• Record net sales of $2.169 billion , up 4.6% sequentially and up 23.4% from the year ago quarter. The midpoint of our guidance provided on November 3, 2022 was net sales of $ 2.156 billion.
  

• On a GAAP basis: record gross margin of 67.8% ; record operating income of $811.6 million and a record 37.4% of net sales; record net income of $580.3 million ; and record EPS of $1.04 per diluted share. Our guidance provided on November 3, 2022 was for GAAP EPS of $ 1.03 to $ 1.07 per diluted share.
  

• On a Non-GAAP basis: record gross margin of 68.1% ; record operating income of $1.030 billion and a record 47.5% of net sales; record net income of $863.7 million and record EPS of $1.56 per diluted share. Our guidance provided on November 3, 2022 was for Non-GAAP EPS of $ 1.54 to $ 1.56 per diluted share.

• Paid down $719.1 million of debt in the December 2022 quarter. Cumulatively paid down $6.2 billion of debt over the last 18 quarters .

• Returned approximately $409.8 million to shareholders in the December quarter through dividends of $180.3 million and the repurchase of approximately $229.5 million , or 3.1 million shares of our common stock, at an average price of $74.26 per share under our previously announced $4.0 billion stock buyback program. Cumulatively repurchased approximately $1.098 billion , or 15.2 million shares, over the last five quarters .

• Record quarterly dividend declared in the March quarter of 35.8 cents per share, an increase of 9.1 % sequentially and 41.5 % from the year ago quarter.

CHANDLER, Ariz., Feb. 02, 2023 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) - Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today reported results for the three months ended December 31, 2022, as summarized in the table below.