Microchip Technology (MCHP) Offers Updated Q1 Guidance

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Go back to Microchip Technology (MCHP) Offers Updated Q1 Guidance

Microchip Technology Updates Financial Guidance for First Quarter Fiscal 2021

June 2, 2020 4:15 PM EDT

CHANDLER, Ariz., June 02, 2020 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today updated the range of its prior guidance for net sales and GAAP and non-GAAP earnings per share for its fiscal first quarter of 2021 ending June 30, 2020.  Microchip now expects consolidated net sales for the June quarter to be $1.247 billion to $1.326 billion, or between flat and down 6% sequentially with a mid-point of down 3.0%.  Microchip previously provided guidance on May 7, 2020 for consolidated net sales to be $1.194 billion to $1.3 billion or down between 2% and 10%... More