Microchip Technology Inc Q3 2020 Earnings Call Summary

Edited Brief of MCHP earnings conference call or presentation 4-Feb-20 10:00pm GMT

...A. Note: During June qtr. of 2018, adopted new GAAP revenue recognition standard, which requires revenue to be recognized at time products are sold to distributors vs. historical revenue recognition policy, where revenue on such transactions were deferred until product was sold by distributors to end-customer. 1. Continues to track and measure performance internally based on direct revenue plus distribution sell-through activity. a. b. Each qtr., will provide metric for this end-market demand in earnings release. c. Along with GAAP and non-GAAP results based on distribution sell-in, will provide investors with end-market demand based on distribution sell-out. d. Will not provide P&L based on end-market demand. 2. End-market demand $1.324b. a. About $36.1m more than GAAP revenue. B. Results: Will be referring to results on non-GAAP basis, which is based on: 1. Expenses prior to effects of acquisition activities. a. b. Share-based compensation. c. Certain other adjustments. 2. Net sales $1.287b....

Brief