Microchip Technology (MCHP) Tops Q1 EPS by 13c, Offers Q2 Guidance
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Microchip Technology Announces Financial Results for First Quarter of Fiscal Year 2019
August 9, 2018 4:15 PM EDTRecord GAAP net sales of $1.213 billion, up 21.0% sequentially and up 24.7% from the year ago quarter. Microchip was unable to provide GAAP net sales guidance.Record Non-GAAP net sales of $1.217 billion, up 21.4% sequentially and up 25.2% from the year ago quarter. The midpoint of our guidance provided on May 31, 2018 was non-GAAP net sales of $1.207 billion.On a GAAP basis: gross margin of 52.9%; operating income of $132.3 million; net income of $35.7 million; and EPS of $0.14 per diluted share, adversely impacted by $226.9 million of Microsemi purchase accounting, restructuring and other... More
