Microchip Technology (MCHP) Tops Q4 EPS by 2c; Guides Q1 In-Line

Microchip Technology (NASDAQ: MCHP) reported Q4 EPS of $0.70, $0.02 better than the analyst estimate of $0.68. Revenue for the quarter came in at $568.4 million versus the consensus estimate of $564.86 million.

"Our March quarter financial results were very strong amidst a weak semiconductor industry backdrop," said Steve Sanghi, Chairman and CEO. "We achieved the high end of our net sales guidance provided on April 4, 2016, establishing a new record in the process, and we exceeded the high end of our guidance for non-GAAP gross margin percentage, operating profit percentage and non-GAAP diluted earnings per share."

Mr. Sanghi added, "Our non-GAAP earnings per share was sequentially up 11% from the December 2015 quarter due to improving sales, gross margin and operating expense leverage, which we believe clearly demonstrates that there is still operating leverage in our premium business model."

GUIDANCE:

Microchip Technology sees Q1 2017 EPS of $0.70-$0.79, versus the consensus of $0.75. Microchip Technology sees Q1 2017 revenue of $799.1-841.9 million, versus the consensus of $836.61 million.

For earnings history and earnings-related data on Microchip Technology (MCHP) click here.

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