GAAP results in the second quarter of2009 included $6

GAAP results in the second quarter of2009 included $6.3 million for transitional idle capacity, a reduction of $0.7million from the previous quarter, and $16.0 million in restructuring andrelated charges, including $10.2 million in inventory write-downs, $4.5 millionin severance benefits, $0.6 million in impairment of restructuring related fixedassets and $0.7 million in other related charges. Also included in the secondquarter of 2009 were non-cash charges of $7.0 million related to stock basedcompensation and $3.6 million in amortization of acquisition-relatedintangibles. The inventory write-down component relates to product lines that donot meet gross margin targets, products that are being migrated to newergenerations, and products that service the large capital spending end marketsfor which demand has declined. For the second quarter of 2009, GAAP net loss was$16.6 million compared to GAAP net income of $9.8 million in the second quarterof 2008 and $13.2 million in GAAP net income in the first quarter of 2009. Forthe second quarter of 2009, the GAAP effective tax rate was negative 0.5percent. GAAP diluted loss per share in the second quarter of 2009 was $0.21,compared to diluted earnings per share of $0.12 in the second quarter of 2008,and diluted earnings per share of $0.16 in the first quarter of 2009.James J.

Peterson, President and Chief Executive Officer, stated, “Our secondquarter was challenging. This was especially evident in our commerciallytargeted markets which have been impacted by the macroeconomic environment.However, our cost cutting and spending controls have positioned us to moreeffectively influence profitability, where we will see improvement in our gross,operating and net margin metrics. These improvements were again reflected in ouroperating cash flow with another strong increase of $24.0 million, giving usincreased leverage for continued strategic initiatives.”Business OutlookMicrosemi expects that for the third quarter of fiscal year 2009, our net saleswill be between a range of minus 3 percent and plus 2 percent, sequentially. Ona non-GAAP basis, we expect earnings for the third quarter of fiscal year 2009to be $0.19 to $0.21 per diluted share.Microsemi regularly announces a quarterly outlook in the form of issuing a newsrelease and does not undertake to update any of this information between suchpublic announcements. Please refer to the “SAFE HARBOR” STATEMENT below forrisks that may affect future actual results.Non-GAAP results are explained and reconciled to GAAP results in the attachedtables. Non-GAAP financial measures exclude items such as transitional idlecapacity and inventory abandonments, amortization of acquisition-relatedintangible assets, effects of manufacturing profit in acquired inventory, stockbased compensation, in-process research and development, restructuring, reservevaluations and other special charges or credits.About Microsemi CorporationMicrosemi, with corporate headquarters in Irvine, California, is a leadingdesigner, manufacturer and marketer of high performance analog and mixed signalintegrated circuits and high reliability semiconductors.

The Company’ssemiconductors manage and control or regulate power, protect against transientvoltage spikes and transmit, receive, and amplify signals.Microsemi’s products include individual components as well as integrated circuitsolutions that enhance customer designs by improving performance andreliability, optimizing battery performance, reducing size or protectingcircuits. The principal markets the company serves include defense, commercialair, satellite, medical, notebook computers, LCD TVs, mobile, and connectivityapplications. More information may be obtained by contacting the companydirectly or by visiting its website at http:// Microsemi Corporation logo is available at http:// for Second Quarter 2009 Earnings Conference Call and Webcast Date: Thursday, April 23, 2009 Time: 4:45 pm Eastern Daylight Time (1:45 pm Pacific Daylight Time)To access the webcast, please log on to: and go to Investorsand then to Events and Presentations. To listen to the live webcast, please goto this website approximately fifteen minutes prior to the start of the call toregister, download, and install any necessary audio software. For those unableto participate during the live webcast, a replay will be available shortly afterthe call on the website for 90 days.To participate in the conference call by telephone, please call: (877) 264-1110or (706) 634-1357 at approximately 4:35 pm EDT (1:35 pm PDT).

Please provide thefollowing ID Number: 95749485.A telephonic replay will be available from 6:00 pm EDT (3:00 pm PDT) onThursday, April 23, 2009 through 11:59 pm EDT (8:59 pm PDT) on Thursday, April30th. To access the replay, please call (800) 642-1687 or (706) 645-9291. These forward-looking statements are based on our currentexpectations and are inherently subject to risks and uncertainties that couldcause actual results to differ materially from those expressed in theforward-looking statements. In addition to these factors and any other factorsmentioned elsewhere in this news release, the reader should refer as well to thefactors, uncertainties or risks identified in the company’s most recent Form10-K and all subsequent Form 10-Q reports filed by Microsemi with the SEC.Additional risk factors may be identified from time to time in Microsemi’sfuture filings. The forward-looking statements included in this release speakonly as of the date hereof, and Microsemi does not undertake any obligation toupdate these forward-looking statements to reflect subsequent events orcircumstances. Amounts reported in this release are preliminary and subject tofinalization prior to the filing of our Form 10-Q, which is expected to occur nolater than May 8, 2009.To supplement the consolidated financial results prepared in accordance withGenerally Accepted Accounting Principles (“GAAP”), this press release and itsattachments include non-GAAP financial measures that exclude transitional idlecapacity, inventory reserves due to restructuring activities, impairment ofrestructuring related fixed assets, effects of manufacturing profit in acquiredinventory, amortization of acquisition-related intangible assets, stock basedcompensation, in-process research and development, restructuring, reservevaluations and other special charges or credits.

Management excludes these itemsbecause it believes that the non-GAAP measures enhance an investor’s overallunderstanding of the Company’s financial performance and future prospects bybeing more reflective of the Company’s core operational activities and to bemore comparable with the results of the Company over various periods. Managementuses non-GAAP financial measures internally for strategic decision making,forecasting future results and evaluating current performance. Guidance isprovided only on a non-GAAP basis due to the inherent difficulty of forecastingthe timing or amount of certain items that have been excluded from theforward-looking non-GAAP measures, and a reconciliation to the comparable GAAPguidance has not been provided because certain factors that are materiallysignificant to the Company’s ability to estimate the excluded items are notaccessible or estimable on a forward-looking basis. By disclosing non-GAAPfinancial measures, management intends to provide investors with a moremeaningful, consistent comparison of the Company’s core operating results andtrends for the periods presented.