Our non-GAAP gross margin was up, however, 110 basis points from the 53.6% reported in the year ago first quarter. We expect our non-GAAP gross margin to increase between 20 and 30 basis points next quarter due primarily to product mix. Our GAAP gross margin was 52.2%, which differed from the non-GAAP due only to non-cash purchase accounting adjustments related to the Zarlink acquisition and was down 490 basis points from the 57.1% in the fourth quarter of 2011, but up 70 basis points from the 51.5% in our prior year first quarter.This quarter, non-GAAP selling, general and administrative expenses were $40.5 million or 16.8% of sales, compared to $38.1 million or 16.7% of sales in the fourth quarter and compared to $32.5 million or 17.6% of sales in the first quarter of last year. This dollar increase was due to the acquisition of Zarlink.
Microsemi Management Discusses Q1 2012 Results - Earnings Call Transcript
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