Microchip Technology (MCHP) Tops Q4 EPS by 11c, Offers Guidance
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Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2021
May 6, 2021 4:15 PM EDTFor the quarter ended March 31, 2021
Record net sales of $1.467 billion, up 8.5% sequentially and up 10.6% from the year ago quarter. The midpoint of our guidance provided on February 4, 2021 was net sales of $1.454 billion.On a GAAP basis: record gross margin of 63.2%; operating income of $308.0 million; net income of $116.0 million; and EPS of $0.41 per diluted share. Our guidance provided on February 4, 2021 was for GAAP EPS of $0.52 to $0.58 per diluted share. Our guidance did not include the $85.6 million loss on debt settlement associated with... More