Microchip Technology (MCHP) Tops Q1 EPS by 13c; Guides In-Line
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Microchip Technology Announces Financial Results for First Quarter of Fiscal Year 2021
August 4, 2020 4:15 PM EDTNet sales of $1.310 billion, down 1.3% sequentially and down 1.0% from the year ago quarter. Our updated guidance provided on June 2, 2020 was for net sales to be between flat and down 6% sequentially with a mid-point of down 3.0%.On a GAAP basis: gross margin of 61.0%; operating income of $218.3 million; net income of $123.6 million; and EPS of $0.48 per diluted share. Our updated guidance provided on June 2, 2020 was for GAAP EPS of $0.25 to $0.39 per diluted share.On a Non-GAAP basis: gross margin of 61.7%; operating income of $505.2 million and 38.6% of net sales;... More
