What were the key financial results announced for the first quarter of fiscal year 2005?

The 8-K filing, referencing the attached press release, announces that Microchip Technology achieved record financial results for the first quarter ended June 30, 2004. Specific details of these record results would be found in the full press release (Exhibit 99.1).

What is the amount and schedule for the announced cash dividend?

Microchip Technology announced a cash dividend of $0.046 per share. This dividend is payable on September 1, 2004, to stockholders who are of record as of August 10, 2004.

Why does Microchip Technology use non-GAAP financial measures like pro forma earnings?

The company uses non-GAAP measures to provide investors with a more complete understanding of its past financial performance and future prospects. These adjusted results exclude certain costs, expenses, gains, and losses that management considers outside of core operations, offering insight into baseline performance and trends. They are a key tool for management's review, budgeting, and forecasting.

Are the non-GAAP financial measures presented as a substitute for GAAP results?

No, the company explicitly states that the presentation of non-GAAP information is not meant to be considered in isolation or as a substitute for net earnings or diluted earnings per share prepared in accordance with Generally Accepted Accounting Principles (GAAP) in the United States. They are intended to supplement GAAP results.

MCHP/MCHPP 8-K SEC Disclosure

Summary

Microchip Technology Incorporated (MCHP) filed an 8-K on July 20, 2004, primarily to announce its record first-quarter fiscal year 2005 financial results and a quarterly cash dividend. The company reported strong performance for the quarter ended June 30, 2004, highlighting that these results were a record. Investors are also informed about a cash dividend of $0.046 per share, payable on September 1, 2004, to shareholders of record on August 10, 2004. The filing also sheds light on Microchip's use of non-GAAP financial measures. The company explains its rationale for providing pro forma and adjusted earnings figures, which exclude certain costs, to offer a clearer view of underlying operational performance and trends. These non-GAAP measures are used by management for performance review, budgeting, and forecasting, and are presented to supplement, not replace, GAAP financial statements.

Key Highlights

1Announced record first-quarter fiscal year 2005 financial results.
2Declared a quarterly cash dividend of $0.046 per share.
3Dividend payment date is September 1, 2004.
4Record date for the dividend is August 10, 2004.
5Press release detailing results and dividend is attached as Exhibit 99.1.
6Company utilizes non-GAAP financial measures (pro forma, adjusted earnings) for enhanced understanding of core operational performance.
7Non-GAAP measures are used by management for budgeting and forecasting.

MICROCHIP TECHNOLOGY INC 8-K Report (Jul 20, 2004)

Summary

Key Highlights

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