Microchip Technology (MCHP) Trims Q2 Outlook

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Microchip Technology Updates Guidance For Non-GAAP Net Sales And EPS For Second Quarter Of Fiscal 2017

September 6, 2016 4:15 PM EDT

CHANDLER, Ariz., Sept. 6, 2016 /PRNewswire/ -- (NASDAQ: MCHP) - Microchip Technology Incorporated, a leading provider of microcontroller, mixed signal, analog and Flash-IP solutions, today narrowed the range of its prior guidance for non-GAAP net sales and earnings per share for its fiscal second quarter of 2017 ending September 30, 2016. Microchip previously provided guidance on August 8, 2016 for consolidated non-GAAP net sales to be flat to up 4% with a mid-point of up 2%. Microchip now expects consolidated non-GAAP net sales to be up between 1% and 3% with a mid-point unchanged at 2% and non-GAAP earnings per share to be... More