Microchip Technology (MCHP) Bumps Q3 Outlook Higher

Microchip Technology Increases Guidance for Non-GAAP Net Sales and Non-GAAP EPS for Third Quarter of Fiscal 2017

CHANDLER, Ariz., Nov. 29, 2016 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) - Microchip Technology Incorporated, a leading provider of microcontroller, mixed signal, analog and Flash-IP solutions, today improved the range of its prior guidance for non-GAAP net sales and non-GAAP earnings per share for its fiscal third quarter of 2017 ending December 31, 2016.  Microchip previously provided guidance on November 7, 2016 for consolidated non-GAAP net sales to be flat to down 6% with a mid-point of down 3%.  Microchip now expects consolidated non-GAAP net sales to be down 1% to 4% with a mid-point of down 2.5% and non-GAAP earnings per share to be between 87 cents... More