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MICROSEMI CORPORATION Schedule Reconciling Selected Non-GAAP Financial Measures to Comparable GAAP Financial Measures (unaudited, in millions, except for per share amounts) | ||||||||||||||||||||
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Quarter Ended |
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Nine Months | ||||||||||||||||
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Jun 30, 2013 |
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Mar 31, 2013 |
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Jul 1, 2012 |
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Jun 30, 2013 |
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Jul 1, 2012 | ||||||||||
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GAAP gross profit |
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$ |
138.3 |
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$ |
133.5 |
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$ |
144.6 |
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$ |
414.4 |
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$ |
402.2 | |
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Manufacturing profit in acquired inventory (1) |
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— |
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— |
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1.0 |
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— |
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9.1 | ||||||
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Thailand flood-related charges (2) |
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— |
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— |
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— |
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— |
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3.2 | ||||||
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Non-GAAP gross profit |
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$ |
138.3 |
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$ |
133.5 |
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$ |
145.6 |
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$ |
414.4 |
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$ |
414.5 | |
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GAAP operating income |
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$ |
25.2 |
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$ |
11.8 |
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$ |
21.3 |
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$ |
62.6 |
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$ |
31.8 | |
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Adjustments to GAAP gross profit |
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— |
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— |
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1.0 |
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— |
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12.3 | ||||||
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Restructuring and other special charges (2) |
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1.5 |
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6.9 |
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2.8 |
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9.5 |
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12.1 | ||||||
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Amortization of intangible assets (3) |
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21.0 |
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21.1 |
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26.0 |
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63.9 |
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77.4 | ||||||
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Stock based compensation (4) |
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7.1 |
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10.2 |
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9.4 |
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25.4 |
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27.0 | ||||||
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Acquisition costs (5) |
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— |
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— |
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0.2 |
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— |
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6.8 | ||||||
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Non-GAAP operating income |
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$ |
54.8 |
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$ |
50.0 |
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$ |
60.7 |
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$ |
161.4 |
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$ |
167.4 | |
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GAAP net income (loss) |
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$ |
18.3 |
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$ |
(2.9) |
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$ |
8.1 |
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$ |
29.6 |
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$ |
(41.3) | |
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Adjustments to GAAP gross profit and operating income |
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29.6 |
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38.2 |
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39.4 |
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98.8 |
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135.6 | ||||||
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Loss from facility closure and asset disposal (2) |
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— |
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0.2 |
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0.1 |
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0.2 |
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1.8 | ||||||
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Thailand flood-related charges (2) |
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— |
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— |
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— |
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— |
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1.5 | ||||||
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Credit facility issuance and refinancing costs (6) |
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0.2 |
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3.3 |
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0.3 |
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3.8 |
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35.9 | ||||||
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(Gain) in debt and derivative instruments (7) |
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(0.3) |
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(0.3) |
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(0.2) |
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(1.0) |
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(5.4) | ||||||
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Income tax effect on non-GAAP adjustments (8) |
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(3.0) |
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0.4 |
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0.6 |
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(2.8) |
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(5.9) | ||||||
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Non-GAAP net income |
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$ |
44.8 |
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$ |
38.9 |
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$ |
48.3 |
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$ |
128.6 |
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$ |
122.2 | |
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GAAP diluted earnings (loss) per share |
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$ |
0.20 |
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$ |
(0.03) |
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$ |
0.09 |
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$ |
0.33 |
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$ |
(0.48) | |
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Effect of non-GAAP adjustments on diluted earnings per share |
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$ |
0.29 |
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$ |
0.46 |
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$ |
0.46 |
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$ |
1.09 |
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$ |
1.88 | |
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Non-GAAP diluted earnings per share |
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$ |
0.49 |
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$ |
0.43 |
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$ |
0.55 |
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$ |
1.42 |
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$ |
1.40 | |
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Weighted average diluted shares used in calculating non-GAAP diluted earnings per share |
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91.7 |
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91.1 |
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87.9 |
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90.8 |
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87.2 | ||||||
