|
MICROSEMI CORPORATION Consolidated Condensed Income and Operating Cash Flow (Unaudited, in millions, except per share amounts) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended |
|
Fiscal Year Ended | |||||||||||||
|
|
|
Sep 30, 2012 |
Jul 1, 2012 |
Oct 2, 2011 |
|
Sep 30, 2012 |
Oct 2, 2011 | ||||||||||
|
Net sales |
|
$ |
263.1 |
|
$ |
259.2 |
|
$ |
227.3 |
|
|
$ |
1,012.5 |
|
$ |
835.9 |
|
|
Cost of sales |
|
112.7 |
|
114.6 |
|
97.4 |
|
|
459.9 |
|
394.7 |
| |||||
|
Gross profit |
|
$ |
150.4 |
|
$ |
144.6 |
|
$ |
129.9 |
|
|
$ |
552.6 |
|
$ |
441.2 |
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Operating expenses |
|
|
|
|
|
|
| ||||||||||
|
Selling, general and administrative |
|
$ |
53.6 |
|
$ |
51.4 |
|
$ |
46.1 |
|
|
$ |
205.0 |
|
$ |
175.8 |
|
|
Research and development |
|
42.8 |
|
44.0 |
|
32.4 |
|
|
168.5 |
|
114.2 |
| |||||
|
Amortization of intangible assets |
|
27.4 |
|
26.0 |
|
17.7 |
|
|
104.8 |
|
62.4 |
| |||||
|
Acquisition costs |
|
0.5 |
|
0.2 |
|
3.1 |
|
|
7.3 |
|
11.8 |
| |||||
|
Restructuring charges |
|
(0.5) |
|
1.7 |
|
1.8 |
|
|
8.7 |
|
22.0 |
| |||||
|
Total operating expenses |
|
$ |
123.8 |
|
$ |
123.3 |
|
$ |
101.1 |
|
|
$ |
494.3 |
|
$ |
386.2 |
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Operating income |
|
$ |
26.6 |
|
$ |
21.3 |
|
$ |
28.8 |
|
|
$ |
58.3 |
|
$ |
55.0 |
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Interest and other (expense), net |
|
(8.6) |
|
(9.0) |
|
(6.7) |
|
|
(73.0) |
|
(33.0) |
| |||||
|
Income (loss) before income taxes |
|
$ |
18.0 |
|
$ |
12.3 |
|
$ |
22.1 |
|
|
$ |
(14.7) |
|
$ |
22.0 |
|
|
Provision (benefit) for income taxes |
|
6.4 |
|
4.2 |
|
(21.3) |
|
|
15.0 |
|
(33.7) |
| |||||
|
Net income (loss) |
|
$ |
11.6 |
|
$ |
8.1 |
|
$ |
43.4 |
|
|
$ |
(29.7) |
|
$ |
55.7 |
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Earnings (loss) per share |
|
|
|
|
|
|
| ||||||||||
|
Basic |
|
$ |
0.13 |
|
$ |
0.09 |
|
$ |
0.51 |
|
|
$ |
(0.35) |
|
$ |
0.66 |
|
|
Diluted |
|
$ |
0.13 |
|
$ |
0.09 |
|
$ |
0.50 |
|
|
$ |
(0.35) |
|
$ |
0.65 |
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Weighted-average common shares outstanding |
|
|
|
|
|
|
| ||||||||||
|
Basic |
|
86.5 |
|
86.0 |
|
84.4 |
|
|
85.8 |
|
83.9 |
| |||||
|
Diluted |
|
88.8 |
|
87.9 |
|
86.0 |
|
|
85.8 |
|
85.7 |
| |||||
|
|
|
|
|
|
|
|
| ||||||||||
|
Operating cash flow |
|
$ |
55.2 |
|
$ |
54.7 |
|
$ |
56.0 |
|
|
$ |
171.2 |
|
$ |
146.6 |
|
|
Capital expenditures |
|
(9.3) |
|
(13.1) |
|
(6.5) |
|
|
(49.1) |
|
(25.8) |
| |||||
|
Free cash flow |
|
$ |
45.9 |
|
$ |
41.6 |
|
$ |
49.5 |
|
|
$ |
122.1 |
|
$ |
120.8 |
|
