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MICROCHIP MICROCHIP TECHNOLOGY ANNOUNCES RECORD FINANCIAL RESULTS FOR SECOND QUARTER OF FISCAL YEAR 2022 Record net sales of $ 1.650 billion , up 5.1 % sequentially and up 26.0 % from the year ago quarter . The midpoint of our guidance provided on August 3 , 2021 was net sales of $ 1.648 billion . On a GAAP basis : record gross margin of 64.8 % ; record operating income of $ 416.3 million ; net income of $ 242.0 million ; and EPS of $ 0.43 per diluted share . Our guidance provided on August 3 , 2021 was for GAAP EPS of $ 0.47 to $ 0.49 per diluted share on a split - adjusted basis . Our guidance did not include the $ 85.2 million loss on debt settlement associated with our debt refinancing activities in the quarter . EXHIBIT 99.1 On a Non - GAAP basis : record gross margin of 65.3 % ; record operating income of $ 700.7 million and a record 42.5 % of net sales ; record net income of $ 605.6 million and record EPS of $ 1.07 per diluted share on a split - adjusted basis . Our guidance provided on August 3 , 2021 was for Non GAAP EPS of $ 1.025 to $ 1.085 per diluted share on a split - adjusted basis . Cash flow from operations of $ 611.7 million . Paid down $ 415.6 million of debt in the September 2021 quarter . Cumulatively paid down $ 4.41 billion of debt over the last 13 quarters . NEWS RELEASE INVESTOR RELATIONS CONTACT : J. Eric Bjornholt -- CFO ..... ( 480 ) 792-7804 Record quarterly dividend declared of 23.2 cents per share , an increase of 6.2 % sequentially and 25.9 % from the year ago quarter . Net sales Completed a two - for - one stock split on October 12 , 2021 effective for stockholders of record on October 4 , 2021. All share and per share amounts in this press release have been adjusted to reflect the stock split . Gross margin Operating income Other expense Income tax provision CHANDLER , Arizona - November 4 , 2021 - ( 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 , 2021 , as summarized in the table below . Net income Net income per diluted share ( ¹ ) In millions , except per share amounts and percentages of net sales . ( 2 ) See the " Use of Non - GAAP Financial Measures " section of this release . more - - Three Months Ended September 30 , 2021 ( ¹ ) $ 1,649.8 GAAP $ 1,068.3 $ 416.3 $ ( 151.5 ) $ 22.8 $ 242.0 $ 0.43 % 64.8 % 25.2 % 14.7 % Non - GAAP ( 2 ) $ 1,077.4 $ 700.7 $ ( 56.2 ) $ 38.9 $ 605.6 $ 1.07 Microchip Technology Incorporated 2355 West Chandler Blvd. Chandler , AZ 85224-6199 Main Office 480.792 7200 % 65.3 % 42.5 % 36.7 %