MICROSEMI CORPORATION

Summary of Schedule Reconciling Selected Non-GAAP Financial Measures

to Comparable GAAP Financial Measures

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

Quarter Ended September 28, 2014

GAAP

Non-GAAP Adjustments

Non-GAAP

Net sales

$

303.3

$

—

$

303.3

Gross profit

$

171.0

$

—

$

171.0

Operating income

$

33.4

$

39.4

$

72.8

Net income

$

32.8

$

28.6

$

61.4

Diluted earnings per share

$

0.34

$

0.30

$

0.64

MICROSEMI CORPORATION

Consolidated Condensed Statement of Income

(unaudited, in millions, except per share amounts)

Quarter Ended

Twelve Months Ended

Sep 28, 2014

Jun 29, 2014

Sep 29, 2013

Sep 28, 2014

Sep 29, 2013

Net sales

$

303.3

$

292.3

$

250.4

$

1,138.3

$

975.9

Cost of sales

132.3

138.7

107.6

526.8

418.7

Gross profit

$

171.0

$

153.6

$

142.8

$

611.5

$

557.2

Operating expenses

Selling, general and administrative

$

58.9

$

61.0

$

49.9

$

238.1

$

202.5

Research and development

50.6

48.0

43.2

192.0

170.6

Amortization of intangible assets

23.1

23.4

21.0

92.8

84.8

Restructuring charges

1.8

3.4

1.8

17.6

9.9

Facility consolidation charges

2.7

11.2

—

13.9

—

Acquisition costs

0.5

0.3

—

2.9

—

Total operating expenses

$

137.6

$

147.3

$

115.9

$

557.3

$

467.8

Operating income

$

33.4

$

6.3

$

26.9

$

54.2

$

89.4

Interest and other (expense), net

(6.5)

(7.1)

(6.7)

(30.3)

(33.3)

Income (loss) before income taxes

$

26.9

$

(0.8)

$

20.2

$

23.9

$

56.1

Provision (benefit) for income taxes

(5.9)

3.5

6.1

0.8

12.4

Net income (loss)

$

32.8

$

(4.3)

$

14.1

$

23.1

$

43.7

Earnings (loss) per share

Basic

$

0.35

$

(0.05)

$

0.16

$

0.25

$

0.49

Diluted

$

0.34

$

(0.05)

$

0.15

$

0.24

$

0.48

Weighted-average common shares outstanding

Basic

93.6

93.1

90.4

92.9

89.5

Diluted

95.6

93.1

92.8

94.5

91.3