAP net income for the first quarter of 2015 was $19.7 million or $0.21 per diluted share compared to $1.4 million or $0.01 per diluted share for the first quarter of 2014. Operating and free cash flow for the first quarter of 2015 were a record of $66.9 million and $53.8 million, respectively.

For the first quarter of fiscal year 2015, non-GAAP gross margin was 56.2 percent. Non-GAAP operating margin was 24.4 percent, improving 40 basis points from the prior quarter and 320 basis points from the first quarter of 2014. Non-GAAP net income for the first quarter of 2015 was a record $61.9 million compared to $61.4 million for the fourth quarter of 2014 and $42.9 million for the first quarter of 2014. Non-GAAP diluted earnings per share for the first quarter of 2015 were $0.65.

"Microsemi made significant progress in our first fiscal quarter and we are pleased to see strong execution on our strategic business model," said James J. Peterson, chairman of the board and CEO of Microsemi. "Our continued operational excellence and increased traction with tier-one customers are supporting the long-term growth and enhanced profitability necessary to yield strong shareholder returns."

Business Outlook

Microsemi currently expects net sales in the second quarter of fiscal year 2015 to be flat to down 4.5% and expects non-GAAP diluted earnings per share of between $0.64 and $0.68.

Microsemi regularly announces a quarterly outlook in the form of issuing a news release and does not undertake to update any of this information between such public announcements to reflect subsequent events or circumstances. Please refer to the "SAFE HARBOR" STATEMENT below for risks that may affect future actual results.

Non-GAAP Financial Measures

For further information regarding Microsemi's non-GAAP financial measures, please refer to "Notes on Non-GAAP Financial Measures" below. Non-GAAP financial measures are reconciled to comparable GAAP financial measures in the accompanying financial tables.

Visit Chip1Stop Chinese site
Visit Chip1Stop Korean site
Visit Chip1Stop English site
Visit Chip1Stop German site

Companies Website:
http://www.microsemi.com/

Microsemi Click here to purchase

Microsemi News Release

Microsemi's Robust, High Reliability Products Support U.S. Navy's Trident II D5 Missile Program
2016/03/25Microsemi Company / Market Trends
Microsemi Announces Definitive Agreement to Divest Business to Mercury Systems, Inc.
2016/03/24Microsemi Company / Market Trends
Microsemi DIGI-G4's Encryption Engine to Lead Secured Optical Connectivity to the Cloud
2016/03/23Microsemi Processor/Memory
Microsemi's SmartFusion2 SoC FPGAs Successfully Adopted by Extreme Engineering Solutions, Enabling Company to Provide Advanced Security Features
2016/03/18Microsemi Logic/PLD
Microsemi Announces New Secured FPGA Production Programming Solution to Prevent Overbuilding, Cloning, Reverse Engineering, Malware Insertion and Other Security Threats
2016/03/16Microsemi Logic/PLD

・Search in bulk with your existing part list

・Search based on multiple keywords and specs.

News Center