Microchip Technology (MCHP) Tops Q3 EPS by 19c

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Go back to Microchip Technology (MCHP) Tops Q3 EPS by 19c

Microchip Technology Announces Outstanding Financial Results for Third Quarter Fiscal Year 2017

February 7, 2017 4:15 PM EST

GAAP net sales of $834.4 million.  Microchip was unable to provide GAAP net sales guidance due to its acquisition of Atmel.Record Non-GAAP net sales of $881.2 million, above the high end of our non-GAAP net sales guidance provided on November 29, 2016 of $838.9 million to $865.1 million.On a GAAP basis: gross margins of 55.8%; operating income of $118.1 million; net income from continuing operations of $107.3 million; and EPS from continuing operations of 46 cents per diluted share.  There was no First Call published estimate and no guidance provided by Microchip for GAAP EPS.On a... More