Our GAAP gross margin was 52.9%, which differed from non-GAAP due to noncash purchase accounting adjustments related to our acquisitions of Zarlink and Maxim's timing, synchronization and synthesis businesses, as well as Thailand-related, noncash inventory charges net of insurance proceeds. Our GAAP gross margin was up 70 basis points from the 52.2% in our first quarter of 2012 and up 830 basis points from the 44.6% in our prior year second quarter.This quarter, non-GAAP selling, general and administrative expenses were $40 million or 16% of sales compared to $40.5 million or 16.8% of sales in the first quarter and compared to $35.3 million or 17% of sales in the second quarter of last year. For the third quarter, we expect total SG&A to end [ph] at 15% of sales. Compared to the first quarter, the SG&A change included the addition of incremental expense from Zarlink for a full quarter. It was offset by savings from cost control and spending efficiencies within the company.
Microsemi Management Discusses Q2 2012 Results - Earnings Call Transcript
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