Summary of STANDARD MICROSYSTEMS CORP

Item 2.02 Results of Operations and Financial Condition.

On October 1, 2009, Standard Microsystems Corporation (the "Company") issued a press release announcing its financial results for its second quarter ended August 31, 2009. A copy of the press release is furnished herewith and attached as Exhibit 99.1.

Management of the Company will host a teleconference on October 1, 2009 at 5:00 PM eastern time to discuss the Company's results. Details on accessing the teleconference are contained in the Company's press release dated September 17, 2009 announcing the teleconference, and below. A webcast of the call, along with presentation materials, will be accessible via the investor relations section of SMSC's website at www.smsc.com. The teleconference may also be accessed by dialing 1-888-452-3998 in the U.S. or 1-719-325-2103 from outside of the U.S. The teleconference confirmation code is 8474742. A replay of the call will also be available on a 24-hour basis from October 1 - October 7, 2009 and can be accessed by dialing 1-888-203-1112 and entering passcode 8474742, or internationally by dialing 1-719-457-0820 and entering passcode 8474742. In addition, a webcast archive of the audio and slide presentation will be available on the investor relations portion of the Company's website at http://www.smsc.com.

Use of Non-GAAP Financial Information

Included within the press release are non-GAAP financial measures that supplement the Company's Condensed Consolidated Income Statements prepared under generally accepted accounting principles (GAAP). These non-GAAP financial measures adjust the Company's actual results prepared under GAAP to exclude certain charges as more fully described in the accompanying press release. The non-GAAP measures have been reconciled to and should be considered together with the Condensed Consolidated Income Statements. These non-GAAP measures are not meant as a substitute for GAAP, but are included solely for informational and comparative purposes. The Company's management believes that this information assists in evaluating operational trends, but should not be regarded as a replacement for corresponding, similarly captioned, GAAP measures.

The information in this Item 2.02 and Item 9.01 and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing.