• Record net sales of $1.650 billion, up 5.1% sequentially and up 26.0% from the year ago quarter. The midpoint of our guidance provided on August 3, 2021 was net sales of $1.648 billion.
  
• On a GAAP basis: record gross margin of 64.8%; record operating income of $416.3 million; net income of $242.0 million; and EPS of $0.43 per diluted share. Our guidance provided on August 3, 2021 was for GAAP EPS of $0.47 to $0.49 per diluted share on a split-adjusted basis. Our guidance did not include the $85.2 million loss on debt settlement associated with our debt refinancing activities in the quarter.
• On a Non-GAAP basis: record gross margin of 65.3%; record operating income of $700.7 million and a record 42.5% of net sales; record net income of $605.6 million and record EPS of $1.07 per diluted share on a split-adjusted basis. Our guidance provided on August 3, 2021 was for Non-GAAP EPS of $1.025 to $1.085 per diluted share on a split-adjusted basis.
• Cash flow from operations of $611.7 million.
• Paid down $415.6 million of debt in the September 2021 quarter. Cumulatively paid down $4.41 billion of debt over the last 13 quarters.
• Record quarterly dividend declared of 23.2 cents per share, an increase of 6.2% sequentially and 25.9% from the year ago quarter.
• Completed a two-for-one stock split on October 12, 2021 effective for stockholders of record on October 4, 2021. All share and per share amounts in this press release have been adjusted to reflect the stock split.
  

CHANDLER, Ariz., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today reported results for the three months ended September 30, 2021, as summarized in the table below.