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MICROSEMI CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2018 10-Q, filed Apr 27, 2018. Its latest SEC filing is a 424B2 from Dec 12, 2024.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Sells semiconductor and system solutions to aerospace and defense, communications, and industrial customers, including data center operators.

How Did They Make Money?

Microsemi sells semiconductor products to customers and distributors, with sales counted when products ship. It also earns revenue from fixed-price contracts as work is carried out, and from cost-plus contracts through expense reimbursement plus an agreed fee.

FY2017 revenue

Who Were Their Customers?

Microsemi sells to top-tier communications companies and data center customers, while U.S. government-related sales generally pass through higher-tier subcontractors or prime contractors. Distributors are also customers.

Did Revenues Turn Into Profits?

Yes. It kept 10 cents of every revenue dollar as net income in FY2017 and turned 23 cents into free cash flow.

Operating income, FY2017
15% of revenue
▲ +403% vs FY2016 ($53.7M, 3%)
Net income, FY2017
10% of revenue
▲ Now profitable vs FY2016 (−$32.6M, −2%)
Free cash flow, FY2017
23% of revenue
▲ +86% vs FY2016 ($225.8M, 14%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q2 FY2018, the three months to Apr 1, 2018
Revenue
▲ +11%
vs $442.9M in Q2 FY2017
Net income
▼ −70%
vs $41.2M in Q2 FY2017
  • May 29, 2018 Microchip completed its merger with Microsemi Microsemi became a wholly owned subsidiary of Microchip; eligible shares converted into $68.78 in cash.
  • Mar 2, 2018 Microsemi agreed to merge with Microchip The agreement provided for $68.78 in cash for each eligible share, subject to closing conditions.

Grew. Revenue grew 86% in 4 years, from $975.9M in FY2013 to $1.8B in FY2017, about 17% a year.

Who Did They Compete With?

Competes with Altera, Analog Devices, Broadcom, Integrated Device Technology, M/A COM Technology Solutions, Maxim Integrated Products, Semtech, Silicon Laboratories, Skyworks Solutions, Texas Instruments, and Xilinx

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