• Record net sales of $2.289 billion , up 2.5% sequentially and up 16.6% from the year ago quarter. The midpoint of our guidance provided on May 4, 2023 was net sales of $ 2.289 billion.
• On a GAAP basis: record gross profit of 68.1% ; record operating income of $903.1 million and a record 39.5% of net sales; record net income of $666.4 million ; and record EPS of $1.21 per diluted share. Our guidance provided on May 4, 2023 was for GAAP EPS of $ 1.15 to $ 1.16 per diluted share.
• On a Non-GAAP basis: record gross profit of 68.4% ; record operating income of $1.100 billion and a record 48.1% of net sales; net income of $905.3 million and record EPS of $1.64 per diluted share. Our guidance provided on May 4, 2023 was for Non-GAAP EPS of $ 1.63 to $ 1.65 per diluted share.
• Paid down $413.0 million of debt in the June 2023 quarter. Cumulatively paid down $6.8 billion of debt over the last 20 quarters . Reduced net leverage to 1.29x.
• Returned approximately $349.2 million to shareholders in the June quarter through dividends of $208.9 million and the repurchase of approximately $140.3 million, or 1.8 million shares of our common stock, at an average price of $77.51 per share under our previously announced $4.0 billion stock buyback program. Cumulatively repurchased approximately $1.512 billion, or 20.3 million shares, over the last seven quarters.
• Record quarterly dividend declared today for the September quarter of 41.0 cents per share, an increase of 36.2 % from the year ago quarter.

CHANDLER, Ariz., Aug. 03, 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 June 30, 2023, as summarized in the table below.