Microchip Technology (MCHP) Narrows Financial Guidance for Q2

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Go back to Microchip Technology (MCHP) Narrows Financial Guidance for Q2

Microchip Technology Narrows Financial Guidance for Second Quarter Fiscal 2021

September 9, 2020 9:00 AM EDT

CHANDLER, Ariz., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Microchip Technology Incorporated (NASDAQ: MCHP), a leading provider of smart, connected and secure embedded control solutions, today narrowed the range of its prior guidance for net sales and GAAP and non-GAAP earnings per share for its fiscal second quarter of 2021 ending September 30, 2020.  Microchip previously provided guidance on August 4, 2020 for consolidated net sales to be flat to down 8% sequentially, with a midpoint of down 4%.  Microchip now expects consolidated net sales for the September quarter to be down between 2% and 6% sequentially with an unchanged mid-point of... More