Microchip Tech (MCHP) Cuts Q2 Revs Outlook
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Price: $77.30 -3.69%
Financial Fact:
Special charges: 22.04M
Today's EPS Names:
SCWO, HSAI, SYRS, More
Financial Fact:
Special charges: 22.04M
Today's EPS Names:
SCWO, HSAI, SYRS, More
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Microchip Technology Incorporated (NASDAQ: MCHP), a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, announced today that it expects its net sales for its second quarter of fiscal 2013 ending September 30, 2012 to be about $407 to $408 million on a non-GAAP basis. On August 2, 2012, Microchip provided guidance of net sales to be approximately $412 to $430 million on a non-GAAP basis.
The Street sees revs of $420.3 million.
“Our lower than anticipated net sales activity in the September quarter was driven primarily by macroeconomic and industry conditions,” said Steve Sanghi, Microchip’s President and CEO. “The overall global economic outlook continues to be poor and is adversely impacting our business as well as the rest of the semiconductor industry.”
The Street sees revs of $420.3 million.
“Our lower than anticipated net sales activity in the September quarter was driven primarily by macroeconomic and industry conditions,” said Steve Sanghi, Microchip’s President and CEO. “The overall global economic outlook continues to be poor and is adversely impacting our business as well as the rest of the semiconductor industry.”
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