Microchip Technology (MCHP) Tops Q2 EPS by 13c, Offers Q3 Guidance
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Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2021
November 5, 2020 4:15 PM ESTNet sales of $1.31 billion, about flat sequentially and down 2.1% from the year ago quarter. Our updated guidance provided on September 9, 2020 was for net sales to be down between 2% and 6% sequentially with an unchanged mid-point of down 4.0%.On a GAAP basis: gross margin of 61.7%; operating income of $226.2 million; net income of $73.6 million; and EPS of $0.27 per diluted share. Our updated guidance provided on September 9, 2020 was for GAAP EPS of $0.23 to $0.31 per diluted share. On a Non-GAAP basis: gross margin of 62.2%; operating income of $513.8 million and 39.2% of net sales; net income... More
