• Net sales of $2.254 billion , down 1.5% sequentially and up 8.7% from the year ago quarter. The midpoint of our guidance provided on August 3, 2023 was net sales of $ 2.266 billion.
• On a GAAP basis: gross profit of 67.8% ; operating income of $885.0 million and 39.3% of net sales; record net income of $666.6 million ; and record EPS of $1.21 per diluted share. Our guidance provided on August 3, 2023 was for GAAP EPS of $ 1.18 to $ 1.21 per diluted share.
• On a Non-GAAP basis: gross profit of 68.1% ; operating income of $1.085 billion and 48.1% of net sales; net income of $889.3 million and EPS of $1.62 per diluted share. Our guidance provided on August 3, 2023 was for Non-GAAP EPS of $ 1.60 to $ 1.64 per diluted share.
• Returned approximately $562.5 million to shareholders in the September quarter through dividends of $222.7 million and the repurchase of approximately $339.8 million , or 4.2 million shares of our common stock, at an average price of $80.78 per share under our previously announced $4.0 billion stock buyback program. Cumulatively repurchased approximately $1.852 billion , or 24.5 million shares, over the last eight quarters.
• Record quarterly dividend declared today for the December quarter of 43.9 cents per share, an increase of 33.8 % from the year ago quarter.
  
  

CHANDLER, Ariz., Nov. 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 September 30, 2023, as summarized in the table below.