Microchip Technology announces record net sales and fourth quarter and fiscal year 2014 financial results

For Fiscal Year 2014:
•    Record net sales of $1.931 billion, up 22.1% year-over-year
On a non-GAAP basis:
•    Gross margin of 58.8%; record operating income of $613.2 million; record net income of $531.0 million and 27.5% of net sales; record EPS of $2.45 per diluted share
On a GAAP basis:
•    Gross margin of 58.4%; operating income of $458.9 million; net income of $395.3 million and 20.5% of net sales; EPS of $1.82 per diluted share
•    Record fiscal year net sales of total microcontrollers, 8-bit microcontrollers, 16-bit microcontrollers, 32-bit microcontrollers, analog products and licensing
•    Record shipments of development systems
For the quarter ending March 31, 2014:
•    Record net sales of $493.4 million, up 14.7% year-over-year
On a non-GAAP basis:
•    Gross margins of 59.3%; record operating income of $161.5 million; record net income of $141.3 million; and record EPS of 64 cents per diluted share. The first call published estimate for non-GAAP EPS was 61 cents.
On a GAAP basis:
•    Gross margins of 58.9%; operating income of $126.0 million; net income of $111.5 million; and EPS of 50 cents per diluted share. There was no published first call estimate for GAAP EPS.
•    Record quarterly net sales for total microcontrollers, 16-bit microcontrollers and 32-bit microcontrollers

GAAP: General accepted accounting principles

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