##### Table of Contents



UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 Form 10-Q
 
 þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended August 31, 2007
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 Commission file number 0-7422
 STANDARD MICROSYSTEMS CORPORATION
 (Exact name of registrant as specified in its charter)
 DELAWARE
    
    11-2234952(State or other jurisdiction of
    
    (I.R.S. Employerincorporation or organization)
    
    Identification No.)80 Arkay Drive, Hauppauge, New York
    
    11788-3728(Address of principal executive offices)
    
    (Zip Code)
 Registrants telephone number, including area code:
(631) 435-6000
 þ o
  o þ o
 o þ




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TABLE OF CONTENTS
 Part I  FINANCIAL INFORMATIONItem 1. Financial StatementsCondensed Consolidated Balance Sheets as of August 31, 2007 and February 28, 2007Condensed Consolidated Income Statements for the Three and Six-Month Periods
Ended August 31, 2007 and 2006Condensed Consolidated Statements of Cash Flows for the Six-Month Periods Ended
August 31, 2007 and 2006Notes to Condensed Consolidated Financial StatementsItem 2. Managements Discussion and Analysis of Financial Condition and Results of OperationsItem 3. Quantitative and Qualitative Disclosures About Market RiskItem 4. Controls and ProceduresPart II  OTHER INFORMATIONItem 1. Legal ProceedingsItem 1A. Risk FactorsItem 2. Unregistered Sales of Equity Securities and Use of ProceedsItem 3. Defaults Upon Senior SecuritiesItem 4. Submission of Matters to a Vote of Security HoldersItem 5. Other InformationItem 6. ExhibitsSignaturesAmended & Restated BylawsCertification of Chief Executive Officer pursuant to Rule 13a-14(a)Certification of Chief Financial Officer pursuant to Rule 13a-14(a)Certifications of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350
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PART I
 
 Item 1. Financial Statements
 STANDARD MICROSYSTEMS CORPORATION AND SUBSIDIARIES
 
 CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
 August 31,
    
    
    February 28,2007
    
    
    2007(Unaudited)ASSETSCurrent assets:Cash and cash equivalents
    
    $
    31,384
    
    
    $
    36,255Short-term investments
    
    
    150,328
    
    
    
    123,768Accounts receivable, net
    
    
    55,286
    
    
    
    48,014Inventories
    
    
    42,646
    
    
    
    50,873Deferred income taxes
    
    
    19,229
    
    
    
    19,312Other current assets
    
    
    9,013
    
    
    
    8,751Total current assets
    
    
    307,886
    
    
    
    286,973Property, plant and equipment, net
    
    
    56,383
    
    
    
    58,020Goodwill
    
    
    99,976
    
    
    
    98,259Intangible assets, net
    
    
    37,824
    
    
    
    40,256Deferred income taxes
    
    
    6,772
    
    
    
    7,094Other assets
    
    
    3,265
    
    
    
    3,037TOTAL ASSETS
    
    $
    512,106
    
    
    $
    493,639LIABILITIES AND SHAREHOLDERS EQUITYCurrent liabilities:Accounts payable
    
    $
    22,071
    
    
    $
    25,617Deferred income on shipments to
distributors
    
    
    15,452
    
    
    
    12,752Accrued expenses, income taxes and
other liabilities
    
    
    33,071
    
    
    
    36,378Total current liabilities
    
    
    70,594
    
    
    
    74,747Deferred income taxes
    
    
    8,087
    
    
    
    10,100Other liabilities
    
    
    14,509
    
    
    
    16,850Commitments and contingenciesShareholders equity:Preferred stock
    
    
    
    
    
    
    Common stock
    
    
    2,586
    
    
    
    2,511Additional paid-in capital
    
    
    295,846
    
    
    
    276,701Retained earnings
    
    
    153,628
    
    
    
    139,657Treasury stock, at cost
    
    
    (41,325
    )
    
    
    (32,038
    )Accumulated other comprehensive income
    
    
    8,181
    
    
    
    5,111Total shareholders equity
    
    
    418,916
    
    
    
    391,942TOTAL LIABILITIES AND SHAREHOLDERS EQUITY
    
    $
    512,106
    
    
    $
    493,639
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STANDARD MICROSYSTEMS CORPORATION AND SUBSIDIARIES
 
 CONDENSED CONSOLIDATED INCOME STATEMENTS
(in thousands, except per share amounts)
 Three Months Ended
    
    
    Six Months EndedAugust 31,
    
    
    August 31,2007
    
    
    2006
    
    
    2007
    
    
    2006(Unaudited)
    
    
    (Unaudited)Product sales
    
    $
    94,436
    
    
    $
    93,834
    
    
    $
    172,950
    
    
    $
    177,126Intellectual property revenues
    
    
    3,086
    
    
    
    2,829
    
    
    
    6,119
    
    
    
    5,68197,522
    
    
    
    96,663
    
    
    
    179,069
    
    
    
    182,807Costs and expenses:Costs of goods sold (exclusive of
amortization shown
below)
    
    
    47,879
    
    
    
    52,359
    
    
    
    86,730
    
    
    
    97,273Research and development
    
    
    18,192
    
    
    
    17,142
    
    
    
    36,181
    
    
    
    32,310Amortization of intangible assets
    
    
    1,652
    
    
    
    1,591
    
    
    
    3,293
    
    
    
    3,160Selling, general and administrative
    
    
    21,718
    
    
    
    18,159
    
    
    
    41,990
    
    
    
    31,962Income from operations
    
    
    8,081
    
    
    
    7,412
    
    
    
    10,875
    
    
    
    18,102Interest income
    
    
    1,665
    
    
    
    1,173
    
    
    
    3,067
    
    
    
    2,319Interest expense
    
    
    (89
    )
    
    
    (111
    )
    
    
    (174
    )
    
    
    (144
    )Other income (expense), net
    
    
    52
    
    
    
    9
    
    
    
    410
    
    
    
    (53
    )Income before provision for income taxes
    
    
    9,709
    
    
    
    8,483
    
    
    
    14,178
    
    
    
    20,224Provision for income taxes
    
    
    428
    
    
    
    2,756
    
    
    
    1,695
    
    
    
    5,864Net income
    
    $
    9,281
    
    
    $
    5,727
    
    
    $
    12,483
    
    
    $
    14,360Basic net income per share:
    
    $
    0.40
    
    
    $
    0.26
    
    
    $
    0.54
    
    
    $
    0.66Diluted net income per share:
    
    $
    0.38
    
    
    $
    0.25
    
    
    $
    0.52
    
    
    $
    0.62Weighted average common shares
outstanding:Basic
    
    
    23,097
    
    
    
    21,904
    
    
    
    22,939
    
    
    
    21,864Diluted
    
    
    24,160
    
    
    
    22,784
    
    
    
    24,010
    
    
    
    23,005
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STANDARD MICROSYSTEMS CORPORATION AND SUBSIDIARIES
 
 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
 August 31,2007
    
    
    2006(Unaudited)Cash flows from operating activities:Net income
    
    $
    12,483
    
    
    $
    14,360Adjustments to reconcile net income to net cash provided by
operating activities:Depreciation and amortization
    
    
    9,961
    
    
    
    8,787Excess tax benefits associated with stock-based compensation
    
    
    (1,019
    )
    
    
    (182
    )Stock-based compensation
    
    
    10,059
    
    
    
    994Deferred income taxes
    
    
    (1,886
    )
    
    
    207Changes in operating assets and liabilities, net of business
acquisition impact:Accounts receivable
    
    
    (6,516
    )
    
    
    (14,202
    )Inventories
    
    
    8,510
    
    
    
    (11,036
    )Accounts payable, accrued expenses and other liabilities
    
    
    (9,560
    )
    
    
    2,536Deferred income
    
    
    2,700
    
    
    
    3,520Income taxes payable
    
    
    (2,262
    )
    
    
    1,602Other changes, net
    
    
    991
    
    
    
    (1,132
    )Net cash provided by operating activities
    
    
    23,461
    
    
    
    5,454Cash flows from investing activities:Capital expenditures
    
    
    (5,337
    )
    
    
    (12,506
    )Acquisition of OASIS SiliconSystems Holding AG, net of cash acquired
    
    
    
    
    
    
    (12,555
    )Purchases of short-term investments
    
    
    (348,965
    )
    
    
    (239,685
    )Sales of short-term investments
    
    
    322,405
    
    
    
    244,640Net cash used in investing activities
    
    
    (31,897
    )
    
    
    (20,106
    )Cash flows from financing activities:Excess tax benefits associated with stock-based compensation
    
    
    1,019
    
    
    
    182Proceeds from issuance of common stock
    
    
    12,764
    
    
    
    2,847Purchases of treasury stock
    
    
    (9,287
    )
    
    
    (6,077
    )Repayments of obligations under capital leases and notes payable
    
    
    (1,185
    )
    
    
    (628
    )Net cash provided by (used in) financing activities
    
    
    3,311
    
    
    
    (3,676
    )Effect of foreign exchange rate changes on cash and cash equivalents
    
    
    254
    
    
    
    (35
    )Net decrease in cash and cash equivalents
    
    
    (4,871
    )
    
    
    (18,363
    )Cash and cash equivalents at beginning of period
    
    
    36,255
    
    
    
    43,932Cash and cash equivalents at end of period
    
    $
    31,184
    
    
    $
    25,569
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STANDARD MICROSYSTEMS CORPORATION AND SUBSIDIARIES
 
 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 1. BASIS OF PRESENTATION
      2. STOCK-BASED COMPENSATION
  Share-Based Payments
 Three Months
    
    
    Three Months
    
    
    Six Months
    
    
    Six MonthsEnded
    
    
    Ended
    
    
    Ended
    
    
    EndedAugust 31,
    
    
    August 31,
    
    
    August 31,
    
    
    August 31,2007
    
    
    2006
    
    
    2007
    
    
    2006Costs of goods sold
    
    $
    679
    
    
    $
    317
    
    
    $
    1,055
    
    
    $
    (134
    )Research and development
    
    
    2,200
    
    
    
    1,344
    
    
    
    4,044
    
    
    
    1,022Selling, general and administrative
    
    
    3,707
    
    
    
    1,893
    
    
    
    6,294
    
    
    
    107Stock-based compensation expense under SFAS 123R, before
income tax benefit
    
    
    6,586
    
    
    
    3,554
    
    
    
    11,393
    
    
    
    994Tax benefit
    
    
    2,371
    
    
    
    1,279
    
    
    
    4,101
    
    
    
    358Stock-based compensation expense under SFAS 123R, after income
tax benefit
    
    $
    4,215
    
    
    $
    2,275
    
    
    $
    7,292
    
    
    $
    636
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Employee and Director Stock Option Plans
  (shares in thousands):
 WeightedAverage
    
    
    WeightedFiscal
    
    
    Exercise
    
    
    Average2008
    
    
    Prices
    
    
    Contractual
    
    
    AggregateShares
    
    
    per Share
    
    
    Term
    
    
    Intrinsic ValueOptions outstanding, March 1, 2007
    
    
    4,302
    
    
    $
    20.81Granted
    
    
    183
    
    
    $
    34.08Exercised
    
    
    (707
    )
    
    $
    18.12Canceled or expired
    
    
    (148
    )
    
    $
    21.38Options outstanding, August 31, 2007
    
    
    3,630
    
    
    $
    21.98
    
    
    
    6.8
    
    
    $
    50,833,810Options exercisable, August 31, 2007
    
    
    1,543
    
    
    $
    18.93
    
    
    
    5.2
    
    
    $
    26,295,416
    Three Months
    
    Three Months
    
    Six Months
    
    Six MonthsEnded
    
    Ended
    
    Ended
    
    EndedAugust 31,
    
    August 31,
    
    August 31,
    
    August 31,2007
    
    2006
    
    2007
    
    2006Dividend yield
    
    
    
    
    
    
    
    Expected volatility
    
    52%
    
    59%
    
    52%
    
    59%Risk-free interest rates
    
    4.41
    
    5.06
    
    4.41-4.59
    
    4.59-5.06Expective lives (in years)
    
    4.46
    
    4.42
    
    4.46
    
    4.42
 Restricted Stock Awards
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Number of
    
    
    Grant-DateShares
    
    
    Fair ValueRestricted stock shares outstanding, March 1, 2007
    
    
    231
    
    
    $
    22.71Granted
    
    
    48
    
    
    $
    33.50Canceled or expired
    
    
    (3
    )
    
    $
    26.66Vested
    
    
    (75
    )
    
    $
    21.04Restricted stock shares outstanding, August 31, 2007
    
    
    201
    
    
    $
    25.82
  Stock Appreciation Rights Plan
   WeightedAverage
    
    WeightedExercise
    
    AverageFiscal 2008
    
    Prices
    
    Contractual
    
    AggregateShares
    
    per Share
    
    Term
    
    Intrinsic ValueSARs outstanding, March 1, 2007
    
    
    2,775
    
    
    $
    25.54Granted
    
    
    246
    
    
    $
    33.83Exercised
    
    
    (99
    )
    
    $
    18.53Canceled or expired
    
    
    (46
    )
    
    $
    28.03SARs outstanding, August 31, 2007
    
    
    2,876
    
    
    $
    26.44
    
    
    
    8.38
    
    
    $
    27,415,062SARs exercisable, August 31, 2007
    
    
    293
    
    
    $
    20.17
    
    
    
    7.00
    
    
    $
    4,633,003
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Three Months
    
    Three Months
    
    Six Months
    
    Six MonthsEnded
    
    Ended
    
    Ended
    
    EndedAugust 31, 2007
    
    August 31, 2006
    
    August 31, 2007
    
    August 31, 2006Dividend yield
    
    
    
    
    
    
    
    Expected volatility
    
    52%
    
    59%
    
    52%
    
    59%Risk-free interest rates
    
    4.55-4.87
    
    4.86-4.92
    
    4.55-4.87
    
    4.86-4.97Expected lives (in years)
    
    1.54-4.44
    
    2.75-4.55
    
    1.54-4.44
    
    2.75-4.55
 3. INVESTMENTS
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4. BALANCE SHEET DATA
  August 31,
    
    February 28,2007
    
    2007Raw materials
    
    $
    1,783
    
    
    $
    2,307Work-in-process
    
    
    17,982
    
    
    
    20,861Finished goods
    
    
    22,881
    
    
    
    27,705$
    42,646
    
    
    $
    50,873
  August 31,
    
    February 28,2007
    
    2007Land
    
    $
    578
    
    
    $
    578Buildings and improvements
    
    
    32,643
    
    
    
    32,303Machinery and equipment
    
    
    110,185
    
    
    
    104,281143,406
    
    
    
    137,162Less: accumulated depreciation
    
    
    (87,023
    )
    
    
    (79,142
    )$
    56,383
    
    
    $
    58,020
 5. NET INCOME PER SHARE
   Three Months Ended August 31,
    
    Six Months Ended August 31,2007
    
    2006
    
    2007
    
    2006Average shares outstanding for basic net income per
share
    
    
    23,097
    
    
    
    21,904
    
    
    
    22,939
    
    
    
    21,864Dilutive effect of stock options and unvested restricted
stock awards
    
    
    1,063
    
    
    
    880
    
    
    
    1,071
    
    
    
    1,141Average shares outstanding for diluted net income per
share
    
    
    24,160
    
    
    
    22,784
    
    
    
    24,010
    
    
    
    23,005
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6. COMPREHENSIVE INCOME
   Three Months Ended
    
    
    Six Months Ended AugustAugust 31,
    
    

31,2007
    
    
    2006
    
    
    2007
    
    
    2006Net income
    
    $
    9,281
    
    
    $
    5,727
    
    
    $
    12,483
    
    
    $
    14,360Other comprehensive income:Change in foreign currency
translation adjustments
    
    
    1,302
    
    
    
    (701
    )
    
    
    2,969
    
    
    
    3,527Change in unrealized gain on marketable equity
securities, net of taxes
    
    
    4
    
    
    
    
    
    
    
    7
    
    
    
    Change in minimum pension
liability adjustment, net of
taxes
    
    
    47
    
    
    
    5
    
    
    
    94
    
    
    
    (3
    )Total comprehensive income
    
    $
    10,634
    
    
    $
    5,031
    
    
    $
    15,553
    
    
    $
    17,884
  August 31,
    
    
    February 28,2007
    
    
    2007Unrealized gains and losses on investments
    
    $
    (14
    )
    
    $
    (21
    )Foreign currency items
    
    
    8,605
    
    
    
    5,636Minimum pension liability adjustment
    
    
    (410
    )
    
    
    (504
    )Total accumulated other comprehensive income
    
    $
    8,181
    
    
    $
    5,111
 7. BUSINESS RESTRUCTURING
   8. GOODWILL AND INTANGIBLE ASSETS
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August 31, 2007
    
    
    February 28, 2007Accumulated
    
    
    
    
    
    
    AccumulatedCost
    
    
    Amortization
    
    
    Cost
    
    
    AmortizationPurchased technologies
    
    $
    39,396
    
    
    $
    15,441
    
    
    $
    38,846
    
    
    $
    12,718Customer relationships and contracts
    
    
    11,321
    
    
    
    3,492
    
    
    
    10,988
    
    
    
    2,709Total  finite-lived intangible assets
    
    
    50,717
    
    
    
    18,933
    
    
    
    49,834
    
    
    
    15,427Trademark and other
    
    
    6,040
    
    
    
    0
    
    
    
    5,849
    
    
    
    0$
    56,757
    
    
    $
    18,933
    
    
    $
    55,683
    
    
    $
    15,427
   Period
    
    AmountRemainder of fiscal 2008
    
    $
    3,294Fiscal 2009
    
    $
    5,817Fiscal 2010
    
    $
    5,559Fiscal 2011
    
    $
    5,559Fiscal 2012
    
    $
    5,559Fiscal 2013 and thereafter
    
    $
    5,995
 9. INCOME TAXES
 Accounting for Uncertainty in Income Taxesan interpretation of FASB Statement No. 109
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10. RETIREMENT PLANS
   Three Months EndedAugust 31,
    
    
    Six Months Ended August 31,2007
    
    
    2006
    
    
    2007
    
    
    2006Components of net periodic benefit costs:Service cost  benefits earned during the
period
    
    $
    140
    
    
    $
    91
    
    
    $
    274
    
    
    $
    183Interest cost on projected benefit obligations
    
    
    87
    
    
    
    109
    
    
    
    174
    
    
    
    219Amortization of net obligation
    
    
    65
    
    
    
    82
    
    
    
    130
    
    
    
    158Net periodic pension expense
    
    $
    292
    
    
    $
    282
    
    
    $
    578
    
    
    $
    560
 August 31,
    
    
    February 28,2007
    
    
    2007Amounts recognized in
accumulated other comprehensive
income:Transition obligation
    
    $
    474
    
    
    $
    603Net income
    
    
    190
    
    
    
    190Prior service cost
    
    
    5
    
    
    
    5Total amount recognized in
accumulated other comprehensive
income
    
    $
    669
    
    
    $
    798
   11. COMMON STOCK REPURCHASE PROGRAM
  13




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12. OPERATING SEGMENT INFORMATION
 Disclosures about Segments of an
Enterprise and Related Information.
 13. COMMITMENTS AND CONTINGENCIES
 United States Customs Liability Payment
  OPTi, Inc. Patent Infringement Lawsuit
  14. RECENT ACCOUNTING PRONOUNCEMENTS
 Fair Value Measurements (SFAS No. 157)
 The Fair Value Option for Financial Assets and
Financial Liabilities
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STANDARD MICROSYSTEMS CORPORATION AND SUBSIDIARIES
QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTERLY PERIOD ENDED AUGUST 31, 2007
 
 Item 2. Managements Discussion and Analysis of Financial Conditions and Results of Operations
 GENERAL
 Financial Statements
 Forward-Looking Statements
  Risk Factors
 Description of Business
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CRITICAL ACCOUNTING POLICIES & ESTIMATES
   
    
    Revenue Recognition
    
    Inventory Valuation
    
    Determination of the Allowance for Doubtful Accounts Receivable
    
    Valuation of Long-Lived Assets
    
    Valuation of Share-Based Payments
    
    Accounting for Deferred Income Taxes
    
    Accounting for Uncertain Tax Positions
    
    Legal Contingencies
 Accounting for Income Tax Uncertainties Financial
Statements
 RESULTS OF OPERATIONS
 Sales and Revenues
  Three Months Ended August 31,2007
    
    
    2006Amount
    
    
    Percent
    
    
    Amount
    
    
    PercentConsumer Electronics & Infotainment
    
    $
    37.1
    
    
    
    39
    %
    
    $
    38.1
    
    
    
    41
    %Mobile & Desktop PC
    
    
    43.5
    
    
    
    46
    %
    
    
    41.6
    
    
    
    44
    %Industrial & Other
    
    
    13.8
    
    
    
    15
    %
    
    
    14.1
    
    
    
    15
    %Total Product Sales
    
    
    94.4
    
    
    
    100
    %
    
    
    93.8
    
    
    
    100
    %Intellectual Property Revenues
    
    
    3.1
    
    
    
    
    
    
    
    2.9Total Sales and Revenues
    
    $
    97.5
    
    
    
    
    
    
    $
    96.7
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##### Table of Contents



Six Months Ended August 31,2007
    
    
    2006Amount
    
    
    Percent
    
    
    Amount
    
    
    PercentConsumer Electronics & Infotainment
    
    $
    68.0
    
    
    
    39
    %
    
    $
    69.1
    
    
    
    39
    %Mobile & Desktop PC
    
    
    75.1
    
    
    
    44
    %
    
    
    79.0
    
    
    
    45
    %Industrial & Other
    
    
    29.9
    
    
    
    17
    %
    
    
    29.0
    
    
    
    16
    %Total Product Sales
    
    
    173.0
    
    
    
    100
    %
    
    
    177.1
    
    
    
    100
    %Intellectual Property Revenues
    
    
    6.1
    
    
    
    
    
    
    
    5.7Total Sales and Revenues
    
    $
    179.1
    
    
    
    
    
    
    $
    182.8
       Costs of Goods Sold
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Research and Development Expenses
   Selling, General and Administrative Expenses
   Amortization of Intangible Assets
  Interest and Other Income (Expense)
  Provision for Income Taxes
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LIQUIDITY & CAPITAL RESOURCES
          COMMITMENTS AND CONTINGENCIES
 United States Customs Liability Payment
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OPTi, Inc. Patent Infringement Lawsuit
  RECENT ACCOUNTING PRONOUNCEMENTS
 Fair Value Measurements (SFAS No. 157)
 The Fair Value Option for Financial Assets and
Financial Liabilities
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##### Table of Contents



Item 3. Quantitative and Qualitative Disclosures About Market Risk
 Interest Rate Risk
    Equity Price Risk
  Foreign Currency Risk
   
 Item 4. Controls and Procedures
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PART II
 
 Item 1.Legal Proceedings
  
 Item 1.A. Risk Factors
   
 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
     TotalNumber ofShares
    
    MaximumTotal
    
    
    
    
    
    Purchased as
    
    Number ofNumber of
    
    Average
    
    Part of Publicly
    
    Shares thatShares
    
    Price per
    
    Announced
    
    may Yet bePeriod
    
    Purchased
    
    Share
    
    Plans
    
    PurchasedJuly 2007
    
    
    103,090
    
    
    $
    33.92
    
    
    
    103,090
    
    
    
    651,826August 2007
    
    
    164,728
    
    
    $
    35.15
    
    
    
    164,728
    
    
    
    487,098Total
    
    
    267,818
    
    
    $
    34.67
    
    
    
    267,818
    
    
    
    487,098
 
 Item 3. Defaults Upon Senior Securities
  
 Item 4. Submission of Matters to a Vote of Security Holders
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For
    
    Against
    
    Withheld
    
    AbstentionsElection of Timothy P. Craig
    
    
    20,874,015
    
    
    
    
    
    
    
    390,013Election of Ivan T. Frisch
    
    
    20,780,316
    
    
    
    
    
    
    
    483,712Proposal to ratify the appointment of
PricewaterhouseCoopers, LLP as
the Companys registered independent public accounting firm
    
    
    21,200,331
    
    
    
    55,249
    
    
    
    
    
    
    
    8,447
 
 Item 5. Other Information
  
 Item 6. Exhibits
 3.2
    
    
    
    Amended and Restated By-Laws of Standard Microsystems Corporation, effective September 24, 2007.31.1
    
    
    
    Certification of Chief Executive Officer pursuant to Rule 13a-14(a) (17 CFR 240.13a-14(a)), as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.31.2
    
    
    
    Certification of Chief Financial Officer pursuant to Rule 13a-14(a) (17 CFR 240.13a-14(a)), as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.32.1
    
    
    
    Certifications of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
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SIGNATURE
  STANDARD MICROSYSTEMS CORPORATIONBy:
    
    /s/ Joseph S. Durko

      (Signature)Joseph S. Durko
Vice President, Corporate Controller and Chief 
Accounting Officer (duly authorized officer)DATE: September 25, 2007
 
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EXHIBIT INDEX
 ExhibitNo.
    
    
    
    Description3.2
    
    
    
    Amended and Restated By-Laws of Standard Microsystems Corporation, effective September 24, 2007.31.1
    
    
    
    Certification of Chief Executive Officer pursuant to Rule 13a-14(a) (17 CFR 240.13a-14(a)), as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.31.2
    
    
    
    Certification of Chief Financial Officer pursuant to Rule 13a-14(a) (17 CFR 240.13a-14(a)), as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.32.1
    
    
    
    Certifications of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
 
  26