Microsemi Corporation (MSCC) has reported 93.28 percent jump in profit for the quarter ended Oct. 02, 2016. The company has earned $48.90 million, or $0.42 a share in the quarter, compared with $25.30 million, or $0.26 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $104.90 million, or $0.91 a share compared with $70.30 million or $0.73 a share, a year ago. 

Revenue during the quarter surged 36.89 percent to $450.10 million from $328.80 million in the previous year period. Gross margin for the quarter expanded 945 basis points over the previous year period to 62.61 percent. Total expenses were 83.96 percent of quarterly revenues, down from 90.18 percent for the same period last year. This has led to an improvement of 622 basis points in operating margin to 16.04 percent.

Operating income for the quarter was $72.20 million, compared with $32.30 million in the previous year period.

However, the adjusted operating income for the quarter stood at $139.50 million compared to $84.80 million in the prior year period. At the same time, adjusted operating margin improved 520 basis points in the quarter to 30.99 percent from 25.79 percent in the last year period.

"Microsemi posted landmark results for the fiscal fourth quarter," said James J. Peterson, Microsemi’s chairman and chief executive officer. "Record revenues, margins and cash flows evidence the strength of our strategic positioning and high caliber of execution. As we turn to 2017, we expect the combination of improving fundamentals and market share gains to drive continued growth."

For the first-quarter, Microsemi Corporation expects revenue to be in the range of $428 million to $442 million. On an adjusted basis, the company projects diluted earnings per share to be in the range of $0.82 to $0.90.