Microchip Technology (MCHP) Tops Q1 EPS by 7c

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Go back to Microchip Technology (MCHP) Tops Q1 EPS by 7c

Microchip Technology Announces Record Financial Results for First Quarter of Fiscal Year 2022

August 3, 2021 4:15 PM EDT

Record net sales of $1.569 billion, up 7.0% sequentially and up 19.8% from the year ago quarter. The midpoint of our guidance provided on May 6, 2021 was net sales of $1.548 billion.On a GAAP basis: record gross margin of 64.2%; record operating income of $368.8 million; net income of $252.8 million; and EPS of $0.89 per diluted share. Our guidance provided on May 6, 2021 was for GAAP EPS of $0.75 to $0.79 per diluted share. On a Non-GAAP basis: record gross margin of 64.8%; record operating income of $655.1 million... More