EXHIBIT 99.1
Published on May 12, 2009
Exhibit
99.1
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MICROCHIP
TECHNOLOGY INCORPORATED AND SUBSIDIARIES
CONDENSED
CONSOLIDATED STATEMENTS OF INCOME
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(in
thousands except per share amounts)
(Unaudited)
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Three
Months Ended
March 31,
|
Twelve Months Ended
March 31,
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|||||||||||||||
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2009
|
2008
|
2009
|
2008
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|||||||||||||
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Net
sales
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$ | 173,253 | $ | 260,418 | $ | 903,297 | $ | 1,035,737 | ||||||||
|
Cost
of sales
|
89,286 | 101,784 | 386,793 | 410,799 | ||||||||||||
|
Gross
profit
|
83,967 | 158,634 | 516,504 | 624,938 | ||||||||||||
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Operating
expenses:
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||||||||||||||||
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Research
and development
|
25,656 | 31,506 | 115,524 | 120,864 | ||||||||||||
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Selling,
general and administrative
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33,336 | 45,396 | 161,218 | 175,646 | ||||||||||||
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Special
charges
|
5,934 | - | 6,434 | 26,763 | ||||||||||||
| 64,926 | 76,902 | 283,176 | 323,273 | |||||||||||||
|
Operating
income
|
19,041 | 81,732 | 233,328 | 301,665 | ||||||||||||
|
Other
income, net
|
9,881 | 7,089 | 3,922 | 49,320 | ||||||||||||
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Income before
income taxes
|
28,922 | 88,821 | 237,250 | 350,985 | ||||||||||||
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Income
tax provision (benefit)
|
6,093 | 12,169 | (11,570 | ) | 53,237 | |||||||||||
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Net
income
|
$ | 22,829 | $ | 76,652 | $ | 248,820 | $ | 297,748 | ||||||||
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Basic
net income per share
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$ | 0.13 | $ | 0.41 | $ | 1.36 | $ | 1.44 | ||||||||
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Diluted
net income per share
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$ | 0.12 | $ | 0.40 | $ | 1.33 | $ | 1.40 | ||||||||
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Basic
shares used in calculation
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182,392 | 186,969 | 183,158 | 207,220 | ||||||||||||
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Diluted
shares used in calculation
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184,168 | 191,261 | 186,788 | 212,048 | ||||||||||||