Our GAAP gross margin, which incorporates only noncash purchase accounting adjustments from our recent acquisitions, was 55.8%, a sequential increase of 290 basis points. In Q4, we don't expect any further noncash purchase accounting adjustments. This quarter, non-GAAP selling, general and administrative expenses were $41 million or 15.8% of sales compared to $40 million or 16% of sales in the prior quarter and compared to $37.3 million or 17.2% of sales reported a year ago. For the next quarter, we expect total SG&A to decrease slightly as a percentage of revenue.Research and development costs were $44 million or 17% of sales compared to $42.2 million or 16.9% of sales in the prior quarter and compared to $29.6 million or 13.6% of sales reported a year ago. The increase compared to prior year was due primarily in our investment of new product development. For the next quarter, we expect total R&D to decrease slightly as a percentage of revenue.
Microsemi Management Discusses Q3 2012 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts